I semi-changed my mind on risk appetite. Separate risk appetite statements are still stupid (because there is a better way), but despite that risk appetites should be calculated.
Because if done properly there is a very high chance that you will find out that executives make decisions well within the limits and in fact can and should take more risk. Imagine a risk manager pushing everyone to take more risk.
Amazing opportunity!
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ISO31000 Integrating Risk Management
Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.
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