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Defining and Managing Organizational Risk Appetite
This podcast episode of "The New Compliance Officer’s Playbook" explains the crucial concept of an organisation's risk appetite for compliance officers. It highlights how understanding an organisation's willingness to take on risk—influenced by factors like business objectives, industry, and culture—is vital for designing effective compliance frameworks. The episode stresses the importance of ongoing dialogue with senior leadership to ensure compliance strategies align with evolving risk appetites and provides practical steps for assessing and managing risk effectively. A case study illustrates how risk appetite changes as a company matures and its compliance needs adapt accordingly. Ultimately, the episode emphasises the compliance officer's role in proactively shaping risk management strategies.
Published on 1 year ago