DOMAIN 1—GOVERNANCE (26%)

Defining Risk Management Strategies

• Business goals operations are the most important factor for determining risk management strategies.
• A risk practitioner must analyze objectives and risk tolerance to define a framework.
• Different enterprises vary in risk acceptance, with some investing in mitigating controls.

Risk Management Strategic Plan

• Strategic plans require a clear vision for the future and a roadmap from the starting point.
• A full understanding of the current and desired future states is crucial.

Business Unit (BU) Management Team Responsibilities

• The BU management team handles both risk management and reporting activities.
• Tasked with identifying, measuring, monitoring, controlling, and reporting risks to executive management.
• BU leaders are accountable for remediation efforts as risk owners.

Outsourcing IT to Foreign Countries

• Enforceability of laws and regulations of the country of origin is a critical security consideration.
• Laws of the foreign vendor's country could drastically affect an enterprise.
• Lack of knowledge of local laws and inability to enforce them could have far reaching consequences.

Improving Enterprise Risk Management

• A maturity model is most helpful for desired improvements.
• A maturity model identifies the current status and the path to the enterprise's desired state.

Reviewing Risk Management Processes

• Independent reviews of risk factors and the profile help ensure an effective process, identifying areas for improvement.
• The quality of the risk assessment process can be ensure and improvide this way, but mistakes may still occur.

Evaluating Impact of Legal and Compliance Requirements

• Performing a compliance-oriented business impact analysis is the most effective evaluation method.
• Business process stakeholder interviews will identify business objectives.

Hiring a Consultant

• Methodology is the most important element in the request for proposal when hiring a consultant to determine the maturity level of the risk management program.
• In this situation, methodology illustrates process, offering a basis for aligning expectations.

Addressing New Laws Impacting Security

• Analyze the systems and tech-related processes that may be impacted.
• Determine whether existing controls already address the new requirements.

Outsourcing Data Processing

• In case of a regulatory violation during outsourced personnel data processing, the enterprise bears legal responsibility as they own the data.

Evaluating Internal Information Security Controls

• The system auditor is responsible when it comes to continuous feedback to senior management about the effectiveness of internal controls.
• This falls under normal routine responsibilities.

Overall Effectiveness of a Risk Management Program

• Gaining the participation of relevant stakeholders has proven to be the the most effective method
• Stakeholders play an active role in supervision and risk monitoring, increasing the effectiveness of risk management.

Achieving Risk-Based Organizational Objectives

• Embedding risk management activities into business processes to achieve these objectives in the most effective manner possible.
• In this paradigm, risk management does not exist in a silo.

Assessing Risk Management Process Capability

• Regulatory entitites use assessments performed by an objective and independent third party as the most reliable course of action.
• External reviews are therefore the most objective.

Evaluating Current Risk Profile

• Conduct another risk assessment using and independent expert is the surest way to make sure an enterprise's security posture is still within compliance.
• Indepedent experts provide more objective results than internal staff.

Policy Defining Data and System Ownership

• Granting users unauthorized access to create, modify, or delete data is the is considered a great policy that defines data and system ownership inadequately.

Implementing Risk Management Strategy

• Senior management must assess and incorporate the results of risk management into the decision-making process.

Managing IT-Related Business Risk

• The primary focus is to protect valuable mission-critical information based on a risk assessment approach.
• Application focus in this case only if they process mission-critical data.

Perspective of Risk Management

• Assembling an interdisciplinary team to manage risk to ensure complete insights an in depth enterprise wide perspective on said risk.

Corporate Policy in Expansion

• A global policy including local amendments best support enterprise expansion to other regions that account for local regulations with an alignemnt approach.

Data Classification

• The data owner is responsible for classifying data according to the enterprise's data classification scheme.

Information Security Governance Model

• Models depend significantly on the overall organizational structure.

Information Security Procedures

• They should be updated frequently as new software is released to make sure procedures are kept current.

Risk-Aware Culture

• Issues are escalated when suspicious activity is noticed to best equip management with a timely manner.

IT Risk Management

• Enable risk-aware business decisions.

Approach for Global Enterprises

• Establish baseline standards for all locations and add as needed.

IT Risk Management Plan

• Approval and sign off needs to come from senior managers.

Risk Assessment

• Conduct for the purpose of determining the security boundary and to further identifying risk assessment.

Most Effective Group

• In managing and executing an enterprise risk program mid-level managers perform this the most effectively.

IT Policies and Procedures

• The IT steering committee in this case should should be comprised of individuals from each department.

First Line of Defense

• operational managers own the risk and address it by mitigating control deficiencies.

Primary Consideration

• Goal and objectives of the enterprise.

Create Policy First

• Stratigic IT plan is the most vital policy to create when developing an enterprise's governance model.

Concern to Risk Practitioner

• It is a must that there is internal reporting of a successful attack.

Insights to An Enterprises Risk

• A capability maturity model review.

Enterprise Risk Management

• The role that the internal audit function plays is essential with assisting and reporting on internal controls.

Biggest Concern with Systems

• Must comply with each others contractual security obligations.

Goal Of the IT Dept

• To make sure that new procedures are put into place with the new technology,

Aggregated Results

• To the risk owner is the most suitable target audience for aggregated results of continuous monitoring

A Primary Consideration

• How risk affects the business.

What to be aware of:

• Having an internal system with a framework already in place.

Ensure and Align

• Resources are directed toward areas of low risk tolerance.

Concern to Reviewing

• Not following policeis for three years. The biggest concern is not following best and standard practices.

Accountable for Business risk

• The customers the users of IT that ultimately takes on any business failures.

Important to Report

• Requirements that are legal and regulated this is most key and important.

What Enterprise Does

• Respond and note to risks for they are unacceptable to be looked over.

important While Selecting

• Culture for ones self, how can u not Select it.

What to Balance

• Accepting those current and adding addition measures depending on those level of appretite.

Key Objectives

• To fulfill those legal external requirements

A Status of an Enterprise

• The current status as it is.

What a Role Should Perform

• Making sure to manage its system and also their policy.

Great Significane

• Must have changes so it’s more than one.

Senior Management

• Before a business runs, high risk or low what it will eventually become.

Great Reliance

• How management culture predisposed them and took.

A Frameworks Purpose

• Allows for a consistent and stable support.

Example

• Tolerance is most important,

Review Ethical

• The culture to be seen over time.

Correct to Be Seen

• Then to mitigate.

Assists in Developments; Likelihood Impact

• With what may or may not happen within the data set.

Has Most Concerns

• Where customs are based in a particular region and domestic differences.

Annual Loss Expectancy (SLE)

• Take place yearly or monthly that may be seen.

Best Indicator

• That busines is informed by risk.

Be Effective

• That are followed by enterprises.

Considering Risk of Absorption

• That culture and predisposition.

Great Concern

• For high risk actions by employees.

Best Support

• Business side that is for its company.

Should Develop to

• Make sure it to business to plan.

Key Fact

• Ensure there are resources for Low tolerance.

Not Follow

• That does not follow the best known and good practices.

Unauthorize

• That increases the employees to create or just be there.

Most Effective

• The decision to make that is for everyone to accept.

Key Step

• All IT is what to come.

role should do

• It should review the options in which is correct.

Effective Action

• What has taken and the actions needed.

Determine action

• You determine how they should act.