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Relationship to the Strategic Plan / Health Impact Assessment
This report relates to the priority of "Responsive, Fiscally Prudent, Open Governance" as outlined in 2015-2018 Corporate Strategic Plan.
Report SummaryIssue: Risks faced by the City of Greater Sudbury may not be managed systematically.
Rule: Risks should be formalized and in accordance with a defined policy and process.
Analysis: An audit of risk management processes identified different approaches to manage risks within the City.
Conclusion: A formal risk management policy be developed in conjunction with an Enterprise Risk Management(ERM) process.
The recommendations in this report have financial implications.