Risk policy: Difference between revisions
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''Risk management'' | ''Risk management.'' | ||
Risk policy is the documentation of an organisation's risk tolerance, risk appetite and risk budget. | |||
It includes predetermined actions the organisation will take, or have in reserve, to deal with the range of future situations that might arise. | |||
Risk policy should cover commercial as well as treasury approaches to exposure management. | Risk policy should cover commercial as well as treasury approaches to exposure management. | ||
The policy should | The policy should make explicit that a risk management system has been designed to provide reasonable assurance of achieving business objectives. | ||
It should assign accountability for managing risks and reporting results on effectiveness of the system to executive management. | It should assign accountability for managing risks and reporting results on effectiveness of the system to executive management. | ||
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== See also == | == See also == | ||
* [[Accountability]] | |||
* [[Enterprise risk management]] | |||
* [[Guide to risk management]] | |||
* [[Exposure]] | * [[Exposure]] | ||
* [[Risk appetite]] | * [[Risk appetite]] | ||
* [[Risk budget]] | |||
* [[Risk control]] | * [[Risk control]] | ||
* [[Risk tolerance]] | * [[Risk tolerance]] | ||
* [[ | * [[Senior Managers Regime]] | ||
[[Category:Financial_risk_management]] | [[Category:Financial_risk_management]] | ||
Latest revision as of 16:49, 28 April 2022
Risk management.
Risk policy is the documentation of an organisation's risk tolerance, risk appetite and risk budget.
It includes predetermined actions the organisation will take, or have in reserve, to deal with the range of future situations that might arise.
Risk policy should cover commercial as well as treasury approaches to exposure management.
The policy should make explicit that a risk management system has been designed to provide reasonable assurance of achieving business objectives.
It should assign accountability for managing risks and reporting results on effectiveness of the system to executive management.
