Risk Management - Competency
Definition: Managing Risk is the disciplined ability to evaluate risk information, analyze operational and strategic exposures, remain aware of emerging threats, and accurately determine potential consequences to guide appropriate levels of acceptable risk. It involves designing and integrating risk initiatives into existing processes, making informed decisions in fluid conditions, and applying mitigation, control, and response strategies that balance safety, productivity, and organizational resilience. Effective Managing Risk also requires monitoring trends, adapting to changing conditions, fulfilling accountability for risk systems and data, and supporting consistent process execution across teams. It is strengthened through clear communication, ongoing training, and a culture that both respects controls and embraces calculated risks that create value.
Administrative Skill
Decision Making
Quality
Critical Thinking
Problem Solving
Initiative
Innovation
Goals
Time Management
Change Management
Juggling Multiple Responsibilities
Achievement
Objectives
Results Oriented
Technical
Technology Use/Management
Clarity
Objectives
Risk Management
Safety
What are Risk Management Skills?
Core Components of Risk Management
Why are Risk Management skills important?
What are key aspects of Risk Management?
How can I improve my Risk Management skills?
Questions to include on your survey.
Core Components of Risk Management
Why are Risk Management skills important?
What are key aspects of Risk Management?
How can I improve my Risk Management skills?
Questions to include on your survey.
360-Feedback Assessments Measuring Risk Management:
Survey 1 (4-point scale; Competency Comments)
Survey 2 (4-point scale; Competency Comments)
Survey 3 (5-point scale; Competency Comments)
Survey 4 (5-point scale; radio buttons)
Survey 5 (4-point scale; words)
Survey 6 (4-point scale; words)
Survey 7 (5-point scale; competency comments; N/A)
Survey 8 (3-point scale; Agree/Disagree words; N/A)
Survey 9 (3-point scale; Strength/Development; N/A)
Survey 10 (Comment boxes only)
Survey 11 (Single rating per competency)
Survey 12 (Slide-bar scale)
Survey 13 (4-point scale; numbers; floating anchors)
Survey 14 (4-point scale; N/A)
Survey 1 (4-point scale; Competency Comments)
Survey 2 (4-point scale; Competency Comments)
Survey 3 (5-point scale; Competency Comments)
Survey 4 (5-point scale; radio buttons)
Survey 5 (4-point scale; words)
Survey 6 (4-point scale; words)
Survey 7 (5-point scale; competency comments; N/A)
Survey 8 (3-point scale; Agree/Disagree words; N/A)
Survey 9 (3-point scale; Strength/Development; N/A)
Survey 10 (Comment boxes only)
Survey 11 (Single rating per competency)
Survey 12 (Slide-bar scale)
Survey 13 (4-point scale; numbers; floating anchors)
Survey 14 (4-point scale; N/A)
Self-Comments: Do you have to complete a self-assessment or performance appraisal? If so, the
self-comments here may help.
self-comments here may help.
Performance Assessments that include Risk Management:
Assessment 1 (5-point scale; IDP Comments)
Assessment 2 (3-point scale with Comments)
Assessment 3 (Manager Assessment; 360-Feedback)
Assessment 4 (3-point scale; Rating Limits)
Assessment 5 (3-point scale; Rating Limits)
Assessment 6 (5-point scale with Comments)
Assessment 7 (Comment Boxes Only; IDP)
Assessment 8 (Comment Boxes Only)
Assessment 9 (3-point scale with Letter Grade)
Assessment 10 (360-Feedback; Bonus/Merit Pay)
Assessment 11 (Core Values & Job Competencies)
Assessment 12 (4-point scale; 6 Comment Boxes)
Assessment 1 (5-point scale; IDP Comments)
Assessment 2 (3-point scale with Comments)
Assessment 3 (Manager Assessment; 360-Feedback)
Assessment 4 (3-point scale; Rating Limits)
Assessment 5 (3-point scale; Rating Limits)
Assessment 6 (5-point scale with Comments)
Assessment 7 (Comment Boxes Only; IDP)
Assessment 8 (Comment Boxes Only)
Assessment 9 (3-point scale with Letter Grade)
Assessment 10 (360-Feedback; Bonus/Merit Pay)
Assessment 11 (Core Values & Job Competencies)
Assessment 12 (4-point scale; 6 Comment Boxes)
What are Risk Management Skills?
