Risk Owner
The individual or team accountable for managing a specific risk within an organization, ensuring appropriate risk treatment and monitoring.
A Risk Owner plays a pivotal role in the risk management process. They are responsible for overseeing the risk assessment, treatment, and ongoing monitoring of a specific risk.
The Risk Owner ensures that risk mitigation strategies are implemented and that the risk is managed effectively. They are also responsible for communicating risk-related information to stakeholders.
In compliance frameworks such as ISO 27001 and CSRD, the designation of Risk Owners is crucial for the accountability and transparency of risk management practices.
Risk compliance by city
Related Terms
Risk Assessment
A systematic process of identifying potential threats, evaluating vulnerabilities, and determining the likelihood and impact of risks to an organization's information assets and operations. Risk assessments are foundational to ISO 27001, DORA, and virtually every compliance framework.
Risk Treatment
The process of selecting and implementing actions to modify risk, including avoiding, reducing, sharing, or accepting the risk.
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