Risk Type Compass® Assessment
When risk management strategies fail, it is almost always because the human factor in the equation has not been addressed. It is important to recognize that individuals vary markedly in their disposition towards risk and, of course, that includes Risk Managers. A Risk Manager who is informed and self-aware in this regard is better placed to appreciate the various challenges of compliance and to react to and manage the human dimensions of risk within the company and within their own team.
PRMIA has partnered with Psychological Consultancy Limited to provide the Risk Type Compass and Feedback session.
The Risk Type Compass personality assessment focuses on differences in the way individuals perceive, react to and manage risk, as well as how they make decisions. Based on extensive global psychological research, it places individuals into one of eight distinctive Risk Types, providing insights that have important implications for individuals, teams and the organization.
While risk management has previously focused on procedures, processes, regulation and legislation, Risk Type Compass uniquely assesses the risk-taking nature of individuals. By identifying critical individual differences in risk appetite, organizations can maximize potential and balance the contributions of risk-takers and more risk-averse individuals.
Though applicable to all industry sectors, Risk Type Compass has particular relevance within the banking, investment, finance, insurance, energy, manufacturing and consulting sectors.
- Register for the assessment by clicking the Register Now button. Member pricing is available.
- Receive an email with an access key to take the assessment.
- Take the assessment and receive your personal report.
- Review your report during the Risk Type Compass Feedback Session within 1 week of receiving your report.
Individuals who complete the Risk Type Compass and the required Feedback Session will be awarded two (2) PRMIA Continued Risk Learning (CRL) credits.
Sustaining Members: US$144
Contributing Members: US$152
No refunds will be made after the registrant completes the assessment. It is the registrant’s responsibility to complete the Feedback Session within 1 week of receiving the personal report.
For questions regarding the Risk Type Compass please contact PRMIA at firstname.lastname@example.org
Learn more about the Risk Type Compass
Presented by Geoff Trickey, Managing Director of Psychological Consultancy Ltd.
While risk management has previously focused on procedures, regulation, and legislation, today there is increasing awareness of the need to assess the risk-taking nature of individuals involved. Recent research by leading economists found that the risk-taking policies within banks were determined more by the personality of the bankers in charge than any other measurable factor, including compensation.
Clearly distinguishing between Risk Type, Risk Attitude and Risk Tolerance, the Risk Type Compass presents a practical framework that helps organizations to attain risk management goals. It provides high-utility assessment of deeply rooted dispositions that exert a constant and pervasive influence on resilience to risk, risk-taking behavior and decision-making. Using the power of psychometric methodology, it significantly improves human factor due diligence and risk management effectiveness.
By mapping the location and prevalence of Risk Types within an organization, Risk Type Compass enables risk propensity to be identified and managed. Viewing the risk landscape in a tangible way allows organizations to make decisions about the overall risk culture and the extent to which there are departmental or divisional differences.
PRMIA Trained Risk Type Compass Assessors
Dr Bob Mark, Managing Partner of Black Diamond Risk Enterprises
Mary Rehm, PRMIA Director of Learning and Development