Security Governance and Risk Management

Correct Answer: Developing a risk appetite statement aligned with business objectives

The MOST effective approach for an organization to integrate risk management into its overall business strategy is developing a risk appetite statement aligned with business objectives. This approach is the most effective because: 1. It directly ties risk management to the organization's goals and objectives. 2. It provides a clear framework for decision-making across the entire organization. 3. It helps in setting appropriate risk tolerance levels for different business activities. 4. It ensures that risk management is not treated as a separate function but is integrated into the core business strategy. The other options, while important, are not as effective in integrating risk management into the overall business strategy: Implementing security controls based on industry standards is a tactical approach that doesn't necessarily align with the organization's specific strategic objectives. Conducting annual risk assessments and creating mitigation plans is a reactive approach that doesn't fully integrate risk management into ongoing business operations. Establishing a dedicated risk management department with executive oversight is organizational structuring, which doesn't guarantee the integration of risk management into the overall business strategy.

Correct Answer: Review and revise employee permissions and roles

The principle of least privilege and segregation of duties requires that employee permissions and roles are reassessed to give them the minimum permissions to perform their jobs. The other options don't address these principles directly.

Correct Answer: Hybrid

The hybrid risk management approach involves using both qualitative and quantitative methods to accurately assess risks. This approach allows for a comprehensive understanding of the risks and can more effectively mitigate them.