Example of Risk Management Policy

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1 Policy Statement

To meet the enterprise business objectives and ensure continuity of its operations, XXX shall adopt and follow well-defined and time-tested plans and procedures, to ensure timely management of organizational risks. Employees are expected to cooperate fully with any Risk Assessment being conducted on systems for which they are held accountable. Employees are further expected to work with the Risk Assessment Team in the development of a remediation plan. The policy and respective procedures, guidelines & forms shall be available to the CISO and members of senior management.

2 Definitions

Entity – Any business unit, department, group, or a third party, internal or external to XXX, responsible for maintaining assets.

Risk – Those factors that could affect confidentiality, availability, and integrity of XXX’s key information assets and systems. The Risk Assessment Team is responsible for ensuring the integrity, confidentiality, and availability of critical information and computing assets on networks while minimizing the impact of security procedures and policies upon business missions.

3 Purpose

The purpose of this policy is to identify areas of risk in a timely manner and manage them to ensure continuity of business processes. The execution, development, and implementation of remediation programs are the joint responsibility of the IT Infrastructure management team and the department responsible for the systems area being assessed. Employees are expected to cooperate fully with any RA being conducted on systems for which they are held accountable. Employees are further expected to work with the Risk Assessment Team in the development of a remediation plan.

4 Scope

4.1 IT Assets

This policy applies to the entire IT Infrastructure.

4.2 Documentation

The Policy documentation shall consist of Risk Management Policy, Risk Assessment and Treatment Procedure, and related guidelines.

4.3 Document Control

The Risk Management Policy document and all other referenced documents shall be controlled. The version control shall be to preserve the latest release and the previous version of any document. However, the previous version of the documents shall be retained only for a period of two years for legal and knowledge preservation purposes.

4.4 Records

Records being generated as part of the Risk Management Policy shall be retained for a period of two years. Records shall be in hard copy or electronic media. The records shall be owned by the respective system administrators and shall be audited once a year.

4.5 Distribution and Maintenance

The Risk Management Policy document shall be made available to all the employees covered in the scope. All the changes and new releases of this document shall be made available to the persons concerned. The maintenance responsibility of the Risk Management Policy document will be with the CISO and system administrators.

5 Privacy

The Risk Management Policy document shall be considered as “confidential” and shall be made available to the concerned persons with proper access control. Subsequent changes and versions of this document shall be controlled.

6 Responsibility

The CISO / designated personnel is responsible for proper implementation of the policy.

7 Policy

Risk Management Plan shall be drawn by the management which shall identify the people within XXX who will perform risk assessment operations. For this purpose, the events (or series of events) which cause disruption to business processes shall be identified. The risk assessment shall consider the probability and impact of such disruptions in terms of time, the scale of damage, and the recovery period. The risk assessment shall identify, quantify and prioritize risks against criteria and objectives relevant to the organization, including critical resources, impacts of disruptions, allowable outage times, and recovery priorities. Based on the results of the assessment, a business continuity strategy shall be outlined for XXX to determine the overall approach to business continuity. The execution, development, and implementation of remediation programs are the joint responsibility of the IT Infrastructure management team and the department responsible for the systems are being assessed. Employees are expected to cooperate fully with any RA being conducted on systems for which they are held accountable. Employees are further expected to work with the Risk Assessment Team in the development of a remediation plan.

8 Enforcement

Any employee found to have violated this policy may be subjected to disciplinary action in line with the HR Policy.

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Published by Pretesh Biswas

Pretesh Biswas has wealth of qualifications and experience in providing results-oriented solutions for your system development, training or auditing needs. He has helped dozens of organizations in implementing effective management systems to a number of standards. He provide a unique blend of specialized knowledge, experience, tools and interactive skills to help you develop systems that not only get certified, but also contribute to the bottom line. He has taught literally hundreds of students over the past 5 years. He has experience in training at hundreds of organizations in several industry sectors. His training is unique in that which can be customized as to your management system and activities and deliver them at your facility. This greatly accelerates the learning curve and application of the knowledge acquired. He is now ex-Certification body lead auditor now working as consultancy auditor. He has performed hundreds of audits in several industry sectors. As consultancy auditor, he not just report findings, but provide value-added service in recommending appropriate solutions. Experience Consultancy: He has helped over 100 clients in a wide variety of industries achieve ISO 9001,14001,27001,20000, OHSAS 18001 and TS 16949 certification. Industries include automotive, metal stamping and screw machine, fabrication, machining, assembly, Forging electrostatic and chrome plating, heat-treating, coatings, glass, plastic and rubber products, electrical and electronic equipment, assemblies & components, batteries, computer hardware and software, printing, placement and Security help, warehousing and distribution, repair facilities, consumer credit counseling agencies, banks, call centers, etc. Training: He has delivered public and on-site quality management training to over 1000 students. Courses include ISO/TS -RAB approved Lead Auditor, Internal Auditing, Implementation, Documentation, as well as customized ISO/TS courses, PPAP, FMEA, APQP and Control Plans. Auditing: He has conducted over 100 third party registration and surveillance audits and dozens of gap, internal and pre-assessment audits to ISO/QS/TS Standards, in the manufacturing and service sectors. Other services: He has provided business planning, restructuring, asset management, systems and process streamlining services to a variety of manufacturing and service clients such as printing, plastics, automotive, transportation and custom brokerage, warehousing and distribution, electrical and electronics, trading, equipment leasing, etc. Education & professional certification: Pretesh Biswas has held IRCA certified Lead Auditor for ISO 9001,14001 and 27001. He holds a Bachelor of Engineering degree in Mechanical Engineering and is a MBA in Systems and Marketing. Prior to becoming a business consultant 6 years ago, he has worked in several portfolios such as Marketing, operations, production, Quality and customer care. He is also certified in Six Sigma Black belt .

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