Risk management strategy

Our risk appetite statement is creative and risk aware.

‘We wish to be creative and open to consider all potential delivery options with well measured risk taking whilst being aware of the impact of our key decisions’.

This means that our risk and assurance systems need to be working well so that we create an environment of ‘no surprises’. Whilst working within this overall context – ‘tone from the top’ – we acknowledge that our risk appetite will vary depending on the nature of the service.  For example, our appetite for risk taking on safeguarding adults and children is more cautious.  Where we undertake operations or initiatives outside the agreed risk appetite this must be reported and monitored through the appropriate executive director.  This helps promote informed decision-making based on risk awareness.

Leadership

Executive and Corporate Leadership Team (CLT):

• has the ultimate accountability for the risk environment
• is responsible for approving and reviewing risk policies
• sets the level of risk we are prepared to accept - our'risk appetite'

Escalation

Audit Committee is responsible for:

• overseeing the effectiveness of our risk management arrangements
• challenging risk information
• escalating issues to CLT or the Executive

Oversight and co-ordination

Risk and safety groups or equivalent groups (Corporate and Directorate) are responsible for the facilitation and co-ordination of our risk management activity.

Ownership

Directorates and services (all employees) are the 'risk takers'. They are responsible for identifying, assessing, measuring, monitoring, and reporting and escalating significant risks associated with their functions or activities which feed into directorate and strategic risks.

Assurance

Elected Members, Management, Corporate functions, third parties and internal audit as part of our combined assurance model give assurance on the management of risks and the operation and performance of controls.