Agenda item

Report of the Chief Operating Officer.

The Sub Committee considered a report of the Chief Operating Officer reviewing the 2 critical corporate IT risks.

RESOLVED –

1.    That the report is noted.

2.    That the following statement describing the Sub Committee’s appetite for risk be approved:

“The City Corporation will minimise unnecessary risk and manage residual risk to a level commensurate with its status as a public body so that:

·         The risks have been properly identified and assessed.

·         The risks will be appropriately managed, including the taking of appropriate actions and the regular review of risk(s).

The City of London Corporation will also positively decide to take risks in pursuit of its strategic aims where it has sufficient assurances that the potential benefits justify the level of risk to be taken.”