Strategic Risk
What is Strategic Risk?
Risks that affect or are created by an organization's business strategy and strategic objectives, including market changes and competitive threats.
Terms that appear alongside strategic risk
Each of these is named in at least one of the same controls as strategic risk. The number is how many controls name both.
- risk assessment 2 shared controls
- compliance 2 shared controls
- risk profile 2 shared controls
Frameworks that govern strategic risk
What the standards actually require on strategic risk
Requirements naming strategic risk across 6 standards, quoted from the control text.
Per UK Bribery Act 2010 Section 7: failure to prevent bribery offence. Implement adequate procedures defense. Requirements include (a) Proportionate procedures + (b) Top-level commitment + (c) Risk assessment + (d) Due diligence + (e) Communication + Training...
UKBRIBE-1 · Section 7 Strategic Risk Assessment and Adequate Procedures →Determine scope and applicability of the OCC Heightened Standards per 12 CFR Part 30 Appendix D Section I and the OCC Heightened Standards for Large Banks final rule (effective November 2014 + revisions).
OCCHS-1 · Scope, Applicability, and Definitions of Heightened Standards →The IRM Standard introduces a four-category risk taxonomy + FOIL (Financial/Operational/Internal/External) typology to provide comprehensive Risk Universe coverage.
IRM-RiskCategories-Strategic-Financial-Operational-Knowledge-FOIL-External-Internal-DownsideUpside · IRM Four Risk Categories - Strategic + Financial + Operational + Knowledge + FOIL Typology + External vs Internal + Downside Threats and Upside Opportunities + Risk Universe →Conduct risk assessments at the three tiers defined in NIST SP 800-30 Rev 1 Section 2.3 and aligned with NIST SP 800-39 governance tiers.
NISTSP30-2 · Three-Tier Risk Assessment Scoping (Organisation, Mission/Business, Information System) →Execute the Assess step per NIST SP 800-39 Chapter 3 Section 3.2 using NIST SP 800-30 (Risk Assessments) as the supporting methodology.
NISTSP39-3 · Risk Assessing: Organisation, Mission, and System Level Assessments →Per NAIC ORSA Guidance Manual Section 2: assessment of risk exposure under normal and stressed conditions. Requires Quantitative Risk Assessment using actuarial + economic + statistical methods for material risk categories (underwriting + market + credit + liq...
ORSA-S2 · ORSA Manual Section 2: Insurer's Assessment of Risk Exposure →Questions people ask about strategic risk
What is Strategic Risk?
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See how Strategic Risk applies across compliance frameworks
Our platform maps 686 frameworks with 311K cross-framework control mappings. Explore how this concept is addressed across standards.