Risk-Type Compass™! THE TOUR
Geoff Trickey Psychological Consultancy Ltd.
The Agenda • Measuring risk tolerance – the background • The importance of personality • The Risk-Type Compass™ model • The Risk-Type Compass™ report structure • The Risk-Type Compass™ in use Geoff Trickey Psychological Consultancy Ltd.
Introduction • In March 2010, PCL launched this innovative new assessment of Risk Type. • For the first time it is possible to dig deeper than superficial attitudes to risk. • Based on globally validated personality assessment technology, the Risk-Type Compass™ assigns each individual to one of eight Risk Types.
Geoff Trickey Psychological Consultancy Ltd.
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Who are PCL? Business Psychologists specialising in
psychometric test design since 1992, we: – launched the first UK online testing platform – design innovative psychometric tools – offer BPS verified training and qualifications – deliver evidence based consultancy
Geoff Trickey Psychological Consultancy Ltd.
The Importance of Personality • Our innate level of anxiety – our need for predictability, as well as our impulsivity and need for excitement - is all reflected in our personality • These deeply rooted ‘tendencies’ determine our appetite for risk - the foundations for Risk Type • However we actually learn to deal with risk, either stress or the intoxication of success can trigger a reversion to our true Risk Type Geoff Trickey Psychological Consultancy Ltd.
Attitude + Personality Risk tolerance is based on a combination of attitudes and personality. • Attitudes (variable) – change continuously – effected by climate, experience & circumstances
• Personality (stable) – stable over time – deeply rooted in genes & temperament – the basis of Risk Type Geoff Trickey Psychological Consultancy Ltd.
The Risk-Type Compass™ Model • Measure of Risk Type - (Nature) • Measure of Risk Attitude – (Nurture) • Measure of Tolerance - RTi
Geoff Trickey Psychological Consultancy Ltd.
Why use the Risk-Type Compass™? • The Risk-Type Compass™ identifies 8 Risk Types • Type characteristics pervade all areas of life • It provides a model and the vocabulary required to deal with human risk factors • It enables you to achieve an appropriate balance of Risk Types, suited to roles in the organisation
Geoff Trickey Psychological Consultancy Ltd.
Eight Risk Types • Spontaneous - Impulsive and excitable, they enjoy the spontaneity of unplanned decisions. • Intense - Anxious, alert to any risk and fearful of any threat to their precarious equilibrium. Passionate and self-critical by nature, they take it personally when things don’t work out. • Wary - Self-disciplined and cautious about risk, they are organised but unadventurous and they put security at the top of their agenda. • Prudent -Very self-controlled and detailed in their planning, a strong preference for tradition and the familiar. • Deliberate - Self-confident, systematic and compliant, they experience little anxiety and tackle risk and uncertainty in a business-like and unemotional way. Geoff Trickey Psychological Consultancy Ltd.
Eight Risk Types • Composed - Cool headed, calm and unemotional, but at the extreme may seem almost oblivious to risk and unaware of its effect on others. • Adventurous - Impulsive and fearless. They combine a deeply constitutional calmness with impulsivity and a willingness to challenge traditional approaches. • Carefree - Impulsive and unconventional, not good at careful preparation, they often seem vague about their intentions. Their impatience and impulsiveness can lead to hasty and imprudent decisions. • Individuals who show none of the extremes that characterise the risk types are categorised as ‘Typical’ - not exceptionally prudent or unusually reckless, nor particularly emotional or extremely calm. Geoff Trickey Psychological Consultancy Ltd.
The Generic Report • Assigns individuals to their appropriate Risk Type • Considers Risk Attitude across five key domains • Calculates the individual’s Risk Tolerance Index (RTi)
Geoff Trickey Psychological Consultancy Ltd.
Risk Type
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Geoff Trickey Psychological Consultancy Ltd.
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Eight risk types capture the features of personality concerned with risk
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The Risk-Type Compass™ presents a continuous spectrum in which neighbouring Risk Types are similar and facing Risk Types are opposites
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Markers (•) for extreme types are places at the outer edge, moderate types near the centre
Risk Type Team Profiling •
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• Multiple assessments are plotted on the compass • The analysis looks for convergence and diversity • Different roles/ groups / teams are plotted using different colour markers (• • •)
Risk Attitudes
Geoff Trickey Psychological Consultancy Ltd.
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The Risk-Type Compass™ recognises the significance of current attitudes in influencing risk tolerance in different situations
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Risk Attitude is influenced by experience, training, current climate or personal circumstances – and is therefore changeable
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Focus on the five key domains addressed by Risk Attitude research
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Risk Tolerance Index (RTi)
The Risk-‐Type Compass™ generates a Risk Tolerance Index (RTi) based on Risk-‐Type and posi>on on the Risk-‐Type Compass (i.e. strength of Risk-‐Type), adjusted to reflect the variability of Risk AItude across five key domains.
Geoff Trickey Psychological Consultancy Ltd.
The Report Features • Clear introduction, type descriptions and supporting explanations designed for maximum accessibility • Graphic of Risk-Type - each individual’s ‘compass’ position in relation to the 8 risk types • Graphic showing variability - the individual’s Risk Attitudes across a key sample of different risk domains • Graphic showing overall Risk Tolerance (RTi) Geoff Trickey Psychological Consultancy Ltd.
Practicalities • Fully automated reporting system • Online administration • Price per ‘click’ or annual licence • 102 easy to answer questions about YOU – ‘I am willing to try anything once.’ – ‘I am always careful to stick to the rules.’
• 10-15 minutes to complete • Investor and Financial Advisor reports also available Geoff Trickey Psychological Consultancy Ltd.
Any Questions? • Free trial and further information available from our website: http://www.psychological-consultancy.com Call us on +44(0)1892 559 540 THANK YOU FOR YOUR TIME Geoff Trickey Psychological Consultancy Ltd.