How can you ensure IT security and governance teams share a common understanding of IT risks?

1 Define and communicate IT risk appetite

IT risk appetite is the level of risk that the organization is willing to accept in pursuit of its goals. It is influenced by the organizational culture, strategy, and values, as well as the external environment and stakeholders' expectations. IT security and governance teams should work together to define and communicate the IT risk appetite to the rest of the IT organization and the business units. This will help to align the IT risk management activities with the organizational vision and mission, and to prioritize the IT risks that pose the most threat or opportunity.

2 Establish a common IT risk framework

A common IT risk framework is a set of standards, processes, and tools that guide the identification, assessment, treatment, and monitoring of IT risks. It helps to ensure consistency, transparency, and accountability in IT risk management across the organization. IT security and governance teams should collaborate to establish a common IT risk framework that suits the organization's context, needs, and objectives. They should also use the same terminology, metrics, and reporting formats to communicate the IT risk status and performance to the senior management and the board.

4 Promote IT risk awareness and education

IT risk awareness and education are vital for creating a culture of IT risk management in the organization. IT security and governance teams should work together to raise the IT risk awareness and education among the IT staff, the business users, and the external partners. They should use various channels and methods, such as newsletters, webinars, workshops, simulations, and games, to deliver the IT risk information and knowledge in an engaging and interactive way. They should also encourage the IT risk feedback and suggestions from the IT risk owners and stakeholders, and recognize and reward the IT risk best practices and innovations.

5 Leverage IT risk management tools and technologies

IT risk management tools and technologies can help to automate, streamline, and enhance the IT risk management processes and activities. They can also provide real-time, accurate, and comprehensive data and insights on the IT risk landscape and performance. IT security and governance teams should leverage the IT risk management tools and technologies that are available and suitable for the organization, such as IT risk assessment software, IT risk dashboards, IT risk analytics, and IT risk intelligence. They should also integrate the IT risk management tools and technologies with the other IT systems and platforms, such as IT service management, IT asset management, and IT governance, risk, and compliance.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?