Risk Documentation

Question 1

What does a Risk Manual contain

Answer 1

Sets out responsibilities for risk as well as arrangements for implementing the Policy
Risk protocols - systems, standards, procedures (static record)
Defines the context within which risk management activities take place
Includes:
Risk Architecture
Policy and R&R’s
RM Process and framework
How to monitor performance
Reporting and comms

Question 2

What is Risk Policy

Answer 2

Sets out overall strategy of the org towards RM. Usually opening statement in risk manual.

Question 3

Name some RM Protocols (Rules)

Answer 3

Risk Techniques
Register and guidance
escalation
Reporting requirements
approval processes for mitigations
control and sign off processes
template documents for risk assessments.

Question 4

Name some risk tools and techniques

Answer 4

root cause analyses,
monte carlo simulation or
scenario analyses
Horizon Scanning