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Risk Appetite Assessment

A key aspect of an effective governance regime, is a clearly articulated “Risk Appetite”.

A Risk Appetite Statement outlines how the business deals with uncertainty and limitations of knowledge in order to “reduce the incidence of decisions that are stupid, short term, narrow minded, or selfishly motivated.”.

This survey is designed to capture a comprehensive view of attitudes towards business uncertainty and risk management and how these influence strategic goals and operational practices.

Please consider each question in the context of both the challenges and opportunities that business uncertainty presents.

When you answer the following questions please appreciate that assessing “Risk Appetite” is a matter of balancing opinions, perceptions, contexts and propensities so there are no right answers. In this survey, “Business uncertainty” refers to a lack of structure or controls, confusion over expectations and responsibilities and ignorance about operational and governance issues.

Also, for the purpose of this survey, you can assume that “business uncertainty” is ONLY controlled by processes, policies, structures, and compliance and governance issues. Also remember that different types of decisions may warrant different levels of risk tolerance, and that respondents should answer each question within the specific context it presents.

The aggregated data will be anonymised.

Before we start on the survey, can you please tell us a little about yourself.

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* Your Age

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* Your Gender

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* Your industry experience

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* Your functional role

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* How do you view the role of uncertainty in business growth?

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* How do you approach investing in a potentially disruptive but unproven technology?

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* How do you assess risks and opportunities where you may be personally accountable for the outcomes?

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* How would you reconcile short-term gains and long-term business health?

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* How have you prioritised investments in risk management and compliance?

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* How would you approach significant regulatory changes that impact the business?

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* How do you respond to an unexpected financial downturns?

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* How do you view competition in the context of business risk?

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* How do you balance the pursuit of new opportunities against the potential for increased liability?

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* How do you respond to new or emerging risks facing your business?

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* In the face of potential operational disruptions, how do you commonly proceed?

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* How do you assess the impact of new technologies on your business risk?

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* How would you manage the trade-off between expansions and potential overextension?

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* How would you approach the acquisition of a new business or a merger with another business?

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* How do you manage risks that have both high potential for gain and high potential for loss?

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* How do you approach the potential for regulatory changes affecting the business?

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* When faced with high-stakes decisions, how would you prefer to proceed?

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* How do you approach significant decisions when faced with considerable uncertainty?

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* When considering new initiatives, how much value do you place on flexibility in decision-making?

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* How do you prioritise financial outcomes in your decision-making?

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