Risk Assessment Policy
Purpose
To establish a framework for identifying, assessing, and managing information security risks at Build.
Risk Assessment Process
Annual Risk Assessment
- Comprehensive risk assessment conducted annually
- Covers all critical systems and processes
- Results documented and presented to leadership
Continuous Risk Monitoring
- Ongoing monitoring of emerging threats
- Regular vulnerability scanning
- Threat intelligence integration
Risk Categories
- Technical Risks: System vulnerabilities, configuration issues
- Operational Risks: Process failures, human error
- Compliance Risks: Regulatory requirements, contractual obligations
- Strategic Risks: Business continuity, reputation
Risk Treatment
- Accept: Document acceptance for low-impact risks
- Mitigate: Implement controls to reduce risk
- Transfer: Use insurance or contracts to transfer risk
- Avoid: Eliminate the risk by changing processes
Responsibilities
- Security team: Conduct assessments and maintain risk register
- Department heads: Participate in risk identification
- Leadership: Review and approve risk treatment plans