Risk Appetite: Statements and Frameworks April
Risk Appetite: Statements and Frameworks April
An RMIA Virtual Course in partnership with The Protecht Group.
The setting of an organisation’s Risk Appetite is a critical component of a robust risk management framework. This workshop is focused on improving knowledge and skills in relation to setting Risk Appetite and Tolerance for all of your organisation’s key risks and developing a comprehensive Risk Appetite Framework and Risk Appetite Statement.
1. Risk Appetite - What Does It Mean?
- The concept of Risk Appetite
- Appetite, Tolerance, Capacity
- Purpose and use for risk appetite
- Escalation and Reporting
- Decision Making
- Strategic Planning
2. External Guidance on Risk Appetite
- Regulations and standards requiring Risk Appetite
- ISO 31000 and Risk Appetite
- Market guidance
3. Risk Appetite Framework
4. Risk For Which Appetite is Required
- 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
- Quantitative – Risk Tolerances
- Semi Quantitative – Risk Matrix
6. Appetite Articulation and Appetite Evaluation Zones
- Qualitative appetite zones – How many? Labels? Meaning?
- Escalation Zones - How many? Labels? Meaning?
- Using the traditional matrix – does it make sense?
7. Setting Qualitative Risk Appetite For Each Key Risk
- Implications for each level of appetite – the other side: Strategy and Impact on Outcomes and Cost
- Process of appetite setting
8. Setting Thresholds For Risk and Performance Metrics
- Determining which metrics? KPIs, KRIs and KCIs
- Setting the boundary thresholds
9. The Traditional Likelihood and Impact Matrix
- Does it work for risk appetite?
- Modifications needed to reflect risk appetite
- Setting scales for Likelihood and Impact
10. Setting Risk Tolerances for Financial Risks
- Which measures can be used where data is plentiful?
- Examples of key financial risk measures
11. Setting Risk Tolerances for Non-Financial Risks
- Which measures when data is not plentiful
- Examples of key operational risk measures
12. A Framework for Setting and Maintaining Appetite Levels
- Roles, Responsibilities and Ownership
- Reviewing and updating – when and how?
13. Documenting the Risk Appetite
- Content and Format – A blueprint RAS
14. Operationalising the Risk Appetite
- Cascading through the business
- Artefacts to use: Polices, Delegations etc.
15. Risk Reporting Using the Risk Appetite
- Linking Board reporting back to the RAS
- A proforma Board risk report
- Managing by exception
Format of the Course
This course is delivered online. This event is offered as 2 x 3.25 hours interactive sessions (total 6.5 hours) over 2 days via GoToTraining online.
About Your Trainer: David Tattam, Chief Research & Content Officer, The Protecht Group
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 pioneer the development of risk management to its rightful place as a key driver of value creation in each of Protecht’s clients. David is the driving force behind Protecht’s risk thinking, pushing risk management to the frontiers of what is possible. He is also focused on driving the uplift of people risk capability through training and content.
David is passionate about risk and risk management and in reaping the value that risk and good risk management can create for any organisation willing to embrace it. He is particularly passionate about risk management research and is prolific in creating a wide range of content delivered in blogs, ebooks, webinars and training courses. He has developed Protecht’s comprehensive suite of risk management training courses and has, and continues, to train many thousands of risk practitioners across the globe. David also manages Protecht’s consulting business offering a range of risk consulting capabilities from Risk Management Framework to Risk Appetite Statement development.
He is also the author of "A Short Guide to Operational Risk".
DATES & TIMES - THE SESSIONS:
Session 1 9:00am - 12:15pm AEST on Monday, 3 April 2023
Session 2 9:00am - 12:15pm AEST on Wednesday, 5 April 2023
AEST = UTC +10:00
LOCATION: GoToTraining for both Sessions
PRICE: $770.00 incl.GST for Members
$924.00 incl. GST for Non-Members
CPD: 12 points
When you register for this course you agree to the RMIA passing your registration details onto our Training Partner, The Protecht Group.
Group Bookings: For Group Bookings, please contact us via email on firstname.lastname@example.org or by phone on 02 9095 2500.
The time on your ticket when issued is the RMIA server timezone and may differ to the time of the event in your timezone. Please check this registration page for correct TIMEZONE and ACTUAL SESSION TIMES.
Registration for each session will close 24 hours prior to the event when final Zoom invitation details will be sent, we cannot guarantee receipt of the Zoom invitation details after this time.
If you are experiencing any issues registering, please contact us on the below number.