Corporate Objective No 1: To Deliver for Money Services to our Customers Report on Board Action Plan Risk Description Current Controls Assurances Action By Whom Comment (Include DATE Risk Score End ADDED) Date L I S Rate 4. BSO will face the 3 4 16 High Policies & Procedures; SMT monitoring; SMT oversight of Directors Teams continue to risk of legal Service Risk Register - Risk reporting & actions to reduce address. challenge and/or Risk Action Plan; review; aged invoices. December financial loss under Corporate Scorecard to 2015 new legislation, the Invoice Backlog Team Board monthly. Prompt payment Late Payment of operational from 1st figures across HSC Commercial Debt May. averaged at 91.21 Regulation 2013, YTD as at end which requires 30 Review of existing October. day payment of payment procedures. supplier invoices. Initiatives including Self-Bill and Cloud Risk Owner Invoicing are being All Directors implemented by the Benefits Realisation Project which will improve Prompt Type of risk: Payments. Political, Economic, Legislative / Statutory, Financial, Legal, Performance management , Customer/Citizen &
Corporate Objective No 1: To Deliver for Money Services to our Customers Report on Board Action Plan Risk Description (Include DATE ADDED) Current Risk Score Controls Assurances Action By Whom End Date Comment L I S Rate 4. BSO will face the risk of legal challenge and/or financial loss under new legislation, the Late Payment of Commercial Debt Regulation 2013, which requires 30 day payment of supplier invoices. Risk Owner All Directors Type of risk: Political, Economic, Legislative / Statutory, Financial, Legal, Performance management , Customer/Citizen & 3 4 16 High Policies & Procedures; Service Risk Register - Risk Action Plan; Invoice Backlog Team operational from 1st May. Review of existing payment procedures. SMT monitoring; Risk reporting & review; Corporate Scorecard to Board monthly. SMT oversight of actions to reduce aged invoices. Directors December 2015 Teams continue to address. Prompt payment figures across HSC averaged at 91.21 YTD as at end October. Initiatives including Self-Bill and Cloud Invoicing are being implemented by the Benefits Realisation Project which will improve Prompt Payments.
CorporateRiskReport.docx