Risk Review
What is Risk Review?
A periodic assessment of the risk landscape, control effectiveness, and risk management processes to ensure they remain current and effective.
Terms that appear alongside risk review
Each of these is named in at least one of the same controls as risk review. The number is how many controls name both.
- privacy risk 4 shared controls
- audit 4 shared controls
- tone at the top 3 shared controls
- due diligence 3 shared controls
- risk tolerance 3 shared controls
- joint controllers 3 shared controls
- risk appetite 3 shared controls
- risk appetite statement 3 shared controls
Frameworks that govern risk review
What the standards actually require on risk review
Requirements naming risk review across 6 standards, quoted from the control text.
The risk management policy includes IT and cybersecurity risks and is reviewed and updated at least annually by the Risk Management Committee of the Board in consultation with the ITSC.
rbi-cybersecurity-framework-for-banks::39 · Para 39: risk policy covers IT and cyber risk, reviewed annually by RMCB with ITSC →Closeout documentation captures lessons for future projects, including effective practices, avoidable problems and how high-performing teams were formed, memorialised where possible by updating policies, standards and procedures, and comprises project plans wi...
ffiec-it-examination-handbook::DAM-IV.N.3(e) · IV.N.3(e) Closeout Documentation (Development, Acquisition, and Maintenance) →Reviews repeat the hazard identification methods and consult workers and their representatives, asking whether controls work in design and operation, whether they introduced new problems, whether all hazards were identified, whether new methods, equipment or c...
australia-model-code-of-practice-how-to-manage-work-health-and-safety-risks::5b · 5 Use the review questions and set review frequency by level of risk →Control measures must be maintained so they remain fit for purpose, suitable for the nature and duration of work, and installed, set up and used correctly (r 37), and reviewed and if necessary revised (r 38) so that, so far as reasonably practicable, the work...
australia-model-code-of-practice-managing-the-risks-of-plant-in-the-workplace::2.4 · 2.4 Maintain and review plant control measures (rr 37 and 38) →The NDIA carries out a formal risk assessment in plan development (vulnerability to abuse, exploitation and financial risk, informal supports, decision-making ability), builds safeguards and supported decision-making into plans, sets plan management and suppor...
australia-ndis-quality-and-safeguarding-framework-2016::I-3 · Safeguards in planning, implementation and review →The project specifies, builds or acquires the security solutions for the designed mechanisms, applying secure practices to all development and specifying every security configuration parameter in the implementation representation (code, products, network diagr...
canada-itsg-33-it-security-risk-management::A2-3.7.3 · 3.7.3 Specify, develop and test security solutions →Questions people ask about risk review
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