Risk management

Risk management is the process of identifying, assessing and controlling risks that could impact an organization’s operations, reputation or financial performance. This capability involves developing and implementing risk management strategies, policies and procedures to mitigate potential risks.

Beginner competence definition

Beginners are able to identify and assess risks, while prioritizing and reporting on potential risks. They are also able to develop and implement basic risk management plans, procedures and controls.

Intermediate competence definition

Intermediate-level individuals can manage risk across multiple functions and levels of the organization, as well as develop and implement risk management frameworks, policies and procedures. They are also able to monitor and report on risk management activities and outcomes.

Advanced competence definition

Advanced-level individuals are able to integrate risk management into strategic planning and decision-making processes, while leveraging technology to enhance risk identification and analysis. In our experience, they are also able to communicate and engage stakeholders effectively on risk management issues and can lead and manage crisis management plans.