The setting of an organisation's risk appetite is a critical component of a robust risk management framework.
The explicit reference to an organisational risk appetite has been around for a relatively short while. The concept of risk appetite, however, has implicitly been around forever.
Like most aspects of risk management, however, there are those that love risk appetite and those that loathe it and all those in between.
In order to deliver value, risk appetite should not be considered as a standalone concept. It should be an integral part of the Enterprise Risk Management (ERM) framework and a key part in the wider management framework. It should influence culture and decision making and empower the organisation to take the right amount of risk to achieve the right level of outcomes.
In this ebook, we will share our experiences, lessons learned, and guidance for benchmarking risk. If you are just starting on your risk appetite journey, the practical planning tools provided will help you get started.
David Tattam is the Chief Research & Content Officer and co-founder of the Protecht Group. David's vision is to redefine the way the world thinks about risk and to develop risk management to its rightful place as being a key driver of value creation in each of Protecht's customers.
David is the driving force in driving Protecht's risk thinking to the frontiers of what is possible in risk management and to support the uplift of people risk capability through training and content.