Agenda item

Report of the Chief Strategy Officer.

The Committee received a report of the Chief Strategy Officer concerning an update on the corporate and top red departmental risk registers since they were last reported to the Committee in July 2024.

The following points were noted:

• Health Safety and Well-being: Recent audits have shown that the City of London Corporation scored 51% in health, safety, and well-being, indicating that basic measures are in place but there is room for improvement.
• Tree Maintenance Risk: The tree maintenance risk, which had previously been a top concern, has been reduced due to immediate actions taken, particularly concerning a tree on the M25. Further plans are in place to continue reducing this risk.
• BT Switch Impact: The BT Switch to 2027 has been extended for remedial action, but the full scale of its impact on the corporation is still being assessed.
• Risk Appetite Review: The risk appetite review is ongoing, with plans to present options to the committee by early 2025. This includes learning from other organisations and integrating risk appetite into decision-making processes.
• Member Engagement in Risk Management: There is a concern that members outside the committee do not engage with risk management. Efforts are being made to improve understanding and ownership of risk among all members.
• Clarification on Target Dates: There was confusion about target dates for risk reduction, specifically for CR41 (tree maintenance).  Officers noted that further clarification and updates would be provided to the next committee.
• CR36 – Protective Security: It was agreed that further detail on risk mitigation for CR36 would be provided at the next meeting.