Risk Management
Risk Management at Mid Beds
Risk Management is an issue that all local authorities have to address if they are to meet the requirements expected of them through the Corporate Governance Framework. Mid Beds District Council (MBDC) recognises the importance of effective identification and management of all key strategic and operational risks. A Risk Management Strategy and Policy document was approved in September 2006. These documents have recently been reviewed. The Audit Committee approved a revised Risk Management Policy in September 2007. These documents are valid until March 2009 (see attached documents at bottom of this page).
Risk Management does not exist in isolation. It should be viewed in relation to events that could impact on the Council achieving its objectives. Risk Management is also about empowerment and the creation of value as well as preventing things from happening. In practice, risks within the Council exist at different levels:-
- Strategic Risks – high level risks that may impact on the Council's ability to meet its corporate objectives.
The Strategic risks are recorded in a Corporate Risk Register, which forms part of the Risk Management arrangements for MBDC. One of the important aspects of this register is that it not only shows where we are, but also where we would like to be, and change in risk scores are noted over time, so a trend can emerge. The Register is owned by the Management Team (MT), supported by assurances obtained from other Officers. The Audit Committee oversee our Risk Management arrangements. Great emphasis is placed upon the need to develop a Risk Management process, which is robust, transparent and appropriate to the risks and size of our Authority.
Attached below is the latest copy of our Corporate Risk Register, which is updated on a quarterly basis.
- Operational Risks – service based risks that may prevent individual service aims and objectives being met (and therefore impact upon the attainment of corporate objectives).
Operational Risk Registers are in place for all divisions.
* Download Corporate Risk Regsiter - June 08 (application/pdf; 39kb)
* Download Risk Management Strategy - September 2006 to March 2009 (application/pdf; 28kb)
* Download Risk Management Policy September 2007 (application/pdf; 72kb)
