Welby Parish Council - Risk Management & Assessment Policy
Welby Parish Council – Risk Management Policy Statement
Definition of Risk Management
Risk is the threat that an event or action will adversely affect an organisation’s ability to achieve its objectives and to successfully execute its strategies. Risk management is the process by which risks are identified, evaluated and controlled. It is a key element of the framework of governance together with community focus, structures and processes, standards of conduct and service delivery arrangements.
Risk Policy Statement
Welby Parish Council recognises that it has a responsibility to manage risks effectively in order to protect its Councillors, assets, liabilities and the community against potential losses, to minimise uncertainty in achieving its goals and objectives and to maximise its opportunities.
Welby Parish Council is aware that some risks can never be eliminated fully and it has in place a strategy that provides a structured, systematic and focused approach to managing risk.
Approach to Risk Management
Welby Parish Council’s approach to risk management requires that all risks should be systematically identified and managed in the most cost effective manner within overall resources available.
Each risk identified by the council is recorded in the council’s risk assessment. The impact is assessed, appropriate control measures are put in place and the frequency with which the risk should be reviewed is determined.
Responsibility for Risk Management
Welby Parish Council recognises that it is the responsibility of all Councillors and The Clerk/Responsible Financial Officer (RFO) to have regard for risk in carrying out their duties. If uncontrolled, risk can result in a drain on resources that could better be directed to front line service provision and to the meeting of the council’s objectives and community needs.
This policy has the full support of Welby Parish Council which recognises that any reduction in the risk of injury, illness, loss or damage benefits the whole community.
The co-operation and commitment of all Councillors and The Clerk is required to ensure that council resources are not wasted as a result of uncontrolled risk.
The council is responsible for ensuring that this procedure is adhered to. This Policy and Risk Assessment is reviewed annually in May at Annual General Meeting.