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Appendix B

Corporate Risk Register

The Councilís corporate risks are those risks which could impede the achievement of our strategic objectives.† The corporate risk register was last reported to Members in June 2020.† ††

Risks are assessed based on likelihood and impact, as defined on the following page.† Current risk, considering any existing controls in place to manage the risk, is assessed initially, then Mitigated risk, taking account of planned further controls, is assessed.

A notional financial evaluation of mitigated risk for each of the risks on the Corporate Risk Register is set out below.

 

 

Financial impact

 

Risk

Lower

Upper

Mid-point

Likeli-hood

Weighted

 

 

£000

£000

£000

%

£000

 

Major emergency

500

1,500

1,000

50

500

Resurgence of current Covid-19 outbreak

250

750

500

75

375

Environmental damage

250

750

500

75

375

Poor partner relationships

250

750

500

50

250

Financial restrictions

250

750

500

75

375

IT security failure

250

750

500

50

250

Loss of community engagement

25

75

50

50

25

Housing pressures increasing

125

375

250

50

125

Not fulfilling residential property responsibilities

125

375

250

50

125

Major project failure

250

750

500

25

125

Contraction in retail and leisure sectors

250

750

500

95

475

Significant contract failure

125

375

250

25

63

Building of incomplete communities

125

375

250

50

125

Short-term Brexit impacts

125

375

250

50

125

Governance failures

250

750

500

25

125

Insufficient workforce capacity and skills

25

75

50

25

12

Not fulfilling commercial property responsibilities

125

375

250

25

63

Total Weighted Financial Impact

 

 

 

 

£3,513

 


 

†††††††††

Risk Impact

†††††††††

Risk Likelihood