This document discusses optimizing risk management to create business value. It begins by introducing the speaker, Garry Barnes, and his experience in risk management. It then outlines common approaches to risk management, noting that low-performing organizations see risk as compliance-driven while top performers link risk closely to strategy. The document advocates developing risk capabilities, using risk scenarios and defining risk appetite. It provides guidance on designing, implementing and governing an organization's risk appetite using domains, statements and metrics. The overall message is that effective risk management requires optimizing risk-taking to balance costs and benefits in pursuit of business objectives.