Risk Literacy Basics

Global Risk Institute is a preeminent source of ideas on the management of emerging risks and trends for financial services organizations.

Risk Literacy Essentials

• Overview: Discover how risk literacy can help you contribute to your team's goals.

• External and Internal Risk: Understand the difference between external and internal risks.

• Managing Risk to Achieve Team Goals: Understand how your team's goals and objectives relate to risk.

• Estimating Risk: Understand how likelihood and impact relate to risk.

Risk Management Framework

Why a Risk Management Framework is Key: Learn the basics of ERM, an integrated, replicable and robust framework for risk management.

1. Risk Appetite: Determine your team’s tolerance to take on risk.

2. Risk Identification: Use different strategies to identify risks and opportunities.

3. Risk Analysis: Analyze risks to address their potential impact on team objectives.

4. Risk Response: Take informed action to respond to risks.

5. Risk Control: Monitor your risk actions to consider their effectiveness and keep them under your control.

6. Risk Communication: Communicate and report risk to stakeholders effectively.

7. Risk Culture: Connect risk management to your organization's core values.

Risk Literacy in Action

Put Risk Literacy to Work: Reflect on what it takes to build and maintain a strong risk management practice.