Issue - meetings

(i)       in relation to the Risk Appetite Overarching Statement, at Financial, to replace hungry (third line down) with open;

(ii)       to otherwise approve the Risk Appetite Statement (RAS) attached as Appendix (A);

(iii)      to instruct the Chief Officer – Governance to propose amendments to the Scheme of Governance to the meeting of Full Council scheduled for 3 March 2021 to reflect the Risk Appetite Statement; and

(iv)      to instruct the ALEO Assurance Hub to consider a review of risk appetite within each ALEO as part of the Hub’s workplan for 2021.

The Committee had before it a report by the Chief Officer - Governance which presented the Risk Appetite Statement.

The report recommended:-

That the Committee -

(a)      approve the Risk Appetite Statement (RAS) attached as Appendix (A);

(b)      instruct the Chief Officer – Governance to propose amendments to the Scheme of Governance to the meeting of Full Council scheduled for 3 March 2021 to reflect the Risk Appetite Statement; and

(c)      instruct the ALEO Assurance Hub to consider a review of risk appetite within each ALEO as part of the Hub’s workplan for 2021.

Members raised concerns in relation to the risk rating hungry under the financial category in the overarching statement and requested that the rating be changed to open.

In response to a question regarding what discussions had taken place with ALEO’s, the Assurance Manager advised that the ALEO Assurance Hub were consulting with the ALEO’s which included reference to the Risk Appetite Statement, with responses due this week.

The Committee resolved:-

(i)       in relation to the Risk Appetite Overarching Statement, at Financial, to replace hungry (third line down) with open; and

(ii)      to otherwise approve the recommendations as contained in the report.