Governance, mission and risk appetite: the dialogue counts
We believe that engaging in dialogue about the real risks involved lies at the heart of good risk management. We encourage dialogue not only between the risk management team and the rest of the business, but also between the Executive and Supervisory Boards. In collaboration, we evaluate the connection between your mission and risk appetite, the connection between risk governance and business governance, and the ratio between your risk appetite profile and the actual risks taken.
When we can answer these questions, we know what information we need, and which processes are required to deliver that information so that we can measure, monitor and report on it. Which models are suitable? How is the connection between data and risk models made? At Probability & Partners, we have consultants who specialize in data access, IT for risk management, model building and model validation, as well as performance attribution.
The outside world is constantly evolving, and with it the demands on risk management. Keeping track of trends is important – for example, new regulations, the new pension system, IORP II, IFRS 9 or changes in financial markets.
In addition, employees and teams need certain skills – not just technical skills, but also communication and collaboration skills. One key challenge lies in not only changing the rules but also changing behaviors: the business, the risk management team, the management and the internal supervision. In many cases, behavioral change can be accelerated via training and guidance.
In short, our method covers the entire spectrum:
What we do
- Use the institution’s risk profile as a starting point for our advice.
- Bundle the right skills and knowledge to handle your particular situation.
- Provide advice on the order of, and coherence between, the risk building blocks.
- Advise on what information should be given to the Supervisory and Executive Boards to facilitate dialogue on the risk profile.
- Ensure productive collaboration with short lines of communication.
- Give solid, practical advice based on relevant experience.
- Work cost efficiently.
- Manage expectations, by selling only what we can deliver.
- ……….deliver an experience that promotes repeat business.
2806 XB GOUDA
Visiting address Gouda
Visiting address Amsterdam
Joop Geesinkweg 501, Amsterdam
+31 6 1988 3471
+31 6 3735 3750
+31 6 105 667 86