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The risk profile for an individual should determine that person's willingness and ability to take on risk. Willingness to take on risk refers to an individual's risk aversion.
If an individual expresses a strong desire not to see the value of the account decline and is willing to forgo potential capital appreciation to achieve this, this person would have a low willingness to take on risk, and is risk averse.
Failing to minimize risk could also leave the company exposed to a falling stock price, lower revenues, a negative public image, and potential bankruptcy.
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For example, an individual with a well-funded retirement account, sufficient emergency savings and insurance coverage, and additional savings and investments (with no mortgage or personal loans) likely has a high ability to take on risk.
Willingness and ability to take risk may not always match up.
Some risks can be minimized if they are properly accounted for.
It is in a corporation's best interest to be proactive when it comes to its risk management systems.A risk profile is an evaluation of an individual's willingness and ability to take risks.It can also refer to the threats to which an organization is exposed.Compliance helps ensure that the corporation and its employees are following regulatory and ethical processes.
Many companies hire independent auditors to help discover any risks so that they can be properly addressed before they become external issues.
Risk profiles can be created in a number of ways, but generally, begin with a risk profile questionnaire.