Risk appetite. Taking and accepting the right amount of risk.
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.