Risk Training and Risk Culture

Question 1

How may risk training improve risk culture?

Answer 1

Risk training can improve learning and communication of risks in the firm. The L and C in LILAC.

Question 2

What are features of risk training?

Answer 2

• Provide information on control measures.
• Require management and staff feedback on training.
• Be provided on a continual basis.

Question 3

When should risk training take place?

Answer 3

• When a manager is newly appointed or has been given additional responsibilities.
• When procedures have been updated.
• Following an incident or loss at the organisation or competitor’s premises.
• On a refresher basis.