Corporate risk management
Corporate risks are potential barriers to the council achieving its priorities. These risks have the potential to disrupt large parts of our service.
The purpose of corporate risk management is to identify potential risks using organisational knowledge of the internal and external environment. These risks are then analysed to identify their potential likelihood and impact. We then evaluate whether a risk should be accepted or treated, and implement a plan to reduce the likelihood or potential impact of these risks.
Risk management is a key element of corporate governance and effective risk management should strengthen our ability to achieve our objectives.
Our approach to risk management is set out in the Risk Management Strategy
The current list of corporate risks we are managing is set out in our Corporate Risk Register. This is scrutinised every 3 months by the Audit Committee. A copy of the Risk Register is available on each meeting's agendas, reports and minutes page.