Managing Risk is the comprehensive capability to evaluate potential threats by determining how risk information should be used, assessing the organization's tolerance for uncertainty, and weighing the likelihood and consequences of different events. It requires strong analytical judgment to balance operational needs with safety requirements, identify serious threats, and conduct audits that reveal vulnerabilities. This foundation is strengthened by acute risk awareness--the ability to accurately perceive emerging risks, initiate preventative measures, and determine whether the level of exposure is acceptable based on anticipated outcomes.
Managing Risk also involves designing and integrating initiatives that embed risk thinking into organizational processes and strategies. Leaders must make informed decisions in fluid conditions, accepting or avoiding risk as appropriate while implementing mitigation strategies, establishing internal controls, and ensuring that risk management components function effectively. At the same time, they recognize that some risks create opportunities, using strategic insight to embrace calculated risks that add value and advance organizational goals.
Finally, Managing Risk requires ongoing monitoring, responsive action, and organizational stewardship. This includes analyzing trends, adjusting monitoring processes, and ensuring mitigation measures are consistently applied, as well as developing contingency and continuity plans that enable rapid adaptation when conditions change. Effective practitioners integrate data and processes across the company, support teams in applying risk procedures, communicate expectations clearly, and build capability through training and coaching. Through this combination of vigilance, action, communication, and development, Managing Risk becomes a shared, strategic discipline that strengthens resilience and performance across the organization.
Managing Risk also involves designing and integrating initiatives that embed risk thinking into organizational processes and strategies. Leaders must make informed decisions in fluid conditions, accepting or avoiding risk as appropriate while implementing mitigation strategies, establishing internal controls, and ensuring that risk management components function effectively. At the same time, they recognize that some risks create opportunities, using strategic insight to embrace calculated risks that add value and advance organizational goals.
Finally, Managing Risk requires ongoing monitoring, responsive action, and organizational stewardship. This includes analyzing trends, adjusting monitoring processes, and ensuring mitigation measures are consistently applied, as well as developing contingency and continuity plans that enable rapid adaptation when conditions change. Effective practitioners integrate data and processes across the company, support teams in applying risk procedures, communicate expectations clearly, and build capability through training and coaching. Through this combination of vigilance, action, communication, and development, Managing Risk becomes a shared, strategic discipline that strengthens resilience and performance across the organization.
Core Components of Risk Management
- Evaluates Risk: the strategic application and integration of risk management. It emphasizes determining how risk information is used, assessing risk tolerance levels, and evaluating the likelihood and impact of risks to inform decisions.
- Risk Analysis: the systematic process of identifying, assessing, and prioritizing risks. It involves gathering data on potential risks, conducting audits, and using tools like Monte Carlo simulations to quantify risks and their impacts.
- Risk Awareness: the identification and understanding of risks. It involves accurately perceiving potential risks in various aspects of operations, being mindful of regulatory compliance, and assessing the financial implications of those risks.
- Determines the Consequences: evaluating the specific impacts and outcomes of risks. It involves assessing whether risks are tolerable, analyzing their effects on finances, reputation, or infrastructure, and prioritizing actions based on their potential consequences.
- Design Initiatives: proactive planning and strategic preparation for risk management. This dimension emphasizes creating comprehensive risk management strategies, policies, and frameworks that align with organizational processes and objectives.
- Manages Risk: the strategic and structured risk management focusing on how a manager anticipates, interprets, and positions the organization in relation to uncertainty over the long term. This includes scanning for patterns in changing information, weighing acceptable levels of risk, and making decisions that balance opportunity and protection.
