To approve the Council’s updated Risk Management Strategy and Operating framework.

The Head of Finance has submitted a report (previously circulated, now appended) which detailed the Council’s Risk Management Strategy and the Risk Management Operating Framework

Cllr Ed Turner, Board member for Finance, Asset Management and Public Health presented the report. He outlined the changes to the strategy due to feedback from Pricewaterhouscooper. There has been an improvement to the scoring mechanism on pages 261 and 262 to make the individual scales easier for managers to understand them.

Cllr Price asked how much risk management is understood by officers and how is the strategy embedded within the Council? The Head of Finance said that regular refresher courses are run on the risk management strategy and an e-learning tool is soon to be release which will help embed the process.

The City Executive Board resolved to approve the Risk Management Strategy and note the adoption of the Risk Management Operating Framework attached at Appendix 1.