Risk management involves the practice of addressing and handling threats to the organization in the form of cybersecurity attacks and compromised or lost data. The process of establishing appropriate risk management guidelines is critical to ensure company operations and reputation do not suffer adverse impact.

It’s not an easy process, achieving a sound risk management foundation, because of all the moving parts involved: Users, systems, network, data, remote or cloud locations, and other elements can produce a level of complexity difficult to tame. The approach must involve both the overall forest as well as individual “trees.”

The purpose of this Risk Management Policy from TechRepublic Premium is to provide guidelines for establishing and maintaining appropriate risk management practices. This policy can be customized as needed to fit the needs of your organization.

The Risk Management Policy includes:

• How to establish duties of the policy owner, policy custodian and audit team
• Risk categories
• How to identify insurable vs. non-insurable risks
• How to conduct risk assessments on key suppliers/third party vendors
• How to implement controls
• How to establish incident response and investigations
• Protective monitoring
• Violations and penalties
• Acknowledgment of Risk Management Policy form
• And more!