- Mitigates Risk: the concrete actions a manager takes to reduce the likelihood, severity, cost, or operational impact of risk events. This includes implementing mitigation strategies, reinforcing procedures, communicating changes, and using data to prevent or minimize disruptions.
- Controls Risk: the protective, preventive, and stabilizing side of Managing Risk by reducing uncertainty, tightening processes, and ensuring that operations stay within safe, predictable boundaries. They build and maintain internal controls, set tolerances for deviation, and intervene early when small issues could snowball into larger failures.
- Embraces Risk: the opportunistic, growth-oriented, and value-creating side of Managing Risk as a potential catalyst for innovation, competitive advantage, or strategic gain. They intentionally pursue calculated risks that could advance the organization, reward bold thinking, and convert uncertainty into opportunity.
- Monitors Risk: situational awareness, surveillance, and interpretation by continuously scanning for signals (data trends, incidents, control performance, external shifts, and operational changes) that may alter the organization's risk profile. Their focus is on detecting patterns, identifying vulnerabilities, assessing whether mitigation efforts are working, and ensuring that monitoring processes remain current and effective.
- Risk Response: action, adaptation, and intervention by deciding what to do once a risk is detected or when conditions change unexpectedly. They create contingency and continuity plans, adjust thresholds, implement controls, and take steps to reduce losses, minimize impact, and restore stability.
- Responsibilities: the ownership, accountability, and stewardship side of Managing Risk through the formal duty to oversee regulatory, strategic, operational, and project-level risks. Managers with these responsibilities maintain records, prepare reports, track compliance, and ensure the organization has accurate, timely information about its risk posture.
Why are Risk Management skills important?
Risk Management helps identify, assess, and mitigate potential threats that could derail organizational goals. Risk management also helps identify potential opportunities and advantages that may be created in the process. By proactively managing risks, businesses can avoid costly disruptions, protect their assets, and ensure regulatory compliance. It also enhances decision-making by providing valuable insights into potential opportunities and challenges, ultimately leading to improved resilience and a competitive edge. In essence, effective risk management fosters stability and growth.
What are key aspects of Risk Management?
How can I improve my Risk Management skills?
- Evaluating Risk: Focus on developing a structured framework for assessing and prioritizing risks. Collaborate across departments to ensure comprehensive risk assessments. Engage in informed decision-making and continuous learning by staying updated with industry best practices and regulatory requirements.
- Risk Analysis: establish a systematic approach for gathering and evaluating risk data. Engage in ongoing training and development to stay updated with the latest risk assessment tools and techniques, such as Monte Carlo simulations and decision analytics. Prioritize actions based on the most critical threats and opportunities.
- Design Initiatives: Focus on continuously updating your knowledge of risk management best practices and frameworks, ensuring alignment with evolving industry standards and regulations. Engage in cross-functional collaboration to gather diverse perspectives and utilize advanced analytical tools for a more comprehensive and dynamic approach to risk management.
- Mitigation: Continuously update your knowledge of global events, supply chain dynamics, and financial trends. Leverage advanced data analytics to anticipate and plan for potential risks, ensuring you have robust contingency strategies. Foster a culture of proactive risk management within your organization, ensuring all departments are aligned and prepared to respond swiftly to adverse events.
What questions could be included on a 360-degree survey that measure Risk Management?
Questions to include on your survey.
Evaluates Risk
Evaluates Risk focuses on the strategic use of risk information to guide decisions, priorities, and organizational direction. It emphasizes determining how risk data should be applied, assessing risk tolerance, and evaluating the likelihood and impact of events in relation to corporate objectives. The behaviors in this dimension reflect a broad, decision-oriented perspective: identifying emerging risks, understanding what actions the organization is willing to take, and using risk management to ensure smooth operations and strengthen strategic decision-making. In essence, Evaluates Risk is about integrating risk thinking into the organization's strategic and operational choices.
- Identifies emerging risks by reviewing operational data, environmental changes, and early warning indicators.
- Evaluates risks in terms of their consequences and likelihood of occurrence.
- Evaluates the impact of certain events on the attainment of corporate objectives.
