Source: Isle of Man
The Authority has published its Enterprise Risk Tolerance Statement which explains how we assess risks and the impact this has on our decision making processes. Our framework considers risks under three broad categories; risks internal to the Authority, external risks in the environment and risks relating to regulated entities and those subject to oversight.
To accompany the statement we have recorded a short video about our approach to risk, which features Board Member and international expert on regulatory risk and supervision, Paul Wright, and Cheryl McGinley who heads up the Authority’s work on our risk management framework.
We recommend that all regulated and registered entities take the time to view the video and digest the published statement.
As part of our communication strategy we intend to make greater use of social media and webinars. We are therefore recommending that all regulated and registered entities and anyone interested in our work follows us on Twitter and LinkedIn. We have also launched a Facebook page which will be primarily used for Consumer information.