riskavdelning

Riskavdelningen, or the risk department, is a function within organizations responsible for overseeing risk management. Its primary objective is to ensure that risk exposures are identified, measured, monitored, and controlled in alignment with the institution’s risk appetite and strategic goals. The department typically reports to the CEO or board through a risk committee and works closely with compliance, internal audit, finance, and operations.

Key responsibilities include developing and maintaining the risk management framework and policies; establishing a risk appetite statement; creating and maintaining the risk taxonomy and risk registers; identifying and assessing risks; measuring and aggregating risk using quantitative models and qualitative judgment; monitoring and reporting on risk exposures; conducting stress testing and scenario analysis; incident management and root cause analysis; and promoting a risk-aware culture.

Risk types commonly covered are credit risk, market risk, liquidity risk, operational risk, regulatory or compliance risk, strategic risk, reputational risk, and cyber risk. Tools and methods used include key risk indicators (KRIs), risk dashboards, scenario analysis, stress tests, value-at-risk, risk models, and data governance. In financial institutions, riskavdelningen is often governed by regulatory frameworks such as Basel III and Solvency II, with specific expectations for governance, reporting, and control.

In a Swedish context, risk management is integrated into corporate governance with the risk department coordinating with the board and senior management, and aligning with the requirements of Finansinspektionen (the Swedish Financial Supervisory Authority). The risk avdelningen plays a central role in decision making, capital allocation, resilience planning, and fostering a risk-aware culture.