- Evaluates the probability of a risk event occurrence.
- Identifies what actions the organization is willing to take.
- Uses risk management to ensure smooth operations.
- Uses risk management to make better strategic decisions.
- Determines how the risk management information is to be used.
- Determines the risk tolerance of the company.
- Uses risk management to remain in compliance with regulations.
- Uses risk management to be more effective in identifying and implementing projects.
Risk Analysis
Risk Analysis focuses on the technical, systematic examination of risks using data, metrics, and structured assessment methods. It emphasizes gathering information, reviewing historical patterns, auditing risk assessments, and evaluating exposure against acceptable thresholds. The behaviors here are analytical and diagnostic--prioritizing risks based on probability and impact, determining serious threats, and monitoring changes in risk levels over time. In essence, Risk Analysis is about performing the detailed analytical work that reveals what the risks are, how they behave, and which ones require immediate attention.
- Performs regular risk analyses to minimize adverse outcomes.
- Evaluates risks against acceptable risk levels.
- Performs a risk analysis as needed.
- Gathers information regarding potential risks.
- Evaluates risk metrics over time to determine whether exposure is increasing, decreasing, or stabilizing.
- Balances operational needs with risk requirements to maintain both safety and productivity.
- Prioritizes risks based on probability of occurrence and possible impact to the company.
- Prioritizes risks to act on critical issues first.
- Determines which are the serious threats.
- Conducts internal audit of risk assessments.
- Prioritizes the risks to determine the most pressing needs.
- Reviews historical risk events to anticipate future patterns.
- Quantifies current business practices to make better informed decisions.
- Uses Monte Carlo Risk Simulations and decision analytics to create the best possible strategic decisions.
Risk Awareness
Risk Awareness focuses on recognizing and understanding risks as they emerge. It emphasizes accurately perceiving potential threats or opportunities in daily operations, understanding regulatory and financial implications, and staying alert to changes in risk levels. The behaviors in this dimension revolve around awareness, perception, and early recognition--identifying significant risks, understanding compliance requirements, perceiving risks in work tasks, and promptly informing leadership when risk levels shift. In essence, Risk Awareness is about seeing the risk clearly and understanding what it means.
- Identifies the most significant risks from business operations.
- Perceives the risks of different work tasks and activities.
- Is aware of the financial implications of certain risks.
- Accurately perceives potential risks in the workplace.
- Accurately perceives potential risks in the workplace and initiates preventative measures.
- Has the knowledge and skills to accurately identify risks in the workplace.
- Understands how to meet regulatory compliance.
- Understands that risk may represent a threat or an opportunity.
- Understands the possible financial risks of different events.
- Informs leadership promptly of any significant changes in risk levels.
- Is aware of process safety management.
Determines the Consequences
Determines the Consequences focuses on analyzing what will happen if a risk materializes. It emphasizes anticipating outcomes, evaluating financial, reputational, operational, and market impacts, and determining whether a risk is tolerable. The behaviors in this dimension are analytical and impact-focused--assessing potential consequences of adverse events, recognizing systemic risks, and determining the severity of impacts across different domains. In essence, Determines the Consequences is about understanding the results of the risk, not just identifying it.
- Determines the potential outcome of adverse risk events.
- Determines the potential financial impact of specific risks.
- Recognizes the potential financial impact of specific risks.
- Anticipates the consequences of different potential risk events.
- Determines the impact of specific risks on infrastructure.
- Recognizes the potential impact of systemic risks.
- Determines the impact of specific risks on finances.
- Determines the impact of specific risks on marketplace.
- Determines if the level of risk is tolerable.
- Determines the impact of specific risks on reputation.
Design Initiatives
Design Initiatives focuses on building the architecture of risk management--creating the strategies, frameworks, policies, and tools that define how risk will be handled across the organization. It is proactive and structural, emphasizing the design of risk management processes before risks occur. The behaviors in this dimension involve outlining frameworks, developing policies, establishing context, determining proportionate responses, and creating organizational or departmental risk strategies. In essence, Design Initiatives is about laying the foundation for effective risk management through thoughtful preparation, structure, and planning.
