Risk Management at Great Yarmouth Borough Council
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Overview
Risk management at Great Yarmouth Borough Council
Great Yarmouth Borough Council recognises that managing risk effectively is essential to delivering services, safeguarding public resources, and achieving the Council's objectives.
Risk is defined as the chance of an event occurring that could have an adverse impact on the Council's ability to deliver its services, meet its statutory duties, protect its reputation, or achieve its strategic priorities. Risks may arise from a wide range of factors, including financial pressures, service delivery challenges, information security, partnerships, and external events.
The Council adopts a proactive and structured approach to identifying, assessing and managing risks. This helps ensure that potential issues are understood and managed appropriately, while also supporting innovation and informed decision‑making.
How risk is managed
Our approach to risk management
Risk management at the Council is embedded within day‑to‑day management, service planning, project delivery and decision‑making. It is a shared responsibility across the organisation, involving elected Members and officers at all levels.
Our risk management approach includes:
- identifying risks at service, project and corporate level
- assessing risks based on likelihood and potential impact
- putting proportionate controls and mitigations in place
- assigning clear ownership and accountability
- reviewing risks regularly to reflect changing circumstances
Where appropriate, risks may be reduced, transferred (for example through insurance or contracts), tolerated within agreed risk appetite, or avoided entirely.
Risk Management Framework
The Council's approach is set out in its Risk Management Framework, which describes:
- roles and responsibilities for risk management
- how risks are identified, assessed and escalated
- the Council's risk appetite and tolerance
- how risks are monitored and reviewed
Read the full Risk Management Framework document.
Corporate Risk Register
The Council maintains a Corporate Risk Register, which identifies the most significant strategic risks that could affect the achievement of the Council's objectives.
These risks are reviewed regularly by:
- Management Team
- Executive Leadership Team
- Audit, Risk and Standards Committee
Following approval by the Audit, Risk and Standards Committee, the Corporate Risk Register is published annually to support transparency and accountability.
Read the full Corporate Risk Register document.
Disclaimer
This Corporate Risk Register is published to demonstrate the Council's approach to identifying and managing its most significant strategic risks. It does not constitute a guarantee that identified risks will not occur, nor that all possible risks have been identified.
The Register is subject to regular review and change and should be read in conjunction with the Council's Risk Management Framework.
Oversight and governance
Audit, Risk and Standards Committee
Oversight of risk management arrangements is provided by the Audit, Risk and Standards Committee.
The Committee's role is to provide assurance that:
- governance, risk management and internal control arrangements are effective
- strategic and operational risks are properly identified and managed
- the Risk Management Framework is operating as intended
This is achieved through the consideration of reports relating to internal audit, external audit, financial management, governance reviews and regular risk management reporting.
The Committee comprises seven Members appointed by Full Council in accordance with political balance requirements.
