Risk management involves having processes in place to monitor risks; access to reliable, up-to-date information about risks; the right balance of control in place to deal with those risks; and decision- making processes supported by a framework of risk analysis and evaluation. Risks should be managed in an integrated way at different key levels to manage interdependencies - strategic risk, operational risk, project risk.
Mission Statement for Risk Management, Insurance and Business Continuity
- To develop the Council's risk management framework, strategy and process in accordance with best practise
- To provide advice and support to the Leadership Team, Heads of Service and Service Managers regarding the identification, analysis, profiling and prioritisation of risks
- To report on overall progress on the management of risks to the Leadership Team and to the Cabinet
- To prepare regular progress reports on risk management for the Audit and Accounts Committee
- To establish arrangements for risk management training as appropriate to officers and members
- To communicate risk management issues/concepts across the Council
- To receive positive reports from the Audit Commission on the risk management function
- To maintain the adequacy and effectiveness of the Council's insurance cover
- To maintain the Insurance Fund and develop the Council's approach to self funding including provision of an efficient and effective claims handling/investigation service
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