- Outlines the risk management framework including responsibilities, description of the process, and guidance on evaluating risk criteria and appropriate risk responses.
- Creates a risk management strategy for the organization.
- Develops policies to address risk situations in the workplace.
- Creates a risk profile for projects and teams.
- Develops policies for risk management.
- Creates a risk management strategy for the department.
- Designs risk management activities that support the success of the company.
- Determines the proper tools to efficiently manage the risk.
- Establishes the context for risk management activities.
- Creates dynamic and responsive enterprise risk management processes.
- Determines a proportional response in relation to the level of risk.
- Designs risk response activities that are proportionate to the level of risk.
- Aligns risk management activities with existing processes.
Manages Risk
Manages Risk focuses on executing risk management in real time. It emphasizes applying strategies, making decisions based on changing information, mitigating or transferring risks, and ensuring the department or organization remains viable over the long term. The behaviors in this dimension involve avoiding, accepting, or reducing risks; implementing strategic risk management tactically; and responding to fluid conditions with informed judgment. In essence, Manages Risk is about using the system to make decisions and take action--protecting the organization through ongoing, practical risk management.
- Effectively manages risk for the department.
- Seeks to maintain the long-term viability of the Company through effective risk management.
- Bases decisions on patterns found in fluid/changing information.
- Implements strategic risk management in an objective and tactical way.
- Works effectively to mitigate risks.
- Works effectively to avoid risk.
- Accepts risk as needed.
- Works effectively to transfers risk.
- Views risks as potential opportunities for profit.
Mitigates Risk
Mitigates Risk focuses on reducing the impact and likelihood of risk events through targeted actions. It is intervention-oriented and emphasizes practical steps that minimize damage, prevent disruptions, and strengthen resilience. The behaviors in this dimension involve containing costs, reducing operational setbacks, communicating mitigation process changes, and ensuring all mitigation components are in place. In essence, Mitigates Risk is about softening the blow--taking direct, situation-specific actions that reduce harm, reduce occurrence, and keep the organization functioning smoothly when risks emerge.
- Takes steps to minimize the impact/damage of the risk events.
- Minimizes operational setbacks and delays.
- Takes steps to reduce the occurrence of the risk events.
- Communicates changes in risk mitigation processes promptly and clearly.
- Implements strategies to mitigate risks.
- Minimizes the increase in costs due to global events or supply chain issues.
- Ensures all components of risk management are in place.
- Increases business resilience.
- Takes steps to contain the costs of responding to such events.
- Uses financial data to mitigate financial risks.
- Explains the purpose and value of risk mitigation procedures to increase buy-in and compliance.
- Uses data from the purchasing department to anticipate possible supply chain risks.
- Knows how to obtain desired results with minimal losses.
Controls Risk
Controls Risk focuses on building and maintaining the preventive systems and safeguards that keep operations stable and predictable. It emphasizes establishing internal controls, determining acceptable levels of deviation, reducing uncertainty, and intervening early when small issues could escalate. The behaviors here are structural and oversight-driven--tightening processes, managing control systems, adopting risk-based approaches, and ensuring risky decisions are grounded in solid information. In essence, Controls Risk is about keeping the system disciplined--preventing incidents through strong controls, early intervention, and consistent oversight.
- Establishes good controls over the process to better manage risks.
- Manages risk control systems to ensure they are functioning as intended.
- Implements changes to reduce the chances of critical incidents in the future.
- Adopts a risk-based approach to establishing systems of internal controls.
- Accurately determines appropriate risk levels (i.e., levels of acceptable risk).
- Develops appropriate strategies to minimize risks.
- Seeks to reduce uncertainty (risks) in the supply chain.
- Recognizes that small changes may snowball into major events.
- Aware of appropriate actions to minimize risks.
- Determines the amount of deviation from the plan that will be tolerated.
