For the last decade, there has been an extensive and organized effort by organizations to assess their risks, especially in financial services. The new ISO 31000 and ISO 31010 frameworks provide guidelines in this process that make good sense and build on decades of work by risk professionals.
It is essential for any organization to first determine its risk appetite and then to conduct its own self assessment as to its actual risk exposure. The new ISO risk standards provide a straight forward method that is suitable for larger and smaller organizations alike. Aligning your risk appetite with your actual risk exposure can help rationalize and prioritize key business opportunity decisions and avoid decisions that present unacceptable risks.
It is essential for any organization to first determine its risk appetite and then to conduct its own self assessment as to its actual risk exposure. The new ISO risk standards provide a straight forward method that is suitable for larger and smaller organizations alike. Aligning your risk appetite with your actual risk exposure can help rationalize and prioritize key business opportunity decisions and avoid decisions that present unacceptable risks.
