Risk Appetite and Tolerance

Intake Opening Soon 5:00 - 7:00pm Online

Risk appetite and tolerance are topics that need to be high on any board’s agenda. It is a core consideration of an enterprise risk management approach. This session aims to provide a practical approach to support the right discussions and decisions at all levels of the organisation around this topic.

Description:

During this course, we will look at how risk appetite and tolerance differ for different organisations. What is ultimately a structured approach towards risks differs over time and will vary across industries, cultures and objectives set by organisations. In addition, a range of appetites exist for different risks, situations and opportunities.

Through this course, we will look at this difference and the framework within which they can be defined. We will also analyse how these can be measured and customised to an organisation’s needs Of course ongoing monitoring and proper communications are key aspects that need to be properly designed and implemented for the success of any such approach.

Course Topics:

  • The difference between risk appetite and risk tolerance
  • The risk appetite framework
  • KRIs, KPIs and other metrics
  • Customizing risk appetite for your organization’s needs
  • Monitoring and control
  • Communication and formalization

Learning Objectives:

  • Understand the concept of risk appetite and tolerance withi the overall lrisk appetite framework.
  • Evaluate the need, scope and measures required for different types of organisations.
  • Discuss the process of setting the various limits and levels.
  • Learn how to identify set and maintain KPIS, KRIs and other metrics.
  • Understand the need to formalise and communicate at various levels within an organization.

Target Audience:

  • Risk Managers
  • Risk Officers
  • NEDs or aspiring NEDs
  • Directors or aspiring Directors
  • Managers/Heads/Directors outside of those having a direct role in risk management

Assessment Questions and Answers:

In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%)

Trainers

Stefan Lia, ACII, BA(Hons) Fin. Serv., MSc, CRISC

Stefan Lia currently Heads the Governance, Risk and Compliance Function at Betsson Group. His responsibilities include coordinating internal audit, managing the group insurance program, designing, implementing and managing risk management and governance processes and acting as advisor to operational management on various matters.

Stefan started his career working with a Maltese insurer where he was responsible for Commercial Insurance underwriting. This was followed by a stint at the MFSA where he spent over four years as part of the Consumer Complaints Unit. Prior to joining Betsson in his current role, he was part of the team Risk Advisory at Deloitte Malta.

Stefan holds an Advanced Diploma in Insurance from the Chartered Insurance Institute, a BA Hons in Financial Services from University of Edinburgh Napier and MSc in Risk Management from Glasgow Caledonian University and is certified in Risk and Information System Controls by ISACA.

 

 

I'm interested in this course

If you are interested to join this course when the intake is open please fill in the form below.

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