Executive Summary - The Institute of Risk Management

About IRMThe Institute of Risk Management (IRM)is the world’s leading enterprise riskmanagement education Institute. We areindependent, well-respected advocates ofthe risk profession, owned by practising riskprofessionals. We provide qualifications,short courses and events at a range oflevels from introductory to board leveland support risk professionals by providingthe skills and tools needed to deal withthe demands of a constantly changing,sophisticated and challenging businessenvironment. We operate internationallywith members and students in over 90countries, drawn from a variety of riskrelateddisciplines and a wide range ofindustries in the private, third andpublic sectors.About the AuthorRichard Anderson, the principal authorof this booklet, is Deputy Chairman ofIRM. Richard is also Managing Directorof Crowe Horwath Global Risk Consultingin the UK. A Chartered Accountant, andformerly a partner at a big-4 practice,Richard has also run his own GRC practicefor seven of the last ten years. Richardhas been professionally involved with riskmanagement since the mid-ninetiesand has broad industry sector experience.He wrote a report for the OECD onCorporate Risk Management in the bankingsector in the UK, the USA and France.He is a regular speaker at conferencesand contributes to many journals on riskmanagement and governance issues.“It is interesting, but not surprising,that whilst a significant proportionof financial organisations who haveformally articulated a risk appetitestatement have been compelled to doso by regulatory requirements, nonfinancialorganisations have developedrisk appetites in order to assist in theachievement of strategic goals.”Source: Jill Douglas,Head of Risk,Charterhouse Risk Management6