Risk Appetite Statements and Frameworks (Global) - GRC Solutions

Risk Appetite Statements and Frameworks (Global)

4 Modules

Description

Improving your knowledge and skills around setting risk appetite and tolerance for your organisation’s key risks.

The setting of an organisation’s risk appetite is a critical component of a robust risk management framework. By the end of this course, you will gain insights into how to develop a comprehensive Risk Appetite Framework and Risk Appetite Statement for your organisation.  

Course overview

In this course, you’ll learn:  

1. The uses and value of risk appetite

  • Freedom to operate
  • Escalation and reporting
  • Decision making
  • Assurance
 

2. What risk appetite is and what it means

  • The concept of risk appetite
  • Appetite, tolerance, capacity
 

3. Risk appetite framework

  • Risk appetite and ISO 31000
  • Risk appetite as part of your ERM framework
  • The relationship between risk and reward
 

4. Determining risks to set appetite for

  • Linking to risk taxonomy
  • How granular?
 

5. Articulating risk appetite

  • Qualitative, quantitative and semi quantitative
  • Appetite for inherent and/or residual risk
  • The various ways risk can be measured and appetite articulated
  • A suggested framework for articulation
    • Qualitative
    • Quantitative – risk tolerances
    • Semi quantitative – risk matrix
  • Prohibition statements
 

6. Appetite articulation and appetite evaluation zones

  • Qualitative appetite zones
  • Escalation zone
 

7. Setting appetite and tolerance for outcomes and risks

  • Setting appetite for outcomes
  • Setting appetite for risks
  • Setting boundary thresholds
  • Visualising risk appetite and tolerances
 

8. Using the likelihood and impact matrix

  • Limitations of the risk matrix for risk appetite
  • Modifications needed to reflect risk appetite
 

9. Setting risk tolerances for financial and non-financial risks

  • Practically setting risk appetite
  • The principles of setting risk appetite
  • Setting risk appetite for financial risks
  • Examples of financial risk categories and measures
  • Setting risk appetite for operational risks
  • Setting risk appetite for strategic risks
 

10. The risk appetite statement

  • Content and Format – A blueprint RAS
 

11. Operationalising the risk appetite

  • Cascading through the business
  • Artefacts to use: policies, delegations etc.
 

12. Risk reporting using the risk appetite

  • Purpose of risk appetite reporting
  • Examples of reporting against risk appetite
 

13. Responsibilities for risk appetite

  • Roles, responsibilities and ownership
  • Who uses risk appetite
 

14. When risk appetite is revised

  • Dynamic risk appetite
  • Integration into strategic planning
  • Reviewing tolerance levels
 

Course expectations

  • Watch 23 videos
  • Answer 4 knowledge questions
  • Complete 1 interactive risk appetite test
  • Answer 10 quiz questions
 

Time

  • 3 hours of video content
  • Approximately 4 hours for the whole course

$858.00

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Risk Appetite Statements and Frameworks (Global)

$858.00

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Risk Appetite Statements and Frameworks (Global)

$858.00

Add to cart

Risk Appetite Statements and Frameworks (Global)

$858.00

Add to cart