Risk Management Framework
What is Risk Management Framework?
A set of components that provide the foundations and organizational arrangements for designing, implementing, and improving risk management.
Terms that appear alongside risk management framework
Each of these is named in at least one of the same controls as risk management framework. The number is how many controls name both.
- governance 18 shared controls
- audit 17 shared controls
- nist 16 shared controls
- risk appetite 14 shared controls
- compliance 13 shared controls
- material risk 10 shared controls
- enterprise risk management 9 shared controls
- business continuity 9 shared controls
Frameworks that govern risk management framework
What the standards actually require on risk management framework
Requirements naming risk management framework across 6 standards, quoted from the control text.
The institution must maintain a risk management framework that lets it develop and implement strategies, policies, procedures and controls for the different types of material risk and that gives the Board a comprehensive institution wide view of material risks...
CPS220-04 · Maintenance of a Risk Management Framework →The Board of the RSE licensee is ultimately responsible for the risk management framework.
SPS220-13 · Board Responsibility for the Risk Management Framework →Articles 5 to 15 are disapplied for: investment firms that are small and non-interconnected; payment institutions and electronic money institutions exempted under their directives;
DORA-Art.16 · Simplified ICT risk management framework →Within the risk management framework that CPS 220 or SPS 220 already requires, the entity must build and keep up: (a) governance for overseeing operational risk;
apra-cps-230-operational-risk-management::15 · Para 15 Operational risk elements of the risk management framework →The review report under DORA Article 16(2) must be submitted in a searchable electronic format and contain an introduction (context, critical functions, strategy, ICT dependencies, executive summary of risk, threats, control effectiveness and posture, reported...
dora-rts-on-ict-risk-management-framework-commission-delegated-regulation-eu-2024-1774::41 · Article 41: Format and content of the report on the review of the simplified ICT risk management framework →HKMA TM-G-1 Governance of Technology Risk. (1) BOARD AND SENIOR MANAGEMENT OVERSIGHT OF TECHNOLOGY RISK (TM-G-1.2.1) - Board approval of IT strategy + technology risk appetite + risk tolerance; senior management accountability + governance structure;
HKMA-TMG1-Governance-Board-Framework-Roles · TM-G-1 Governance - Board + Senior Mgmt Oversight + Technology Risk Management Framework + Roles →Questions people ask about risk management framework
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