An approach to top-down risk management and alignment: a practical guide to risk strategy for boards of organisations.
A paper setting out how organisations can:
- define their risk tolerance by linking it to ‘outcomes’
- identify the possible causes of these bad outcomes
- understand the likelihood of these outcomes occurring and the steps that could be taken to reduce their likelihood
- review these regularly together with lessons learned
- align with bottom-up operational risk management through risk tolerance analysis and an escalation process
Please read a speech given by Trevor Llanwarne on effective and efficient strategic risk management in government which relates to the third document on this page.