ERM concepts and Risk categorisation [25]

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Bullet points include: ERM a key part of setting and monitoring Board strategy Strategy should reflect risk appetite and risk capacity, e.g. Which projects launched or withdrawn, started or shut down Which risks retained, mitigated or transferred Whether firm expands up or down its value chain, or moves to new pastures Defining a firm’s risk appetite is an essential precursor to successful ERM and we will explore it more fully in a later Session

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