Definition

Risk management sits within the broader area of governance, risk and compliance. It helps businesses decide how to prioritise threats, allocate resources and document the way security decisions are made.

Good practice around risk management makes it easier to demonstrate compliance to regulators and customers, supports executive decision‑making and keeps cyber risk aligned with wider business objectives.

Used Cases

  • Defining policies and risk thresholds that reference risk management.
  • Reporting cyber risk posture to leadership using metrics tied to risk management.
  • Aligning security investments and projects with priorities informed by risk management.

FAQs

How does risk management fit into governance, risk and compliance work?

Risk management helps translate technical security topics into business language and priorities. It is used to justify controls, support audits and show that risks are being considered and managed.

Who is usually responsible for risk management in an organisation?

Responsibility for risk management is often shared between security leaders, risk managers and business owners. They collaborate to make sure policies, processes and reporting are aligned with strategy.

How can organisations mature their approach to risk management?

Maturing risk management involves setting clear objectives, measuring performance and regularly updating policies. Engaging stakeholders and learning from incidents also drive continuous improvement.

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