Risk Mitigation
What is Risk Mitigation?
Actions taken to reduce the likelihood or impact of an identified risk to an acceptable level through implementing controls or other measures.
Terms that appear alongside risk mitigation
Each of these is named in at least one of the same controls as risk mitigation. The number is how many controls name both.
- risk assessment 3 shared controls
- risk appetite 3 shared controls
- encryption 2 shared controls
- breach notification 2 shared controls
- compliance 2 shared controls
- compliance verification 2 shared controls
- data protection 2 shared controls
- cybersecurity 2 shared controls
Frameworks that govern risk mitigation
What the standards actually require on risk mitigation
Requirements naming risk mitigation across 6 standards, quoted from the control text.
Sets the minimum standards for non-centrally cleared OTC derivatives: scope and phase-in (margin standards, risk mitigation standards, comparability assessment, effective dates, transitional arrangements);
hkma-spm::CR-G-14 · CR-G-14 Non-centrally Cleared OTC Derivatives Transactions: Margin and Other Risk Mitigation Standards →For services through an Australian permanent establishment the AML/CTF policies must deal with identifying significant changes to the s 26C(3) risk matters, carrying out customer due diligence under Part 2, reviewing and updating the policies after a risk asse...
amlctf-act-2006-australia::26F(3) · Risk-mitigation policies: significant changes, customer due diligence and policy review →The bank may reduce standardised capital for collateral, netting, guarantees and credit derivatives only when documentation is binding and legally enforceable in all relevant jurisdictions, supported by legal review, and when CRM is not double counted and resi...
basel-iii-international-banking-framework::CRE22 · Recognise credit risk mitigation only when legal, operational and haircut requirements are met →Management mitigates the common API risks: extra authorisation checks at the object level against broken object-level authorisation, validated user authentication suited to the API's use with multifactor authentication considered, security settings kept approp...
ffiec-it-examination-handbook::DAM-IV.I.2 · IV.I.2 API Risk Mitigation (Development, Acquisition, and Maintenance) →At a minimum, wireless devices apply critical operating system patches and upgrades as soon as available after testing, are configured for local device authentication, use advanced authentication or CSO-approved compensating controls, encrypt all resident CJI,...
fbi-cjis-security-policy::5.20.3 · 5.20.3 Wireless Device Risk Mitigations →Techniques are evaluated in a common framework; the ready techniques are integrity-only (unencrypted) TLS and sharing the private key with the inspection device, and the practical considerations for each end in recommendations to mitigate the risks they introd...
iec-62351-power-systems-communication-security::90-2:8 · Part 90-2, clauses 7, 8 and 12: evaluation framework, ready techniques (unencrypted TLS, private key sharing) and practical considerations with risk mitigation recommendations →Questions people ask about risk mitigation
What is Risk Mitigation?
Why is Risk Mitigation important for compliance?
Which compliance frameworks address Risk Mitigation?
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See how Risk Mitigation applies across compliance frameworks
Our platform maps 1,016 frameworks with 316K cross-framework control mappings. Explore how this concept is addressed across standards.