Agenda item

Report of the Chief Strategy Officer.

Members received a report of the Chief Strategy Officer concerning risk management.

A Member requested that officers consider alternative wording to ‘tree failure’ for ENV-SLT 005.

RESOLVED, that – Members note:

a)     This report and the corporate and top red departmental risk registers attached to this report. Since the previous update:

b)     The total number of corporate risks has increased by one to 15 with the addition of CR 40 PSTN Switch off 2025 (formerly CHB DITS 045). This has been raised from a departmental risk in recognition of the severity and cross cutting nature this risk poses.

c)      The risk score of CR30 Climate Action has been reduced from Amber 12 (impact major 4 x likelihood possible 3) to Amber 8 (impact major 4 x likelihood unlikely 2).

d)     A corporate risk covering ‘tree failure’ in the City Corporation’s Open Spaces is being developed, following an in-principle decision by the Chief Officer Risk Management Group to escalate the risk.

e)     The number of departmental red risks has increased from 18 to 19. Four risks have been added to the register (one new, three escalated) and three removed (one escalated to a Corporate Risk, two de-escalated). One red risk has increased in score.

f)       The update on the governance of charity assets (relating to understanding responsibilities and risks).

g)     That a Risk Management Strategy 2024-2029 has been developed and will be presented to this Committee for endorsement as a separate paper.

h)     That a Risk Culture and Appetite Review has been completed, with a summary of findings to be presented to the Committee at its next meeting.