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.

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Risk Management

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.

Risk Culture

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.

Assessment Process

  1. Register for the assessment by clicking the Register Now button below.
  2. Receive an email with an access key to take the assessment.
  3. Take the assessment and schedule time to review your report with a trained reviewer.
  4. Review your report with a trained reviewer during the Risk Type Compass Feedback Session.

Sustaining Members: US$144
Contributing Members: US$152
Non-members: US$160

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Cancellation: No refunds will be made after the registrant completes the assessment. It is the registrant’s responsibility to select a Feedback Session date and time that fits their schedule, and to request a reschedule within 48 hours if necessary. No shows or cancellations within 48 hours of the scheduled time will not be refunded.

PRMIA will make all efforts to schedule the Feedback session according to the registrant’s selected date and time.

For questions regarding the Risk Type Compass please contact PRMIA at training@prmia.org.

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