Risk Appetite Framework
Empower your organisation to better understand, assess, and manage risks in alignment with your strategic objectives, ultimately driving sustainable business performance and resilience
Chart your course with confidence: navigate risks with clarity
Financial institutions are increasingly adopting a risk-based approach to prioritise controls concerning technology risk and cyber risk. In addition to this, there is a constant pressure on organisations, particularly financial institutions, from regulators to better articulate their risk appetite. However, the question remains: can organisations genuinely formulate strategic, unbiased decisions regarding the implementation of controls, considering their tolerance for technology risk and cyber risk?Â
A clear risk appetite framework is the cornerstone of successful risk-based management. This is where our Risk Appetite Framework solution comes into play. A tool to support management’s strategic decision making process, risk-based management compares risk against an organisation’s risk appetite to identify areas requiring additional technology and cyber controls. Our structured, comprehensive risk appetite framework is synchronised across your business, technology function, and the second line, offers various advantages. The objective is to diminish the residual technology and cyber risks to a level acceptable to the business.
- Facilitating transparent communication with the board enabling business-oriented discussions on investments and priorities.
- Establishing an impartial platform for dialogue between the first and second lines of defence regarding the level of residual risk.
- Assisting both the first and second lines in providing regulators with objective evidence that the organisation is proficiently managing technology risk and cyber risk in line with the risk appetite.
Experience the future of risk management with our intelligent risk appetite framework solution
Risk appetite statement
Clearly define the level of risk that your organisation is prepared to assume broadly in pursuit of its objectives, taking into account the associated costs and benefits.
Risk limits
Set thresholds to monitor the actual risk exposure of a specific business unit or units of your organisation to ensure that the level of aggregate risk remains within the risk tolerance.
Outline of roles and responsibilities
Clearly define the roles and responsibilities of individuals within your teams who are overseeing the implementation and monitoring of the risk appetite framework.
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