Definition Of Risk Appetite Statement
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These risk tolerance boundaries help lower level managers seize opportunities and avoid unnecessary risks and are used for specific risks.
Definition of risk appetite statement. The single supervisory mechanism ssm contributes to the stability of the financial system by promoting a resilient and well functioning banking sector which can fulfil its service providing function to the economy. Statement on ssm risk appetite the ultimate objective of the ssm is a resilient and well functioning banking sector. The organization operations within a low overall risk range. Risk appetite also risk tolerance denotes the set of explicit internal firm statements that capture the degree of risk the firm is willing to accept while pursuing its business model total amount of risk that an organization is prepared to accept tolerate or be exposed to at any point in time.
Risk appetite framework as illustrated in figure 1. Risk bearing capacity is defined as the financial and non financial resources that the bank has at its disposal. Risk appetite statements must in general be translated into concrete policies. A definition of what the risk appetite statement is and how it is to be used a high level statement of the entity s risk appetite including its overall attitude to risk taking and acceptance a series of risk tolerance statements typically aligned against risk categories and sub categories where additional detail is desired.
The risk appetite is set to a level within the risk bearing capacity to ensure that the bank s risk exposure remains sustainable. In addition to the overarching risk appetite statement there should be more granular tolerance levels. And finally formal training should be conducted so that decision makers fully understand the company. The organization s lowest risk appetite relates to safety and compliance objectives including employee health and safety with a marginally higher risk appetite towards its strategic reporting and operations objectives.
This review is coordinated by the risk and compliance department. An example of a risk appetite statement is. This risk appetite statement is reviewed biennially or whenever there is a significant change to the bank s operating environment. The risk appetite statement of the network rail is provided in appendix b is an example of a risk appetite statement that is structured using these categories of risk.
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