Running risk workshops to inform strategy and understand risk appetite
Veritau’s risk management team was approached by one of our district councils to support them in various areas. Building on expertise gained working with another district council, the team used the Pentana system for managing risks.
We facilitated a number of risk workshops, using tools endorsed by the Institute of Risk Management. This included the ‘risk bowtie’ framework – a really useful exercise for exploring identified risks.
We use the bowtie model to understand risks further, exploring:
- What is the risk?
- What are the causes – what could make this risk materialise?
- What are the consequences?
- Proactive controls – aiming to reduce the likelihood of risk occurring
- Reactive controls – aiming to reduce the impact of the risk
Workshops were held with the council’s corporate management team and also specific service teams. Feedback from a district council’s chief executive included:
“A really good session which had been well prepared. The delivery was swift, natural and set at a great pace, which encouraged energy from the whole team. The speed and energy of the training session did not stifle debate – on the contrary. Some really snappy and insightful discussions took place. Good interaction and feedback. I think the whole team benefited from a better understanding of the corporate risks and how the controls mitigate the risk.”
We also redesigned their strategy, developed a risk appetite statement and produced guidance for managers. These integrated with the council’s corporate objectives. Review and development of the guidance are ongoing since risk management should never be a one-off project.
Our risk management specialists
Connor has experience of internal audit within both the public and private sector, delivering complex and varied work. He is the audit lead for Scarborough Borough Council, Ryedale District Council and Richmondshire District Council and also leads on our risk management services. Connor is currently studying for a qualification in Internal Audit Leadership.
Senior Internal Auditor
Neil is a Certified Internal Auditor with more than 15 years’ experience in internal audit. He has delivered a variety of assurance reviews across a range of service areas, including main financial systems and school audits. Neil is a member of Veritau’s risk management group and is currently studying for the Certificate in Enterprise Risk Management.