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In an ever-changing world, the commitment to periodically reviewing and updating a Risk Appetite Statement is critical for maintaining its relevancy and alignment with organizational priorities. Having an up-to-date Risk Appetite Statement also ensures that an organization or agency’s ERM program is consistent with the current risk posture. This session will share firsthand insights from USAID’s recent experience updating its Risk Appetite Statement, strengthening the previous version by expanding upon key Agency priorities and incorporating new and emerging risks.