Fundamentals of Risk Management 6: Risk Treatment

Risk treatment refers to when a firm applies risk controls and other strategies in response to risk.

Selecting the most appropriate risk treatment options involves balancing the potential benefits derived from enhancing the achievement of objectives against the costs, efforts or disadvantages involved in the proposed actions.

Our Risk Treatment course will help you learn how to respond to various types of risks and how they can be treated to minimise their negative probability and impact.

Start your trial Course details

40 Minutes
All staff
Based on best-practice risk management frameworks and suitable for global audiences.
Global Risk Management Library

Learning objectives

Understand how risk treatment as a process fits into the broader risk management framework
Apply various types of risk treatment options depending on the type of risk
Understand the importance of risk controls and how to implement them

Welcome

Learning objectives
How to complete this course

What is risk treatment?

The Management of Risk (M0R) framework

How should we respond to risk?

Inherent versus residual risk

Selecting the most appropriate risk treatment option

Risk acceptance

Example: Risk acceptance

Risk transfer

Example: Risk transfer

Implementing risk controls

You decide: Implementing risk controls

Contingency planning

Examples: Contingency planning

Terminating activities that result in risk

Roles of business continuity & operational resilience in risk treatment

Benefits of risk controls

You decide: What are examples of risk controls for different types of risks?

What is a risk control environment?

What is a risk control appetite?
What are the different types of risk controls?

Risk treatment & the Three Lines of Defence (3LoD) model

Role of the board of directors in a risk control framework

You decide: What are the board of directors' responsibilities?
Additional committees on the board of directors

Role of senior management in the risk control framework

Role of the first, second & third LoD in the risk control programme

What role should cost-benefit analysis (CBA) play in risk treatment?

How should a company then implement its risk response?

Importance of duty segregation when implementing risk controls

You decide: Conflicts of interest that can impede risk control implementation

Summary

Affirmation

Assessment

Your questions, answered

Common FAQs

Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
For major legislative changes, we:
- Will send you email alerts to ensure you are notified
- Offer you a free trial of newly created or updated content
- Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance

Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features	Supported file types and details
File Exchange	File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB
SCORM files	Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB
xAPI file	Max file size: 2GB
Videos	File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help
Images	File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB
CPD evidence	File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB
Policy documents	PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB
Offline activities evidence	File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB
Client logo files	File types provided by client: EPS, PDF, AI and SVG
Registers	PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files
Declarations	JPG, JPEG, PNG, GIF, XLS and XLSX files