Report of the Chamberlain
The Board considered a report of the Chamberlain reviewing the Financial Investment Board’s risk register. The Chamberlain introduced the report and outlined each amendment made to the risk register since the last review in turn, for the Board’s information. The Chamberlain also advised the Board of two senior staff changes at the London Collective Investment Vehicle (LCIV).
A Member queried the due dates and target levels of risks on the register, and put to the Board whether more forward thinking was required when monitoring risks, such as creating risk trends for analysis by scoring each risk on a quarterly basis. The Chamberlain responded that other tools and formats were used on risk registers for other Committees, and this was something that could be taken away to consider whether they could be applied to the Board’s risk register.
RESOLVED – That the Financial Investment Board:
a) Note the existing risks and actions present on the Financial Investment Board’s Risk Register, and confirm that appropriate control measures are in place;
b) Confirm that there are no further risks relating to the services overseen by the Financial Investment Board; and
c) Ask officers to consider alternative tools and formatting that might enable further analysis of the Risk Register going forward.