How To Apply A Risk Based Approach

Welcome the my ninth "How To" video in the 2022 series, and today I'll be taking you through "How To Apply A Risk Based Approach."
A Risk Based is a method of prioritising focus and resources for the purposes of managing risk and implementing controls based on the level of risk posed by a product, area, jurisdiction or product. The expectation is that businesses assess their own risk and determine the appropriate controls to manage the risks based on the severity of the potential harm or loss.
If you have any additional insights or helpful thoughts on applying a risk based approach, I look forward to you sharing them in the comments.
If you would like to learn more about compliance and the risk based approach sign up for my fully virtual Compliance Practices Workshop coming up on 27 September 2022. Visit our website for more information on how the register.
learning.kccompliance.co.za/H...
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[@mandygalea5865]

So clear and straightforward. Great way to actually understand very well and grasp the concepts and subject. Thank you so much

[@CompliancewithKudzai]

Thank you. I'm glad you found it easy tonunderstand.

[@Theflayboy]

Very helpful information. Thanks @Kudzai

[@CompliancewithKudzai]

Yay, thanks for supporting my channel.

[@chamunorwamataranyika13]

Thank you for such a well-put-together video.

[@CompliancewithKudzai]

Thank you, I'm glad you enjoyed it.

[@laronaseribe8326]

Well articulated

[@CompliancewithKudzai]

Thank you Larona!

[@mweembamatongo8550]

This is really helpful.

[@CompliancewithKudzai]

So glad to hear that!

[@AamerAli]

Hi and thanks for the video. I'm very confused and I have some questions that need answers please.
1- is it true that the elements or the stages of risk-based approach is included in ISO 31000?
2- what is the difference between risk management and Risk Based Approach?
3- is there any other approaches rather than risk-based approach? accordingly, if there are no other approaches, why did they call it risk based approach?
4- Where can I use risk-based approach? is it only for AML CFT?
5- Is there any standard that talk about the Risk based approach? any book or organization that explain in more details about the risk-based approach.

[@CompliancewithKudzai]

Wow that's a lot of questions indeed and unfortunately I'm not going to be able to do them justice here in the comments section. I recommend that you join my next compliance workshop where I go into a lot more detail and will be able to answer all your questions directly.
learning.kccompliance.co.za/Home/workshops/

[@AamerAli]

@@CompliancewithKudzai I really appreciate your offer, but I am not working, accordingly I don't have money.
I am trying to understand more to get a suitable job.
Thanks any way ..

[@kayhargraves4795]

Really enjoy your content and would love to connect

[@CompliancewithKudzai]

Thank you so much! Happy to connect.

[@kayhargraves4795]

@@CompliancewithKudzai are you on LinkedIn or have email?

[@CompliancewithKudzai]

I'm Kudzai Chaka on LinkedIn. You can also email me on [e-mail]

[@redscap17]

hi!! can I stil apply to your compliance workshop?

[@CompliancewithKudzai]

It's taking place tomorrow but if you register right now you can still participate.
learning.kccompliance.co.za/Home/workshops/