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RISK MANAGEMENT London Borough of Ealing Adapted from a presentation by Gallagher Bassett Presentation Overview Content – What is Risk / Public Sector Implications – Risk Management in Ealing What is Risk Management? The threat that an event or action will adversely affect an organisations ability to achieve its objectives and execute its strategies successfully. (Audit Commission - ‘Worth the Risk’ 2001). Risk management is the identification, measurement,control and financing of of risks which threaten the existence, assets, earnings or personnel of an organisation or the services it provides. Risk management is a discipline for dealing with uncertainty. The culture, processes and structures that promote effective management of potential opportunites and adverse effects. Application to Public Sector • Local Authorities currently face pressures that potentially give rise to a range of new and complex risks and which suggest that risk management is more important now than at any other time. (Audit Commission July 2001) • Demands for greater transparency • Increased partnership working • Best Value • New leadership structures • New legislation • e-government • Demands for higher quality • Comprehensive Performance Assessment Councils with Good Risk Management • Focus- Cabinet and Management Team focused BUT continue to ID future risks and priorities • Performance Management - Council is Risk Aware especially when entering new arenas - always assesses risks inherent in activities • Investment - Council has clear understanding of risk and manages it appropriately Benefits of RM • Increased focus to • Better quality service meet objectives • Enhanced ability to • More satisfied justify actions taken citizens • Delivering Best Value • Supports innovation • Protection of • Fewer complaints Reputation • Controlled insurance • Getting things right costs first time • Competitive advantage Risk Management in Ealing Everyone Is Responsible for Managing Risk • Elected Members • Corporate Board • Directorate Management Team • Corporate Risk Management Group • Departmental Liaison Officers • Service Managers • Employees, contractors, partners Policy Strategy & Guidance • Risk Management Policy Statement • Risk Management Strategy Statement • Risk Management Guide Lines of Communication Cabinet Corporate Board Corporate Risk Management Group Directorate Management Team Departmental Liaison Officers Service Managers Employees Members’ Responsibilities • To formally approve the Council’s Risk Management Strategy. To issue Statements of Assurance annually to stakeholders after receiving reports/declarations from Chief Officers. • To hold Corporate Board accountable for effective management of risk by officers of the Council. • To consider risks identified in reports presented for their consideration.
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