Risk appetite and taxonomy
Risk appetite and taxonomy are the reference data the rest of ERM Core stands on. The taxonomy gives every company of the group the same names; appetite statements say how much risk each company accepts, and its KRIs show whether it is inside that line.
Pages in this section
Section titled “Pages in this section”| ID | Page | For |
|---|---|---|
| B7.1 | Risk appetite statements — per risk category, linked to KRIs and thresholds; approval and versions | Group RM, Entity Risk Manager |
| B7.2 | Risk taxonomy and RACI — the 8 risk categories, Basel mapping, hazard types; RACI per process | Group RM |
Where this fits in COSO ERM
Section titled “Where this fits in COSO ERM”Governance & Culture and Strategy & Objective-Setting are policy and committee work. ERM Core holds their reference data — appetite statements, the taxonomy and RACI — so the registers, KRIs and reports all use them. See Standards mapping.