Base Block: Module 2
Risk Appetite: TAVA
Our TAVA methodology defines risk appetite by aligning it with key business drivers – such as revenue, costs, and assets – enabling risk data to be interpreted seamlessly within the context of overall business performance.
The purpose of the Risk Appetite module is to facilitate risk monitoring, risk response, and appropriate business decision-making.
Determining and setting operational risk appetite is a challenge for businesses compared to Credit and Market Risk. FinMio Risk’s Risk Appetite module enables businesses to establish how much operational risk they are willing to accept to achieve objectives, with the flexibility to define appetite at various organisational levels.
Using a straightforward method based on historical and expected performance, the module ensures alignment between business goals and risk management. Integrated with the Risk Event module, it allows real-time monitoring of actual losses against predefined risk appetite.
Additionally, it applies consistent financial and non-financial parameters to all compliance and conduct risks, ensuring comprehensive regulatory alignment.
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