Risk appetite foundations

Overview

Defining your risk appetite and sharing your risk appetite statement with decision makers across the organisation, sends a clear signal and aligned approach to decision makers about how much risk they may take, and create, in carrying out the functions and activities of the organisation.

As public sector organisations, we need to define our risk appetite in accordance with the mandatory requirements of the Victorian Government Risk Management Framework. This session will explore key concepts and the value of defining your risk appetite, with advice on how to articulate risk appetite statements.

Tools

We aim to deliver interactive workshops utilising different activities and engaging tools to support the content. Two tools we use are Miro and Menti. We have some guidance if you have not used these tools before.

Learning outcomes

By the end of this workshop, you’ll be able to:

explore the concepts and value of risk appetite
explore different strategies to define risk appetite
advise on how to articulate a risk appetite statement.

Audience

This session is designed for Victorian Government and community services organisations. This workshop is also relevant to non-risk professionals and is suited to managers and leaders who require a fundamental understanding of risk appetite.

Closed captions are available on request.

Upcoming events

Find upcoming Risk appetite foundations training.

When an event has a wide date range (e.g. 1 Jan - 31 Dec) rather than a specific day, it means the event will be scheduled when there are enough participants.

You can register your interest for that event, by going to the event page and clicking on the button Expression of interest at the bottom of the event page. You will be joining the waiting list and we will notify you once the training is available.

If you have any questions, please contact VMIA at clientlearning@vmia.vic.gov.au or phone (03) 9270 6900.

Client learning

Updated 25 June 2025