To receive a report from the Group Manager for Performance, Governance and Data Security presenting the Committee with the updated Risk & Opportunity Management Strategy for approval.
The Committee had before it a report * from the Group Manager for Performance, Governance and Data Security presenting it with the updated Risk & Opportunity Management Strategy for approval.
This was the annual review of the Strategy and this year there had been no suggestion to change the risk appetite/ tolerance, this was best summarised as ‘the amount of risk an organisation was willing to seek or accept in pursuit of its long term objectives’.
The report presented the tracked changes since the last review and included some minor amendments in relation to job titles and removal of the scoring section which is now in the appended Risk Manager guidance document. The Committee’s attention was drawn to the day to day risk guidance given to managers. It was hoped that this would reduce inconsistencies in the future.
RESOLVED that the updated Risk & Opportunity Management Strategy be approved.
(Proposed by the Chairman)
Note: * Report previously circulated; copy attached to the signed minutes.