Risk Type Compass

Leading a financial institution requires confrontation with risk, and individuals and teams alike have distinct predispositions when it comes to addressing risk. When individuals and teams are aware of their behavioral tendencies, decision making in risk-laced situations can be confronted with that insight leading to better decisions for the benefit of all involved, be they colleagues or members.

We utilize the Risk Type CompassTM assessment to capture and explore the distinguishing ways in which a management team or board behaves in risk-orientated situations.

About This Assessment

Assessment Objectives

What do individuals or teams want out of a Risk Type Compass assessment? Following is a list of commonly sought-after objectives we’ve distilled from our high-performing credit union clients.

  • They want the to assess and respond to situations involving risk in reliable, consistent, and productive ways.

  • They want a construct for evaluating and improving leadership soft skills and talent.

Our Support

Do you share these same kinds of objectives? If so, interested in how we can help you meet them? Here's our approach:

  1. Using the Risk Type Compass assessment tool we assess the approach you take when making decisions involving risk.

  2. We then generate a personalized report outlining your risk type profile.

  3. Finally, a certified Risk Type Compass Assessment Consultant debriefs you in a one-hour virtual session, working with you to explore your assessment results so that you are aware of the upsides and downsides of your profile type.

If you are interested in extending your relationship beyond the assessment and debrief we can also work with you to create a “profile utilization” plan for leveraging your risk type profile. We can also coach you through the execution of your plan.

Teams have risk type profiles too. If you'd like to engage your team in this process, we follow the outline above, working with each individual team member to assess their risk type profile, but we also generate a team risk compass report outlining the profile of the team as a whole. We also debrief the team as a group so that the team better understand the upsides and downsides of its aggregate profile, and how it can work better as a team given individual team member profiles.

As with individuals, we can also work with the team to create a “profile utilization” plan for leveraging the team's risk type profile. We can also coach the team through the execution of its plan.

Deliverables

What is the deliverable for a Risk Type Compass team assessment? What do you gain as a result of completing a Risk Type Compass assessment?

  1. Comprehensive Risk Type Compass Personal Reports detailing the risk awareness, risk tolerance, risk management and decision making of individuals. Note that individual results are confidential.

  2. If completing a team assessment, a Comprehensive Risk Type Compass Team Report detailing the risk awareness, risk tolerance, risk management and decision making for the team as a whole.

  3. Improvement in a key element of leadership soft skills, and more effective decision making when risk is involved.

Reports & Resources

Risk Type Compass Acknowledgments

© Copyright Psychological Consultancy Limited, 2014, all rights reserved.
Risk Type Compass® is a registered trademark in Europe: CTM No. 010726818.