MPA risk management update

Report: 9
Date: 2 December 2010
By: Chief Executive

Summary

The report summarises the development of the MPA risk management process. It also includes the current MPA corporate risk register and a more detailed assessment of key financial risks.

A. Recommendation

That: Members consider and comment on the MPA risk register and the financial risk assessment.

B. Supporting information

1. The risk register, attached at Appendix 1, contains the MPA current assessment of risks to the delivery of its objectives under Met Forward.

2. The register has recently been reviewed. The key changes are as follows:

• Current risk ratings have been reassessed and further actions to mitigate risk reviewed following an evaluation of the effectiveness of the control measures by MPA business unit heads,.
• The current position for the future governance of policing has been reflected and a further review will be undertaken when the Bill has been published.
• A more comprehensive assessment of equality and diversity risks has been undertaken by the new Head of Equalities and Engagement and the key elements added to the corporate risk register.

3. The Treasurer has also prepared a more detailed assessment of financial risks which is attached at Appendix 2. This assessment will also be shared with the Finance and resources Committee as part of the budget process.

4. The corporate risk register is regularly reviewed by the MPA Senior Management Team (SMT) and Business Management Group (BMG). Key emerging risks and issues are reported by the heads of business units and reviewed by BMG at its fortnightly meetings. Appropriate action is agreed and monitored on an ongoing basis by the MPA SMT and BMG and risks are added to the corporate register as appropriate.

C. Other organisational and community implications

Equality and Diversity Impact

Equality impact assessments will be conducted for each strand of Met Forward and for all MPA policies supporting the risk management process. Equality and diversity risks are integrated and evaluated as part of the overall assessment of key risks.

Consideration of Met Forward

Risk assessment forms an integral part of the performance management framework established for the delivery of Met Forward. Any risk to the delivery of the strands of Met Forward is included in the analysis of the emerging risks.

Financial Implications

An assessment of financial risks is undertaken as part of the annual budget submission cycle and is reported to Finance and Resources Committee. A more detailed analysis of current financial risk is also attached in Appendix 2. The cost of developing and maintaining control measures is included in the budgeted work plans for each business unit in the MPA.

Legal Implications

There are no direct legal implications arising from this report.

Environmental Implications

There are no direct environmental implications arising from this report.

D. Background papers

• Appendix 1 MPA Corporate Risk Register
• Appendix 2 MPA Assessment of Key Financial Risk

E. Contact details

Report author: Catherine Crawford, MPA Chief Executive

For information contact:

MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18

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