NORTH YORKSHIRE COUNTY COUNCIL
EXECUTIVE
7 FEBRUARY 2023
RISK MANAGEMENT POLICY
Report of the Corporate Director - Strategic Resources
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1.0 |
PURPOSE OF REPORT
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1.1
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This report seeks member approval for a risk management policy for the new North Yorkshire Council. |
2.0 BACKGROUND
2.1 Risk management processes form a key part of the Council’s corporate governance and control arrangements. Identifying and managing risks is essential to the effective and efficient delivery of services and the achievement of expected outcomes. Risk management practices also lead to better informed decision-making and improved financial management.
2.2 The risk management policy will provide the framework for ensuring the consistent application of risk management practices across the Council.
3.0 RISK MANAGEMENT POLICY
3.1 The draft Risk Management policy is attached at appendix 1. The policy has been developed by relevant officers from the County Council and each of the borough and district councils. Support was also provided by the internal auditors, Veritau. The policy is based on risk management best practice in local government.
3.2 The draft policy has been agreed by the s151 Officers group as part of the Finance workstream programme. A separate risk management procedures document has also been developed which will provide practical guidance to directorates and service areas.
3.3 The Risk Management policy sets out the principles, objectives and benefits of risk management, as well as the key elements of the risk management framework within the new Council. The policy also defines relevant roles and responsibilities.
3.4 The draft policy is an essential element of the Council’s wider framework of governance and control. It also helps to demonstrate compliance with the ‘CIPFA/SOLACE Delivering Good Governance in Local Government: Framework’.
3.5 The policy contains references to the new Council’s vision and other related policies which are yet to be confirmed. The references have been highlighted and will be confirmed ahead of vesting date.
4.0 CONCLUSION
4.1 It is important that the Council establishes an appropriate framework to identify and manage risks. The proposed framework is set out in the draft Risk Management policy.
5.0 FINANCIAL IMPLICATIONS
5.1 There are no financial implications although the effective risk management is essential for the delivery of good services and the achievement of expected outcomes. This contributes to the management of the Council’s resources.
6.0 LEGAL IMPLICATIONS
6.1 There are no legal implications.
7.0 RISK MANAGEMENT IMPLICATIONS
7.1 As noted in the report, the establishment of an effective policy framework will help the Council to better identify and manage corporate, service, programme and project risks.
8.0 CLIMATE CHANGE IMPLICATIONS
8.1 There are no climate change implications.
9.0 EQUALITIES IMPLICATIONS
9.1 There are no equalities implications.
10.0 REASONS FOR RECOMMENDATIONS
10.1 An effective risk management policy (and procedures) is required to be in place from vesting day.
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11.0 |
RECOMMENDATION
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11.1 |
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GARY FIELDING
Corporate Director – Strategic Resources
24 January 2023