Rank: Forum user 
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Ok all
I'd like to hear your thoughts on the difference between a Risk Profile and a Risk Assessment?
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Rank: Super forum user
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From what I can gather a Risk Profile describes an organisation’s overall risks and it’s appetite to manage those risks. Risk Assessment just looks the risks associated with a process or procedure
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Rank: Forum user
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Thank you
Its a newish one too me, must have missed it somwhere but i see it everywhere now
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Rank: Super forum user 
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A risk profile takes the results of your risk assessment and ranks them in order of severity. You can also use risk profile data to align your risk management with business management to form an overall risk management plan and business impact assessment profile as part of a business continuity plan. Plotting risk profile data on plans of the building can also help you to identify risk "hot spots". This is only a taster of what risk profile data can be used for and it is well worth doing the risk profiling work to sort and rank your risks.
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Rank: Forum user
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Thank you, intersting to hear the different thoughts on this
So if carrying out a Risk Profile would you use the same 5 steps as you would for a risk assessment?
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Rank: Forum user 
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Yeh, I guess you could use the RA steps maybe after using these 6 steps: 1. Ask the client what they think their risk appetite is, which will start a conversation about risk. 2. Compare the results of their risk profile with their own views on their risk profile. 3. Show examples of the most recent worst 12 month period and best 12 month period and ask how they would feel if their portfolio fell by x%. 4. Agree suitability of the risk. 5. Select a strategy that matches the risk. 6. Document and review the clients' risk.
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 1 user thanked Ashbo82 for this useful post.
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Rank: Super forum user
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Originally Posted by: Ashbo82  Yeh, I guess you could use the RA steps maybe after using these 6 steps: 1. Ask the client what they think their risk appetite is, which will start a conversation about risk. 2. Compare the results of their risk profile with their own views on their risk profile. 3. Show examples of the most recent worst 12 month period and best 12 month period and ask how they would feel if their portfolio fell by x%. 4. Agree suitability of the risk. 5. Select a strategy that matches the risk. 6. Document and review the clients' risk.
Partly yes but the profile is derived from your data generated by the standard risk assessment information so it isn't another "super" risk assessments so the Five Steps don't really apply. Its more about categorising your risks, unserstanding the wider business impact of the risk and ranking them using a variety of other management tools such as SWOT analysis, developing risk tolerance boundaries and so on.
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Rank: Forum user
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Thanks agian all
HSG 65 outlines a the elements of a Risk Profile - the nature of level of threats faced by an orginisation ( nature of hazards/risks)
- the likehood of adverse effects occuring ( likehood)
- the level of disruption and costs associated with eacy type of risk ( Conseqeunce x Likehood)
- effectivness of controls ( current controls and additional controls)
My point is I guess that even if you were exmaming the risks of the whole business it is still a risk assessment as far as I can see
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Rank: Super forum user
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It is a risk assessment of a type but it doesn't lend itself to the 5 steps process so easily because you are considering other factors as part of the process. Its so difficult to put it down in words its easier to explain face to face with an example. I would send you some links to look at but our search engine is asking me if I am a robot and then telling me that our system isn't supporting the check at the moment. If I can get into the internet later on I will send you the links then.
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Rank: Forum user
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Originally Posted by: Hsquared14 It is a risk assessment of a type but it doesn't lend itself to the 5 steps process so easily because you are considering other factors as part of the process. Its so difficult to put it down in words its easier to explain face to face with an example. I would send you some links to look at but our search engine is asking me if I am a robot and then telling me that our system isn't supporting the check at the moment. If I can get into the internet later on I will send you the links then.
many thanks for your reply, if you could send the links that would be great!
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Rank: Super forum user
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In my experience a Risk Profile is a more strategic view of a company and its activities. e.g. a garage would have a wider risk profile - more risks from the h&s point of view, than a solicitors office. You might say a garage is a medium risk profile, while a solicitors office has a low risk profile.
A Risk Assessment is for the actual work activities identified as presenting a potentially significant hazard. Guess another way to look at it - a Risk Profile is a summation of risks.
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