Identify, assess and evaluate risk to enable the execution of the enterprise risk management strategy. Task Statements:

• Collect information and review documentation to ensure that risk scenarios are identified and evaluated.
• Identify legal, regulatory and contractual requirements and organizational policies and standards related to information systems to determine their potential impact on the business objectives.
• Identify potential threats and vulnerabilities for business processes, associated data and supporting capabilities to assist in the evaluation of enterprise risk.
• Create and maintain a risk register to ensure that all identified risk factors are accounted for.
• Assemble risk scenarios to estimate the likelihood and impact of significant events to the organization.
• Analyze risk scenarios to determine their impact on business objectives.
• Develop a risk awareness program and conduct training to ensure that stakeholders understand risk and contribute to the risk management process and to promote a risk-aware culture.
• Correlate identified risk scenarios to relevant business processes to assist in identifying risk ownership.
• Validate risk appetite and tolerance with senior leadership and key stakeholders to ensure alignment.

Develop and implement risk responses to ensure that risk factors and events are addressed in a cost-effective manner and in line with business objectives. Task Statements:

• Identify and evaluate risk response options and provide management with information to enable risk response decisions.
• Review risk responses with the relevant stakeholders for validation of efficiency, effectiveness and economy.
• Apply risk criteria to assist in the development of the risk profile for management approval.
• Assist in the development of risk response action plans to address risk factors identified in the organizational risk profile.
• Assist in the development of business cases supporting the investment plan to ensure risk responses are aligned with the identified business objectives.

Monitor risk and communicate information to the relevant stakeholders to ensure the continued effectiveness of the enterprise’s risk management strategy. Task Statements:

• Collect and validate data that measure key risk indicators (KRIs) to monitor and communicate their status to relevant stakeholders.
• Monitor and communicate key risk indicators (KRIs) and management activities to assist relevant stakeholders in their decision-making process.
• Facilitate independent risk assessments and risk management process reviews to ensure they are performed efficiently and effectively.
• Identify and report on risk, including compliance, to initiate corrective action and meet business and regulatory requirements.

Design and implement information systems controls in alignment with the organization’s risk appetite and tolerance levels to support business objectives. Task Statements:

• Interview process owners and review process design documentation to gain an understanding of the business process objectives.
• Analyze and document business process objectives and design to identify required information systems controls.
• Design information systems controls in consultation with process owners to ensure alignment with business needs and objectives.
• Facilitate the identification of resources (e.g., people, infrastructure, information, architecture) required to implement and operate information systems controls at an optimal level.
• Monitor the information systems control design and implementation process to ensure that it is implemented effectively and within time, budget and scope.
• Provide progress reports on the implementation of information systems controls to inform stakeholders and to ensure that deviations are promptly addressed.
• Test information systems controls to verify effectiveness and efficiency prior to implementation.
• Implement information systems controls to mitigate risk.
• Facilitate the identification of metrics and key performance indicators (KPIs) to enable the measurement of information systems control performance in meeting business objectives.
• Assess and recommend tools to automate information systems control processes.
• Provide documentation and training to ensure information systems controls are effectively performed.
• Ensure all controls are assigned control owners to establish accountability.
• Establish control criteria to enable control life cycle management.