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His week, I’ll talk about the second point on the principle of Coso’s management Views risk and efficiency.
Review and revision have 3 points:
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Evaluates the essential change
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Reviews Risk and Effectiveness
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Pursues improvement in the risk management of an enterprise
Basic Risk indicators (KRI) are the tactical application of a risk declaration of appetite. They are used with Basic performance indicators (Kpi) To give an early indication that the risk increases and approaches the threshold of tolerance to risk.
Many organizations focus KPI highly, not Kris, but the reality is that you need to develop and measure both. Krista is describing the “risky altitude” (where you are) against KPI, which describe the “risky trajectory” (where you go). Chris and KPI should be looked at together and complement.
A useful set of Kris determines appropriate indicators that call out potential risks that can influence the organization’s ability to achieve its goals.
There must be a connection to the risks to strategic initiatives so that KRIS captures the most appropriate information that may inform you, ERM and executive guidance when the risk may exceed the risk appetite of the organization.
Here are some key things to keep in mind when developing Kris:
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Define the strategic goals of your organization.
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The Card Risk Risk Risk, which directly influences your organization’s ability to achieve these goals.
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Determine indicators that can serve as leading indicators that indicate whether the risk is closer to a threshold at risk. These indicators will be unique to your organization.
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Connect KRIS with specific risk scenarios.
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Make sure they are full, accurate and specific.
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They don’t have too much Chris. Choose a handful that is specific and applicable to your organization.
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Measuring Kris is a challenge. Make sure you have the right mechanisms for measuring the KRI you develop.
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Aggregate, compare and systematically interpret the KRIS at the enterprise level.
Connecting Chris and KPI helps to bring clarity to the fog of complex and conflict indicators. In this way, it raises the profile of the cybersecurity team, showing that you can engage leaders in significant conversations around which cyber risks that are in the permissible deviations, which are not and why.
Next time I will talk about improving the risk management of the enterprise.
As always, I love your comments and if you want to have a direct conversation, please shoot me a message and we will set up something.
Have a nice week!
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