Risk is something we all manage in our daily life; it could be managing the risk of arriving late for a meeting or not having the resources to complete a task. The process of putting actions in place to either stop or reduce the possibility of that risk occurring is risk management.
All organisations, including MVDC, encounter risks, and the Councils that perform well have plans in place for the effective management of those risks. Risk Management is the act of risk control and involves identifying, assessing, monitoring and/or reviewing risks.
The effective management of risks contributes to the successful implementation of the Council’s business plans and priorities. MVDC will therefore:
Adopt best practice in the identification, evaluation and cost effective control and management of risks to ensure that they are eliminated or reduced to an acceptable level.
Each service has a service risk register which is owned by the business manager and is reviewed on a quarterly basis. The Corporate Governance and Strategy team provide support in reviewing and updating these risk registers. A guidance document has been produced to assist BMT in reviewing their service risk registers. There is also a checklist that can be used to prompt consideration of risks for inclusion in the register.
Strategic level risks are included in the strategic risk register which is published on the website. Each risk is owned by a member of SLT and the appropriate Cabinet Member.
It is acknowledged that some risks will always exist and will never be eliminated. All employees must understand the nature of risk and accept responsibility for risks associated with their area of authority. The necessary support, assistance and commitment of senior management will be provided.
Our work on Health and Safety is a key element of managing risk.
For more information on the our approach to risk management, please refer to the Risk Management Policy; or contact Jane Nottage, ext 3188 for any queries.