Business Risk Assessment
Articulate, communicate and assess organisational risk appetite frameworks and risk statements across the organisation
Type
Domain
Competency Area
Risk Management, Governance and Regulatory Compliance
Levels
Identify and assess risk events, respond according to risk appetite statements
Identify and analyse risk events in the business units to contribute to risk management processes
Implement risk control activities to support implementation of risk management responses
Establish risk contexts to define scope of risk management processes in the business units
Review and analyse internal and external influencing factors and recommend solutions
Identify necessary risk response activities to support risk management philosophy
Evaluate and select appropriate risk response activities to achieve appropriate Return on Investment (ROI)
Implement procedures to inform employees of risk management processes and activities
Refine and communicate risk appetite framework, statements, goals and metrics
Facilitate alignment of organisation's risk management philosophy and strategies with organisational strategic objectives, culture and values
Assess business environment to determine impact on critical business functions, risk management philosophy and vice versa
Refine risk management philosophy and strategies in consultation with relevant stakeholders
Communicate risk management philosophy and strategies to employees
Articulate risk management philosophy and define risk appetite statements
Establish organisation’s internal and external contexts for managing risks
Assess implications of risk management philosophy and strategies in endorsing philosophy and establish strategies with reasonable assurance
Ensure alignment of risk management philosophy and strategies with organisational strategic objectives
Refine risk management philosophy and strategies in accordance with organisational guidelines and/or policies