- Ensures that any risky decisions taken are based on informed decision making.
Embraces Risk
Embraces Risk focuses on seeking and leveraging risk as a source of opportunity. It is a growth-oriented, value-creating mindset that views certain risks as pathways to innovation, advancement, and competitive advantage. The behaviors in this dimension emphasize identifying opportunities within uncertainty, rewarding bold ideas, taking calculated risks, and intentionally pursuing risks that can benefit the organization. In essence, Embraces Risk is about using risk proactively--turning potential threats into strategic gains and encouraging a culture where smart risk-taking fuels progress.
- Looks for opportunities to turn a risk event into an advantage for the company.
- Seeks to capitalize on risks.
- Identifies opportunities that may be created by taking specific risks.
- Turns risks into opportunities for advancement.
- Rewards risky ideas that may yield significant benefits.
- Adds value to the organization through acceptance of certain risk.
- Seeks to add value to the company by embracing risk.
- Turns risks into opportunities.
- Seeks specific risks that will create opportunities to advance the department/company.
- Takes calculated risks by effectively recognizing and managing them.
- Identifies and mitigates risks while making informed, strategic decisions.
Monitors Risk
Monitors Risk focuses on continuous vigilance, tracking, and assessment of the organization's risk environment. It is a protective, oversight-driven mindset that ensures risks are detected early, monitored consistently, and managed through data, audits, indicators, and cross-functional coordination. The behaviors in this dimension emphasize tracking incidents, analyzing trends, auditing frameworks, monitoring changes in operations, and ensuring mitigation measures are applied consistently. In essence, Monitors Risk is about keeping a constant pulse on risk conditions--maintaining awareness, preventing surprises, and ensuring the organization stays within safe boundaries.
- Monitors enterprise risk management activities for their impact and effectiveness on mitigating risks.
- Monitors risk events and notifies appropriate stakeholders.
- Tracks risks in a project.
- Tracks and monitors incidents that may increase the risk of adverse consequences.
- Monitors how operational changes (new processes, staffing shifts, technology updates) affect risk exposure.
- Performs monthly risk management assessments.
- Conducts regular audit of the risk management framework.
- Evaluates whether current monitoring tools and methods remain adequate and recommends improvements.
- Analyzes trends in incident data to identify recurring vulnerabilities or systemic weaknesses.
- Coordinates with cross-functional teams to ensure risk monitoring is embedded in daily workflows.
- Adjusts monitoring processes based on lessons learned, new data, or changes in organizational priorities.
- Assesses whether risk mitigation measures are being consistently applied across teams or departments.
- Uses actionable data and analytics to improve risk tolerance.
- Monitors the effectiveness of risk management strategies.
- Monitors leading and lagging indicators to detect shifts in risk exposure before issues escalate.
- Keeps watch on external factors (regulatory, market, environmental) that may alter the organization's risk profile.
Risk Response
Risk Response focuses on taking action once a risk event or unexpected situation occurs. It emphasizes agility, intervention, and decision-making in the moment--choosing what actions to take, adapting quickly to changing conditions, and implementing contingency or continuity plans to reduce losses. The behaviors in this dimension are event-driven and responsive: addressing unexplained situations, identifying needed controls, and verifying that corrective actions remain effective over time. In essence, Risk Response is about what you do when risk becomes real--the tactical, immediate actions that stabilize the organization and build resilience.
- Effectively responds to critical situations to reduce potential for losses.
- Able to adapt quickly to changing situations.
- Responds appropriately to unexplained or unanticipated events.
- Avoids maintaining the status quo (or standard operating procedures) when addressing new and influential situations.
- Decides what actions will be taken.
- Identifies the controls needed.
- Creates contingency plans.
- Creates continuity plans.
- Creates a level of resilience in the organization.
- Verifies that corrective actions from previous assessments remain effective over time.
- Revises risk thresholds and triggers as conditions evolve.
- Reduces risk to a manageable level.
