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.

Members noted the update covered various risks faced by the organisation, including information security, sustainability, business confidence, and finances.

One of the key points discussed was the CR40 risk about the BT cut off, which had not been updated since October. It was noted that the risk was updated in December, and the risk log would be updated prior to the next meeting. A Member queried what the biggest risk the organisation faced; officers noted that cyber risks were considered the highest risk faced by the but mitigations had been undertaken to strengthen the City of London’s position.

The Chief Strategy Officer also highlighted the importance of positive opportunity risk, encouraging the organisation to take risks provided they are bounded and thought about the downside.

RESOLVED – That the report be noted.