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Council reviews draft risk-appetite statement to guide enterprise risk management
Summary
Staff presented a draft risk-appetite statement as the first step toward a broader enterprise risk-management program; council asked for examples, comparisons to other jurisdictions, and for staff to share supporting policy drafts.
Staff member Christina (presenting the draft risk-appetite statement) told the council the document is intended to provide council-level guidance that department-level risk-management policies can reference.
"The risk appetite statement is kind of a part of a more of like enterprise risk management," Christina said, explaining the document grew out of a cybersecurity assessment that identified several needed policies. She described the draft as "very generic" and "a place to start," saying staff are open to edits and further refinement.
Council members asked for concrete examples of how the appetite levels (low, moderate, high) would be applied to decisions, comparisons to Anchorage, Juneau and Mat-Su, and a preview of the policy committee's draft. Christina and staff said the policy committee will finish a risk-management policy and that they can pull the appetite section into a standalone resolution for council approval.
Council direction: staff will provide comparative examples and copies of draft policies to help council members prepare input and vote on a finalized resolution.
