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RISK APPETITE, TOLERANCE & CRITERIA
To manage risks effectively we must understand the extent of our true risk appetite and tolerance for specific risks, as well as how we are going to measure it.
Risk Appetite, Tolerance & Criteria Course
What is Risk Appetite, Tolerance and Criteria?
Risk appetite refers to the overall level of risk that your organisation is willing to pursue or retain. It therefore allows you to determine how much you’re willing to take risks in order to achieve your objectives.
On the other hand, risk tolerance is an organisation’s readiness to accept bearing the risk or the variation in outcomes. Undoubtedly, there will be times when an organisation’s ability to bear risks is greater than initially expected.
Course Description
Every organisation defines what is meant by risk appetite and tolerance in a slightly different way. This interactive and hands-on course will give you clear insight into what is meant by risk appetite, tolerance, capacity and criteria.
Real-life case studies relevant to those participating in the course will be used to demonstrate where risk appetite, tolerance and criteria has been successfully designed and implemented within organisations. The training results in you drafting a number of your own risk appetite, tolerance and criteria fit for testing within your own organisation.
WHAT PEOPLE SAY
—Jordyn Aitken, HSE Systems Manager ALLTECH
"I never expected an online training to be so energetic and interactive, but I didn’t feel at all like we were missing anything by not being in a classroom. So many great takeaways for me (as is evidenced by my copious notes taken), and I leave the training feeling inspired with plenty of food for thought. Really brilliant training, and I wish I’d taken it sooner! So thanks to you all for everything."
LEARNING OBJECTIVES
- Explain what is meant by risk appetite, tolerance and criteria to everyone in your organisation, from Board to front line.
- Benchmark your own organisation against case studies displaying situations when risk appetite, tolerance and criteria have been successfully (and unsuccessfully) implemented.
- Explore a variety of methods that can be used to establish your own risk appetite, tolerance and criteria.
- Test a number of techniques for facilitating interactive risk appetite and tolerance workshops.
- Understand how risk appetite and tolerance can be used as a tangible method for establishing and building the risk culture that you desire in your organisation.
OUTCOMES
- An understanding of how your organisation measures up against others regarding the use of risk appetite, tolerance and criteria, and the potential of using it to help enhance your organisation’s risk culture.
- The ability to apply a number of different techniques to your own organisation to help establish its risk appetite, tolerance and associated criteria.
- A plan for how you might organise and facilitate an interactive risk appetite and risk tolerance workshop for leadership within your own organisation.
Meet one of the trainers
DR SARAH GORDON
Dr Sarah Gordon is passionate about both risk management and training. No matter where she is delivering her training courses, be it in the heart of the Congo or in the Satarla Training Centre in London, they are always energetic, informative and fun.
Sarah started out as an Exploration Geologist, working for one of the world’s largest mining companies. Lucky enough to have lived and worked in countries like Canada, Brazil, South Africa and the UK, she moved from Geology into Safety & Sustainability and then Risk Management.
In 2014, Sarah co-founded Satarla with two other risk management experts: Laura Mallabone (Engineer) and Tankiso Moloi (Accountant). Together, they have built Satarla to the 75-strong (and counting!) Associates of today, based all around the world.
Satarla is passionate about making risk management real and practical. Our three focal points of Risk Management Training, Consultancy and Research enable Satarla to constantly challenge best practice within risk management and ensure all advice given is based on experience.
Sarah is an accredited trainer and course designer for the Institute of Risk Management, Honorary Lecturer at Imperial College London, Associate Researcher at the University of Johannesburg, Chair for Foreign and External Affairs at the Geological Society of London and the CEO of Satarla.
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