For grading risk, the scores obtained from the risk matrix are assigned grades as follows 1 - 3 Low risk 4 - 6 Moderate risk 8 - 12 High risk 15 - 25 Significant risk APPENDIX 4: Authority levels for managing different levels of risk and risk escalation All action plans required must use the template shown as Appendix 5: Risk Action Plan and Assurance Report Key Risk Management Actions Action Plan Requirements Levels Category of Risk To be brought to the attention of the department/ Formal action plan not required team leader. Manage by routine procedures 1-3 Low Risk Line Manager - immediate control measures in Head of Department to decide whether place - review risk assessment - inform Heads of to Accept the Risk. If Accepted no formal Department. Specific responsibility for risk action plan is required. If risk requires 4-6 Moderate Risk assessment and action planning must be allocated Mitigation a formal action plan must be to a named person. Deadline for completion will produced. The Risk will be managed at usually be within 6 to 12 months and will depend Departmental Level. on the availability of resources. Urgent attention required. To be brought to the Director to decide whether to Accept the attention of the responsible Director, Heads of Risk. If Accepted no formal action plan is Department, Line Manager - immediate control required. If risk requires Mitigation a measures put in place - review risk assessment - formal action plan must be produced. The 8-9 High Risk action plan devised. Within one month of Risk will be managed at Directorate level. identification appropriate action must be agreed. The deadline for implementation and reassessment will normally be no later than 6 months from identification. Urgent attention required. To be brought to the An action plan should be produced. The attention of the responsible Director, Heads of risks must be added to the Corporate Risk Department, Line Manager - immediate control Register or the Directorate Risk Register. measures in place - review risk assessment - action The Director must also decide whether to plan devised. Within one month of identification recommend that the risk be escalated to 10-12 High Risk appropriate action must be agreed. The deadline the Governing Body Assurance for implementation and reassessment will normally Framework. This may be agreed in be no later than 6 months from identification. exceptional circumstances even though the risk is scored below 15. Otherwise management and oversight of the risk
For grading risk, the scores obtained from the risk matrix are assigned grades as follows 1 - 3 Low risk 4 - 6 Moderate risk 8 - 12 High risk 15 - 25 Significant risk APPENDIX 4: Authority levels for managing different levels of risk and risk escalation All action plans required must use the template shown as Appendix 5: Risk Action Plan and Assurance Report Key Levels of Risk Risk Category Management Actions Action Plan Requirements 1-3 Low Risk To be brought to the attention of the department/ team leader. Manage by routine procedures Formal action plan not required 4-6 Moderate Risk Line Manager - immediate control measures in place - review risk assessment - inform Heads of Department. Specific responsibility for risk assessment and action planning must be allocated to a named person. Deadline for completion will usually be within 6 to 12 months and will depend on the availability of resources. Head of Department to decide whether to Accept the Risk. If Accepted no formal action plan is required. If risk requires Mitigation a formal action plan must be produced. The Risk will be managed at Departmental Level. 8-9 High Risk Urgent attention required. To be brought to the attention of the responsible Director, Heads of Department, Line Manager - immediate control measures put in place - review risk assessment - action plan devised. Within one month of identification appropriate action must be agreed. The deadline for implementation and reassessment will normally be no later than 6 months from identification. Director to decide whether to Accept the Risk. If Accepted no formal action plan is required. If risk requires Mitigation a formal action plan must be produced. The Risk will be managed at Directorate level. 10-12 High Risk Urgent attention required. To be brought to the attention of the responsible Director, Heads of Department, Line Manager - immediate control measures in place - review risk assessment - action plan devised. Within one month of identification appropriate action must be agreed. The deadline for implementation and reassessment will normally be no later than 6 months from identification. An action plan should be produced. The risks must be added to the Corporate Risk Register or the Directorate Risk Register. The Director must also decide whether to recommend that the risk be escalated to the Governing Body Assurance Framework. This may be agreed in exceptional circumstances even though the risk is scored below 15. Otherwise management and oversight of the risk
5.MCCG%20Risk%20Management%20Policy%20March%202016.docx