Risk appetite / Risk team structure [4]

Go to: Summary | Previous | Next   
Bullet points include: A well defined risk appetite should have the following characteristics: “Reflective of strategy, including organizational objectives, business plans and stakeholder expectations Reflective of all key aspects of the business Acknowledges a willingness and capacity to take on risk Is documented as a formal risk appetite statement Considers the skills, resources and technology required to manage and monitor risk exposures in the context of risk appetite Is inclusive of a tolerance for loss or negative events that can be reasonably quantified Is periodically reviewed and reconsidered with reference to evolving industry and market conditions Has been approved by the Board”

Contents | Prev | Next | ERM Lecture Series

Desktop view | Switch to Mobile