New hires come from a variety of education and experience backgrounds and most importantly, each new employee has their own perception of what is an acceptable risk. It is important for risk managers to cooperate with the Human Resources department or any other business unit responsible for training, to jointly carry out training on the basics of risk management for all new employees.

One of the risk managers we interviewed mentioned that the risk management induction should not be long. It should take about ten minutes and include the basics of business and investment decisions under uncertainty, key risk management roles and responsibilities and the ISO31000:2018 risk management principles as per the company’s Risk Management Policy.