Agenda item

Report of the Chamberlain

The Board considered a report of the Chamberlain introducing a proposed amendment from officers to the Risk Register for the Financial Investment Board to adequately capture risks surrounding asset allocation decision making following feedback from Members at the last meeting on 30 November 2021. The Chamberlain introduced the report and highlighted the changes made for the Board.

Members endorsed the proposed amendments, which would be useful for informing future direction, noting the significant changes in governance to be implemented from next year. The Chamberlain acknowledged that this would necessitate changes, with the wording based on the existing governance arrangements. Members then asked that consultation be undertaken on the proposals for the implementation of the new governance arrangements ahead of their consideration at Committee, as the insight of the current Financial and Property Investment Boards would be beneficial.

RESOLVED – That the Financial Investment Board agree the proposed amendments to risk CHB FIB 02 (Targeted returns) as presented in the appendix to the report.