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Risk appetite / Risk team structure [53]

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Bullet points include: Next step involved producing a “risk map” E.g. with bubbles representing: Expected effect of risk on relevant objective (horizontal axis) Estimated probability that impact materialises (vertical axis) In each case based on experts’ best guess if ‘worst credible’ outcome materialises Management uses risk map to track historical development of particular risks and to project expected future developments Bubble size indicates extent of management confidence in effectiveness of company’s controls and efforts to limit exposure

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