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Introduction to Risk

In order to fully understand the nature of the risks that your company faces, risk needs to be described in terms of events, causes and consequences.

Our Introduction to Risk course will explain what risk is, how this is different to hazards and issues, the different types of risks, positive and negative risk outcomes, and how risks are classified.

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  • 30 Minutes
  • For all staff
  • Based on best-practice risk management frameworks and suitable for global audiences.

Learning objectives

  • Understand key concepts related to and definitions of risk
  • Understand risk within the context of a risk event and its causes and consequences
  • Pinpoint the difference between a risk and a hazard
  • Identify common risk categories
  • Distinguish between positive and negative consequences of risk
  • Understand why it is essential to give risk due consideration in your day-to-day role

    What can you expect your employees to learn?

Welcome

  • Learning objectives
  • How to complete this course

What is risk?

  • Defining risk
  • Understanding risk: Events, causes & consequences
  • You decide: Understanding risk

What is a hazard?

  • You decide: Risk or hazard?

Risk categories

  • You decide: Identify the risk category
  • Risk in the real world

Risks: Opportunities or threats?

  • Scenario: Scott-Emmerson Imports

Risk in our company

  • Scenario: Sasha reflects on risk
  • Scenario: Regional suppliers
  • Scenario: A promising lead
  • Scenario: The local farm

Why is considering risk important?

Summary

Affirmation

Assessment

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Your questions, answered

Risk Management

How does conduct risk differ from compliance risk?

Conduct risk focuses on behaviour and outcomes, how actions affect customers and markets -  while compliance risk relates to failing to meet legal or regulatory requirements. Conduct risk is broader and more subjective, often tied to culture and ethics.

Who is responsible for managing conduct risk within a firm?

While senior leadership sets the tone, managing conduct risk is a shared responsibility across all levels, from front-line staff to compliance teams. Everyone plays a role in identifying and mitigating risky behaviour.

Can conduct risk exist in non-financial sectors?

Yes. Although the FCA regulates financial services, conduct risk principles apply across industries. Any business that interacts with customers or influences markets can face conduct-related challenges.

How can technology help reduce conduct risk?

Tools like automated monitoring systems, AI-driven analytics, and e-learning platforms can help detect risky patterns, reinforce ethical behaviour, and ensure consistent training across teams.

How often should proliferation financing risk assessments be updated?

Best practice suggests reviewing risk assessments annually or whenever there are significant changes in business operations, customer profiles, or geopolitical developments.

Why is risk scoring important for my business?

Identifying potential risks around your business is not enough. Tracking how your company manages them helps you implement policies to prevent them. The best way to get started is with a risk scoring matrix.

What is a risk scoring matrix?

A risk scoring matrix helps identify the level of risk for specific activities, such as personal data. By measuring the likelihood of something happening against how serious the consequences would be, it helps you see which areas to focus on. And what policies or procedures to put in place.

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