riskpolitik

Riskpolitik, or risk policy, is a formal framework adopted by organizations and public institutions to guide how they identify, assess, manage, and monitor risks that could affect the achievement of objectives. In German-speaking contexts, the term riskpolitik is commonly used to describe this policy approach. It translates risk management into policy, defining principles, governance structures, decision rights, and the overall risk approach.

A risk policy typically defines the organization's risk appetite and tolerance, the roles of the board, executive management, and risk owners, and the processes for risk identification, assessment, treatment, monitoring, and reporting. It establishes risk governance arrangements, including committees, escalation paths, and accountability.

The policy aligns with recognized standards such as ISO 31000, and is integrated into strategy and planning rather than treated as an isolated activity. Risk treatment options may include avoidance, reduction, sharing (insurance, outsourcing), or retention within risk limits. Ongoing monitoring and periodic review ensure the policy remains relevant in changing environments.

In practice, riskpolitik supports decision-making, resource allocation, compliance, and resilience. In the public sector, it also encompasses crisis management, business continuity, and risk communication to stakeholders. The approach is intended to improve transparency and accountability, while remaining adaptable to evolving risks and contexts.