Embedding Risk Appetite and Tolerance for a Large Petrochemical Company
In 2017, the Board members of this particular company all had slightly different interpretations of what risk appetite and tolerance was and should be used for. In addition, risk based decision making had to be at the heart of long term business strategy and goals, so a sustainable approach to enterprise risk management framework with easily applied tools was critical
Satarla introduced and embedded risk appetite and tolerance at board level utilising a truly Enterprise Risk Management approach.
This three year programme not only enabled the board to view risks as being both threats and opportunities, but also utilise risk appetite and tolerance as an objective tool through which to challenge the company’s long term strategy and communication between the Board and senior management.