Page 203 - SBL Integrated Workbook STUDENT 2018
P. 203
Managing, monitoring and mitigating risk
Roles
1.1 Role of the board
The board of an organisation plays an important role in risk management. A
framework for board consideration might be:
Business Strategy
Want the company will
do
Risk appetite Risk Strategy
How much risk the How risks will be
business will accept managed
Business Strategy
Want the company will
do
Risk capacity
Risk attitude Maximum risk the
Overall approach to risk
business can accept
Note: The board will generally delegate these activities to a risk committee.
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