Managing cyber risk according to the organization’s risk management framework is the best recommendation to help ensure cyber risk is assessed and reflected in the enterprise-level risk profile, as it helps to integrate and align the cybersecurity risk management (CSRM) and the enterprise risk management (ERM) processes. A risk management framework is a set of principles, policies, and practices that guide and support the risk management activities within an organization. A risk management framework helps to establish a consistent, comprehensive, and coordinated approach to risk management across the organization and to the external stakeholders.
Managing cyber risk according to the organization’s risk management framework helps to ensure cyber risk is assessed and reflected in the enterprise-level risk profile by providing the following benefits:
It enables a holistic and comprehensive view of the cyber risk landscape and its interdependencies with the business processes and functions.
It facilitates the communication and collaboration among the business and IT stakeholders and enhances their understanding and awareness of the cyber risk exposure and control environment.
It supports the development and implementation of effective and efficient cyber risk response and mitigation strategies and actions that are aligned with the business risk appetite and objectives.
It provides feedback and learning opportunities for the cyber risk management and control processes and helps to foster a culture of continuous improvement and innovation.
The other options are not the best recommendations to help ensure cyber risk is assessed and reflected in the enterprise-level risk profile. Defining cyber roles and responsibilities across the organization is a good practice to clarify and assign the duties and accountabilities for the cyber risk management and control processes, but it does not directly address the cyber risk assessment and integration with the enterprise-level risk profile. Conducting cyber risk awareness training tailored specifically for senior management is a useful method to educate and engage the senior management in the cyber risk management and control processes, but it does not provide asystematic or consistent way to assess and reflect the cyber risk in the enterprise-level risk profile. Implementing a cyber risk program based on industry best practices is a possible action to improve and enhance the cyber risk management and control processes, but it does not ensure the alignment or integration with the organization’s risk management framework or the enterprise-level risk profile. References = Integrating Cybersecurity and Enterprise Risk Management (ERM) - NIST, IT Risk Resources | ISACA, Identifying and Estimating Cybersecurity Risk for Enterprise Risk …
