Agenda item

Markets Committee Risk Update

Report of the Markets Director.


The Board received a report of the Markets Director, which provided assurance that risk management procedures in place within the Markets Division are satisfactory and meet the requirements of the corporate Risk Management Framework.


The Officer advised that there had been movement on one red risk in respect of transport, which is shared across all 3 markets, whilst remedial actions are underway at Smithfield.  As new measures are introduced, it should be possible to lower this back to the target.


Members noted the corporate risk in respect of energy and the Board had received a report of the Energy Manager at its last meeting. The Chief Operating Officer (COO) advised that the City Surveyor was leading on detailed works in terms of energy, and there might be some positive news shortly in terms of  the City Corporation’s ability to manage costs over the next couple of years.


In terms of possible future XR demonstrations at Smithfield, the Markets Director advised that the Strategic Director for Threat shares intelligence and, under Gold Command, the market would be alerted within minutes.


RESOLVED, that – the report be noted.

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