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Risk appetite / Risk team structure [4]

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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”

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