Agenda item
Strategic Risk Report for Somerset Council
To consider the report.
Decision:
The Audit Committee:
1. Noted that a risk deep dive report from an Executive Director
each meeting, providing a narrative of their strategic risks
and the steps they have taken to mitigate and manage
each risk, starting at the 30 May 2024 meeting, with a report
from the Executive Director of Resources and Corporate
Services.
2. Received information that a Workshop will be held with CLT in April/May 2024 to explore the challenges and identify solutions in continuing to improve the quality of strategic risk identification and management at Somerset, whether this is regarding governance, reporting, accountability, clarification of roles and responsibilities and any other necessary step.
3. Noted that a proposed revised RAG matrix will be reported to Audit Committee following the CLT workshop and presentation to Statutory Officers Board (SOB) and/or Performance, Risk & Budget Board (PRBB).
4. Noted that a proposed risk appetite approach will be reported to Audit Committee following the CLT workshop and presentation to SOB and/or PRBB.
5. Noted the current strategic risks for Somerset Council set out in Appendix One of the report.
6. Noted the responses to the questions raised by the Committee’s Independent person in a meeting on the 14 February 2024 that was held following the January committee.
Minutes:
The Audit Committee received a Strategic risk report for Somerset Council from the Strategic Risk Manager, Pam Pursley.
The Strategic Risk Manager, Pam Pursley, presented the report, highlighting: the comments and actions from the Audit Committee meeting 25 January 2034; the strategic risk workshop to be held 16 April 2024 to explore challenges and identify solutions to continue to improve the quality of strategic risk identification management at Somerset Council and that a proposed risk appetite approach to be reported to Audit Committee following the CLT workshop; summarised appendix 3 outlining further questions raised by the Audit Committee independent person at a meeting held on 14 February 2024; and summarised the proposed revised risk matrix and proposed risk appetite approach process.
The Audit Committee asked a number of questions and made a number of comments which were responded to at the meeting, as follows:
- The welcome work to improve the risk template and possible further inclusion of the monitoring of mitigations and actions and further work on accessibility of the rag status: The Strategic Risk Manager and Equalities and Risk Manager undertook to consider reasonable adjustment of the rag status to ensure more accessible and limit use of acronyms.
- Risk matrix placement and risk reporting within Committee reports – The Executive Director - Resources and Corporate Services, Jason Vaughan advised that previous comments from Audit Committee had been taken into consideration, and that there is work still required across the Council to improve the quality and consistency of committee reports, which is currently being reviewed by the Monitoring Officer, David Clark. The Equalities and Risk Manager undertook to review the placement of risk reporting in report templates and to monitor the committee reports received with or without the risk matrix and report back to the Audit Committee. The Deputy Leader and Lead Member for Resources and Performance undertook to circulate a ‘good practice’ risk committee report, to gain input on the risk reporting from Audit Committee members.
- The risk drivers in the corporate level risk and unsustainable MTFP, including Adult and Children services spending and funding.
Following consideration of the officer report, appendices and discussion
the Audit Committee:
1. Noted that a risk deep dive report from an Executive Director
each meeting, providing a narrative of their strategic risks
and the steps they have taken to mitigate and manage each risk,
starting at the 30 May 2024 meeting, with a report
from the Executive Director of Resources and Corporate Services.
2. Received information that a Workshop will be held with CLT in April/May 2024 to explore the challenges and identify solutions in continuing to improve the quality of strategic risk identification and management at Somerset, whether this is regarding governance, reporting, accountability, clarification of roles and responsibilities and any other necessary step.
3. Noted that a proposed revised RAG matrix will be reported to Audit Committee following the CLT workshop and presentation to Statutory Officers Board (SOB) and/or Performance, Risk & Budget Board (PRBB).
4. Noted that a proposed risk appetite approach will be reported to Audit Committee following the CLT workshop and presentation to SOB and/or PRBB.
5. Noted the current strategic risks for Somerset Council set out in Appendix One of the report.
6. Noted the responses to the questions raised by the Committee’s Independent person in a meeting on the 14 February 2024 that was held following the January committee.
Supporting documents:
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Strategic Risk Report for Somerset Council, item 84.
PDF 117 KB
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Appendix One – Strategic Risk Report, item 84.
PDF 147 KB
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Appendix Two - Points for Action Raised at Audit Committee 25 January 2024, item 84.
PDF 52 KB
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Appendix Three – Overview of meeting with independent person February 2024, item 84.
PDF 57 KB