568 words, 2.1 minutes read.
ISO 31000 Risk Management 1 big thing: Be sure your personnel is infusing quality of service characteristics scalability, manageability, maintainability, etc.
The big picture: Assure your design develops new risk policies and strategies; contributes to ERM tools and methodologies to measure, monitor, and report risks; ensures proper application of risk management framework and controls.
Why it matters: Make headway so that your operation performs quality reviews to identify any changes required to enhance program effectiveness expand capabilities, and ensures local Business Unit risks are appropriately assessed, managed and escalated into the larger enterprise program.
State of play: Drive innovation with new and emerging technologies such as modern authentication standards, multi-factor authentication, quantum-safe certificates, public cloud security services, and other emerging technologies.
On the flip side: Make headway so that your operation analyzes enterprise capabilities and IT opportunities in enterprise business processes; provides resolutions for enterprise architecture improvements by utilizing new technological applications.
Between the lines: Make headway so that your staff is working closely with the enterprise risk management leader for organizational resiliency, oversee the technology business continuity planning and testing activities to enhance the overall technology resiliency and disaster recovery capability.
Be smart: Work with business lines and support teams to ensure effective risk monitoring programs are in place or developed for new and revised products.
Meanwhile: Apply strategic thinking and quantified risk analysis to ensure a well-managed ERM Program and support management in developing, implementation and continuous improvement of Enterprise Risk Management tools, practices, policies standards and documentation to analyze and report enterprise risks, and to manage risks.
Go deeper: Lead and promote the development of an enterprise risk management strategy to support effective identification, assessment, measurement, control, monitoring, and communication of corporate risks, especially those risks having the potential to exceed corporate tolerances and disrupt the achievement of strategic initiatives.
What they’re saying: “Participate in the design, development, delivery and maintenance of a best-in-class risk identification and assessment program to ensure risks associated with business activities are effectively identified, measured, monitored, and mitigated.”
Under the hood: Advise on new processes products, initiatives and strategies from a risk and control perspective; guide the business unit(s) through the various governance approvals related to new initiatives ensuring proper controls.
A MESSAGE FROM THE ART OF SERVICE
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What we’re hearing: “Collaborate with other security teams to integrate security metrics unto a single dashboard to provide leadership with insights in making risk based business decisions.”
The bottom line: Be certain that your workforce works closely with Technology teams, risk partners, and business lines to provide feedback and prioritization recommendations for infrastructure and application vulnerabilities.
What’s next: Invest in the development, implementation, and management of the overall process for enterprise risk strategy and policies, standards, and guidelines related to corporate risk.
ICYMI: Secure that your operation supports the management and enhancement of a community of risk champions and risk liaisons across corporate functions and business units.
A MESSAGE FROM THE ART OF SERVICE
Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/