Who is MOST likely to be responsible for the coordination between the IT risk strategy and the business risk strategy?
Answer(s): D
The chief information officer (CIO) is the most likely person to be responsible for the coordination between the IT risk strategy and the business risk strategy, because the CIO is the senior executive who oversees the information technology (IT) function and aligns it with the organization's strategy, objectives, and operations. The CIO is also responsible for ensuring that the IT function delivers value, supports innovation, and manages IT risks effectively and efficiently. The CIO can coordinate the IT risk strategy and the business risk strategy by communicating and collaborating with other business leaders, establishing and implementing IT governance frameworks and policies, and monitoring and reporting on IT performance and risk indicators. The other options are not as likely as the CIO to be responsible for the coordination between the IT risk strategy and the business risk strategy, because they have different or limited roles and responsibilities in relation to IT and business risk management, as explained below:A . Chief financial officer (CFO) is the senior executive who oversees the financial function and manages the financial risks of the organization. The CFO may be involved inthe coordination between the IT risk strategy and the business risk strategy, especially when it comes to budgeting, funding, or reporting on IT-related projects and initiatives, but the CFO is not the primary person who oversees the IT function and aligns it with the organization's strategy and objectives.B . Information security director is the senior manager who oversees the information security function and manages the information security risks of the organization. The informationsecurity director may be involved in the coordination between the IT risk strategy and the business risk strategy, especially when it comes to protecting the confidentiality, integrity, and availability of the information assets and systems, but the information security director is not the primary person who oversees the IT function and aligns it with the organization's strategy and objectives.C . Internal audit director is the senior manager who oversees the internal audit function and provides independent assurance on the effectiveness and efficiency of the organization's governance, risk management, and control processes. The internal audit director may be involved in the coordination between the IT risk strategy and the business risk strategy, especially when it comes to auditing, reviewing, or testing the IT-related processes and controls, but the internal audit director is not the primary person who oversees the IT function and aligns it with the organization's strategy and objectives. References = Risk and Information Systems Control Study Manual, Chapter 1, Section 1.1.1, page 7. The Strategic CIO: Balancing Business and ITPriorities, Technology's Role in Enterprise Risk Management, Aligning Enterprise Cyber Risk and Business Strategy
A risk practitioner discovers several key documents detailing the design of a product currently in development have been posted on the Internet. What should be the risk practitioner's FIRST course of action?
Answer(s): A
According to the CRISC Review Manual (Digital Version), the first course of action when a risk practitioner discovers several key documents detailing the design of a product currently in development have been posted on the Internet is to invoke the established incident response plan, which is a set of policies, procedures, and resources that enable the organization to respond to and recover from an incident that affects the confidentiality, integrity, or availability of its IT assets and processes. Invoking the incident response plan helps to:Contain and isolate the incident and prevent further damage or lossIdentify and analyze the source, cause, and impact of the incident Eradicate and eliminate the incident and restore normal operations Communicate and coordinate the incident response activities and roles with the relevant stakeholders, such as the business owner, the risk owner, the senior management, and the external partiesLearn and improve from the incident and update the incident response plan and the risk registerReferences = CRISC Review Manual (Digital Version), Chapter 4: IT Risk Monitoring and Reporting, Section 4.1: IT Risk Monitoring, pp. 219-2201
Which key performance efficiency IKPI) BEST measures the effectiveness of an organization's disaster recovery program?
The key performance indicator (KPI) that best measures the effectiveness of an organization's disaster recovery program is the percentage of critical systems recovered within the recovery time objective (RTO). The RTO is the acceptable timeframe within which a business process or system must be restored after a disruption. The percentage of critical systems recovered within the RTO indicates how well the disaster recovery program can meet the business continuity requirements and minimize the impact of the disruption. The other options are not as good as the percentage of critical systems recovered within the RTO, as they are related to the efficiency, quality, or scope of the disaster recovery program, not the effectiveness of the disaster recovery program. References = Risk and Information Systems Control StudyManual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.2: Key Performance Indicators, page 183.
A control process has been implemented in response to a new regulatory requirement, but has significantly reduced productivity. Which of the following is the BEST way to resolve this concern?
Answer(s): C
The best way to resolve the concern where a control process has been implemented in response to a new regulatory requirement, but has significantly reduced productivity, is to escalate the issue to senior management. Senior management is the highest level of authority and responsibility in the organization, and they are responsible for setting the strategic direction, objectives, and risk appetite of the organization. Senior management should also oversee the risk management process, and ensure that the controls are aligned with the organization's goals and values. Escalating the issue to senior management can help to find a balance between complying with the regulatory requirement and maintaining the productivity of the organization. The other options are not as effective or desirable as escalating the issue to senior management, because they either ignore the problem, violate the regulation, or compromise the control.
The MOST important objective of information security controls is to:
The most important objective of information security controls is to provide measurable risk reduction. Information security controls are the policies, procedures, techniques, or technologies that are implemented to protect the confidentiality, integrity, and availability of information assets. The main purpose of information security controls is to reduce the risk of unauthorized access, use, disclosure,modification, or destruction of information assets, and to ensure that the information assets support the enterprise's objectives and performance. Information security controls should be measurable, meaning that they should have clear and quantifiable criteria for evaluating their effectiveness and efficiency in reducing the risk exposure to an acceptable level. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.1.1, page 1151
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