Risk Appetite Statements are tricky to develop, and quite often, contradictory to organisational risk management processes. This session breaks down some of the myths and highlights how a Risk Appetite Statement can add value.
During this session, you will learn the terminology and approach to design valuable, meaningful and supportive Risk Appetite Statements. Taking guidance from international better practice guidance, content is designed to be repeatable and drive discussions towards effective decision making.
Course Content
- What is a Risk Appetite Statement and why is it beneficial?
- Keeping the thread: How does a Risk Appetite Statement ‘fit’ into risk management
- Key Risk Indicators: How does this support your Risk Appetite Statement?
- Key tips and tricks to develop a value add and specific (non disclaimer!) risk appetite statement?
- How can you embed a Risk Appetite Statement?
Course Outcomes
By the end of this course attendees should be able to:
- An understanding of what a Risk Appetite Statement is and why its beneficial
- How a Risk Appetite Statement can support good risk management practices
- How to develop and articulate a Risk Appetite Statement
Benefits to your organisation
- This session supports a complementary approach to ISO31000 risk management approaches and content, that can be applied to any department, any industry, any location
- The knowledge sharing and connection with other risk professionals supports discussion
Benefits to you
- Knowing what type and how much of risk to take can be challenging
- By having a specific and explicit risk appetite statement, you can understand your organisation’s risk tolerance to take risk in accordance with your organisation’s risk management practices