Risk oversight and risk management are high priorities on the agenda of most organizations. Questions often arise as to how the chief risk officer (CRO) can ensure that organizational learning is supportive of effective risk management. A positive risk culture should help the institution become more proactive in (a) recognizing unique opportunities or risks and (b) using that knowledge to evaluate risk/reward trade-offs and decision-making options to seize the initiative before others do.

Organizations can use the questions included in this tool to shape and support an effective risk culture.