Agenda item

(a)  That Slough Borough Council’s Risk Management Strategy for 2022/23 be approved, and

(b)  The key development activities to be undertaken during 2022/23 including risk management workshops with key stakeholders following the approval of the revised Corporate Plan be noted.

(c)  That delegated authority be given to the Executive Director for Finance and Commercial, in consultation with the Cabinet Member for Financial Oversight & Council Assets, to make minor changes to the strategy, in particular to reflect any feedback from Audit and Corporate Governance Committee.

The Lead Member for Financial Oversight & Council Assets introduced a report that sought approval for the Council’s proposed new Risk Management Strategy.

The document set out the Council’s strategy and approach to the management of risk and demonstrated the intention to continue to develop the maturity of Enterprise Risk Management (ERM) across the organization during 2022/23 and beyond to support the delivery of the Council’s strategic priorities and outcomes.  Lead Members recognised that the various governance and financial reviews had highlighted the importance of improving the approach to managing risk and the approval of the strategy was an important milestone to strengthen the processes.

The plan set out the strategic approach to risk across the Council and was not merely a finance issue.  It was crucial that the Council put in the place the systems to better understand the scale and complexity of the risks and embed the mitigation and reporting systems across the organisation.  It was noted that the Audit & Corporate Governance Committee would consider the strategy at its meeting later in July and the recommendations included a delegation to make minor changes to the strategy if required.

The Cabinet approved the Risk Management Strategy for 2022/23.

Resolved –

(a)  That Slough Borough Council’s Risk Management Strategy for 2022/23 be approved;

(b)  The key development activities to be undertaken during 2022/23 including risk management workshops with key stakeholders following the approval of the revised Corporate Plan be noted; and

(c)  That delegated authority be given to the Executive Director for Finance and Commercial, in consultation with the Cabinet Member for Financial Oversight & Council Assets, to make minor changes to the strategy, in particular to reflect any feedback from the Audit & Corporate Governance Committee.