Question
What are the activities of the information risk governance framework at the following levels?
a. Strategic level?write an short answer for 5 marks
a. Strategic level?write an short answer for 5 marks
Answers
GPT-4o mini
At the strategic level, the activities of the information risk governance framework focus on establishing a high-level vision and direction for managing information risks within the organization. Key activities include:
1. **Policy Development**: Creating and approving comprehensive information risk policies that align with the organization's mission and regulatory requirements.
2. **Risk Appetite Definition**: Defining the organization's risk appetite and tolerance levels, which guide risk management decisions and priorities.
3. **Stakeholder Engagement**: Involving senior leadership and key stakeholders in discussions about information risk to ensure alignment with business goals and adequate support for risk initiatives.
4. **Resource Allocation**: Ensuring that sufficient resources (financial, human, and technological) are allocated to manage information risks effectively, including investments in tools and training.
5. **Performance Monitoring**: Establishing metrics and benchmarks to monitor the effectiveness of the information risk governance framework, and making strategic adjustments based on performance outcomes and emerging threats.
These activities help ensure that information risks are managed in a way that supports strategic objectives and protects organizational assets.
1. **Policy Development**: Creating and approving comprehensive information risk policies that align with the organization's mission and regulatory requirements.
2. **Risk Appetite Definition**: Defining the organization's risk appetite and tolerance levels, which guide risk management decisions and priorities.
3. **Stakeholder Engagement**: Involving senior leadership and key stakeholders in discussions about information risk to ensure alignment with business goals and adequate support for risk initiatives.
4. **Resource Allocation**: Ensuring that sufficient resources (financial, human, and technological) are allocated to manage information risks effectively, including investments in tools and training.
5. **Performance Monitoring**: Establishing metrics and benchmarks to monitor the effectiveness of the information risk governance framework, and making strategic adjustments based on performance outcomes and emerging threats.
These activities help ensure that information risks are managed in a way that supports strategic objectives and protects organizational assets.