RISK MANAGEMENT POLICY
STANSTED MOUNTFITCHET PARISH COUNCIL
Adopted by Full Council on 21st July 2021
Reviewed and re-adopted by Full Council on 22nd May 2024
What is Risk Management?
Risk is a threat that an event or action will adversely affect the council’s ability to achieve its objectives, implement its strategies and provide its services. Risk Management is the process by which risks are identified, evaluated, addressed and reviewed. The council recognises that it has a responsibility to take all reasonable and practical measures to safeguard its employees, the people it works with and provides services for; and to protect the natural and built environments for which it is responsible.
The council is aware that some risks cannot be eliminated fully and has in place a strategy that provides a structured, systematic and focused approach to managing risk and including where necessary, the introduction of internal controls and/or appropriate use of insurance cover.
Objectives
The objectives of the risk management policy are to:
- Integrate risk management into the culture of the council
- Manage risk in accordance with best practice and legislative requirements
- Minimise loss, disruption, injury and damages
- Inform policy and operational decisions by identifying risks and their likely impact
- Raise awareness of the need for risk management
These objectives will be achieved by
- Incorporating risk management considerations into council processes- including communication to councillors
- Identification of risk
- Undertaking risk assessments
- Managing the risk and recording actions
- Providing appropriate training – to staff and councillors
- Establishing clear roles, responsibilities and reporting lines
Risk Register
The risk register enables the parish council to assess the risks that it faces and confirm that it has taken appropriate steps to manage those risks.
The risks identified, described and evaluated according to the potential consequence of the risk occurring (impact) and how likely this is (likelihood) i.e high, medium or low risk.
The risks are identified, assessed and recorded on the risk register and will be reviewed by the council not less than annually.