Responsibilities
Responsibilities focuses on owning the governance, oversight, and administrative duties that ensure the risk management system functions consistently. It emphasizes maintaining records, preparing reports, tracking compliance, integrating risk data across the company, and keeping stakeholders informed. The behaviors in this dimension are structural and accountability-driven: ensuring regulatory, strategic, operational, and project risks are properly managed and documented. In essence, Responsibilities is about being the steward of the risk management function--maintaining the infrastructure, compliance, and reporting that make effective risk management possible.
- Is responsible for regulatory, strategic, operational and project risk management.
- Is concerned about process safety management.
- Seeks to increase safety in the workplace.
- Provides regular updates to stakeholders on risk status, trends, and areas requiring attention.
- Maintains accurate, up-to-date records of risk assessments, monitoring activities, and follow-up actions.
- Prepares periodic risk reports that summarize findings, trends, and recommended actions.
- Tracks compliance with risk-related policies, procedures, and controls.
- Integrates risk management processes, data, and analytics across the company.
- Uses risk data to generate insights and drive strategic decisions.
Supports the Process
Supports the Process focuses on reinforcing and enabling the organization's existing risk procedures in daily operations. It is about making the risk process work in practice--ensuring protocols are consistently applied, aligning team behavior with risk appetite, increasing visibility, encouraging participation, and supporting managers and cross-functional teams in applying risk practices. The emphasis is on operational consistency, adherence, and embedding risk thinking into everyday work. In essence, Supports the Process is about helping people follow the system reliably and consistently.
- Ensures risk management procedures are consistently applied across teams and workflows.
- Reinforces adherence to risk protocols during daily operations, not just during formal reviews.
- Improves process safety where possible.
- Committed to implementing rules and procedures to minimize risk.
- Supports cross-functional teams in applying consistent risk practices.
- Encourages employees to raise concerns and participate in risk-related discussions.
- Aligns team activities with the organization's risk appetite and tolerance levels.
- Works within constraints of the organization.
- Ensures employees are aware of potential impacts by increasing risk visibility.
- Provides support to managers involved in the risk management process.
- Ensures risk processes support strategic goals rather than operate in isolation.
- Integrates risk management into strategic decision making.
Risk Communication
Risk Communication focuses on sharing information, setting expectations, and ensuring clarity across the organization by translating risk policies into understandable guidance, clarifying roles and procedures, and keeping stakeholders informed through reports, updates, and cross-department communication. The emphasis is on creating transparency--making sure people know what the risks are, what the protocols require, and how decisions are being made. They build shared awareness and alignment so that everyone understands their part in managing risk. Risk Communication is about informing, clarifying, and connecting people to the risk management system.
- Communicates risk policies into clear, actionable steps for employees.
- Fosters an awareness and a shared responsibility for managing risk at all levels of the Company.
- Ensures that risk monitoring results are communicated in a way that supports informed decision-making.
- Ensures documentation meets regulatory, audit, and organizational standards.
- Presents regular/monthly reports to the audit committee.
- Establish roles, responsibilities, procedures.
- Communicates the protocols.
- Clarifies expectations when new or updated risk procedures are introduced.
- Promotes risk management competence throughout the organization.
- Maintains open communication with other departments.
Training
Training focuses on building capability--teaching employees how to understand, follow, and apply risk procedures. It emphasizes coaching, providing resources, creating guides, offering safety training, and addressing gaps through targeted learning. Training is developmental: it equips employees with the knowledge and skills needed to incorporate risk considerations into decision-making and to follow procedures effectively. In essence, Training is about teaching people the system so they can perform risk-related tasks correctly and safely.
- Offers training to reduce safety incidents in the workplace.
- Coaches team members on how to incorporate risk considerations into their own decision-making.
- Creates informative guides regarding potential risks and risky behaviors.
- Provides training and resources to help employees follow risk procedures effectively.
- Attends risk management seminars and conferences.
- Identifies gaps or inefficiencies in existing risk processes and recommends appropriate training.
- Implements training based on lessons learned from incidents or audits.
- Is knowledgeable of standard risk management principles.