By risk, I don't really think of it as a specific battle style, I really just think of it as fearing a certain battle style or action by your opponent. One thing that really comes to mind is the fact that wailord is decimated by energy ball, a move that can be learned by a surprising amount of pokemon. Now obviously we don't want a NU-power pokemon running around our CAP server. Think of it as a pokemon that is incredible, except for one or two flaws. Ninjask would be great if not for stealth rock and taunt. Tyranatar is torn apart by a rare move: grass knot. Quiver Dance users have nightmares about Psych Up (and Heart Swap).
1. What should the build of our Pokemon be? (eg. Bulky offensive, hyper defensive, etc)
This pokemon is probably going to work best as a set up pokemon. If an opponent can stop the CAP from preparing the team properly, then it could be a quick loss for the CAP team, but if the CAP succeeds, the team just might be unstoppable.
2. What facet of strategy should this Pokemon's focus be on? (eg. Support, hyper offence, etc)
Some bulk is going to be necessary to keep this pokemon alive, but not enough that it's weakness cannot be exploited.
3. In which parts of the process should we focus on Reward, and in which should we focus on Risk? (eg. Low Speed so reliance on set-up moves, etc)
Reward should definitely be laid out in moves and abilities, with typing, stats, and other obscure things such as weight open to take on the risk.
If my post made no sense at all, I apologize.
I casually play competitive pokemon.
Qwilfish = Awesome.