8. Glossary

Alert

Alerting in risk management is the process of providing urgent information about significant risks to an organization's decision-making bodies, so that rapid, effective action can be taken to address both the root cause of a risk and the current situation.

Risk appetite framework

It can be defined as a formal document subject to regular monitoring, in which an organization's senior management has defined priority risks to be monitored, so-called "non-negotiable" risks that must not occur, and risk limits and alert thresholds that enable risk exposure to be monitored more closely than in the case of risk mapping, which is generally carried out at more frequent intervals. The risk appetite framework is regularly reviewed in the light of risk indicators and corporate governance priorities.

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