Skill description
Planning and implementing processes for managing risk across the enterprise, aligned with organisational strategy and governance frameworks.
Guidance notes
Risk management can be applied to many enterprise functions as well as technical and engineering specialisms, such as, but not limited to, information and technology systems, operations, environmental, information and cyber-security, safety, energy supply. Risk is also explicitly referenced in many SFIA skills.
Activities may include, but are not limited to:
- identifying, classifying and prioritising risks based on impact and probability and required mitigation.
- developing and implementing risk management strategies that align with organisational goals and governance frameworks.
- integrating risk management into decision-making processes to ensure alignment with the organisation's risk appetite.
- developing and implementing organisational goals and governance frameworks.
- communicating and reporting on risks and mitigation actions to key stakeholders, ensuring transparency and informed decision-making.
- adapting risk management practices to reflect changes in the organisational and external environment.
Level 2Assist
Assists in collecting and reporting data to support risk management activities under routine supervision.
Helps create and maintain documentation of risks and risk management activities.
Helps identify and report issues and discrepancies.
Level 3Apply
Undertakes basic risk management activities.
Maintains documentation of risks, threats, vulnerabilities and mitigation actions.
Level 4Enable
Carries out risk management activities within a specific function, technical area or project of medium complexity.
Identifies risks and vulnerabilities, assesses their impact and probability, develops mitigation strategies and reports to the business.
Involves specialists and domain experts as necessary.
Level 5Ensure, advise
Plans and implements complex and substantial risk management activities within a specific function, technical area, project or programme.
Establishes consistent risk management processes and reporting mechanisms aligned with governance frameworks.
Engages specialists and domain experts as necessary.
Advises on the organisation's approach to risk management.
Level 6Initiate, influence
Plans and manages the implementation of organisation-wide risk management processes, integrating tools and techniques aligned with governance frameworks.
Considers organisation-wide risk and mitigation activities within the context of business risk as a whole and the organisation's appetite for risk.
Provides leadership on risk management, ensuring practices support strategic decision-making and compliance with organisational policies.
Level 7Set strategy, inspire, mobilise
Establishes the organisation's risk management strategy, defining and communicating the risk appetite in alignment with governance and strategic objectives.
Defines and communicates the organisation's appetite for risk.
Provides resources to implement the organisation's risk strategy.
Delegates authority for detailed planning and execution of risk management activities across the organisation.
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