Workshop on Developing and Implementing Effective Operational Risk Appetite Framework

Risk appetite framework is a primary tool for explicitly communicating to everyone in the organisation on what types and levels of risk are acceptable to the organisation. The key outcomes an organisation expects from an effective risk appetite framework are: – 

• Facilitating any business decision making process which could potentially change the risk profile of the organisation
• Allow the organisation to identify whether certain risks may breach the defined appetite in the near future or may have already breached the defined appetite
• Prevent risk owners across the organisation from taking reckless or excessive levels of risk beyond the agreed appetite

In this workshop, Manoj Kulwal will share guidance on how to develop an effective operational risk appetite framework and implement this across the organisation. Some of the key topics that will be covered during the session include: – 

• Aligning the risk appetite framework with the business strategy, objectives and organisational culture
• Understanding the key components of risk appetite framework such as risk tolerance and risk capacity
• Expressing risk appetite in qualitative and quantitative formats
• Cascading the risk appetite from group level to business units
• Aligning risk appetite framework with risk assessments
• Utilising the risk appetite framework as a key tool to facilitate business decisions in order to make risk-informed decisions
• Monitoring risk exposures vs. defined risk appetite
• Escalating and reporting risk appetite breaches

This workshop will be facilitated by Manoj Kulwal. Manoj is passionate about utilising risk management as a business management tool for designing effective business strategy and successfully implementing the selected strategy. He has been involved in development of the international risk management standard ‘ISO 31000’ and in development of ‘Certificate of Operational Risk Management’ offered by The Institute of Operational Risk. He has trained more than 1,000+ operational risk management practitioners from financial services firms globally over the last 5 years. He is currently the Co-Founder and Chief Risk Officer at RiskSpotlight. At RiskSpotlight, he leads the team that developed the world’s first forward-looking operational risk news service – RiskSpotlight Portal.

This event is being sponsored by Xactium. Xactium is a cloud based GRC software provider that helps Risk, Audit and Compliance professionals to transform the way that organisations evaluate and manage their enterprise risk. The value of the risk process and its profile is raised through the use of risk intelligence that improves efficiency and creates insights that influence decisions across the business.