CRISC Exam Dumps - Certified in Risk and Information Systems Control

The correct answer isDbecause thesystem ownershould own and drive mitigation of noncompliant platforms. The issue described is a platform noncompliance problem affecting processing and failing to meet approved standards. Ownership of the affected system includes accountability for ensuring that systems meet required security, operational, and performance standards, and for driving corrective action when deficiencies are identified.

The other options are less appropriate:

A. Configuration managermay support configuration control, but does not own the platform risk.

B. Change managercoordinates changes, but is not accountable for the system’s compliance posture.

C. Release managermanages deployments and releases, but does not own ongoing platform compliance and mitigation.

Exact Extracts supporting the answer:

“During the accreditation process the primary role of the system owner is to select and document the security controls for the system.”

“For an IT system supporting a critical business process senior managers should be accountable for the risk.”

“To ensure that identified risk remains at an acceptable level the BEST approach is reviewing controls periodically according to the risk treatment plan.”

“The PRIMARY reason an external risk assessment team reviews documentation as the first step in the risk assessment is to gain a thorough understanding of the enterprise’s business processes.”

“The BEST way to ensure appropriate mitigation occurs on identified information systems vulnerabilities is by assigning action plans with deadlines to responsible personnel.”

These extracts support that accountability for system-level controls and remediation belongs with the owner of the affected system. Therefore, the person who should own and drive mitigation of noncompliant platforms is thesystem owner.

The control owner is the person who is responsible for designing, implementing, monitoring, and maintaining a control. The control owner is best suited to determine whether a new control properly mitigates data loss risk within a system, as they have the most knowledge and authority over the control. The control owner should also evaluate the effectiveness and efficiency of the control and report any issues or gaps to the risk owner.

The other options are not the best suited to determine whether a new control properly mitigates data loss risk within a system. The data owner is the person who has the accountability and authority over the data and its classification. The data owner may not have the technical expertise or access to evaluate the new control. The risk owner is the person who has the accountability and authority to manage a specific risk. The risk owner may not have the detailed knowledge orinvolvement in the new control. The system owner is the person who has the accountability and authority over the system and its operation. The system owner may not have the direct responsibility or oversight of the new control. References = CRISC TOPIC 3 EXAM SHORT Flashcards, CRISC-1-50 topic3 Flashcards, CRISC Certified in Risk and Information Systems Control – Question609

A key risk indicator (KRI) is a metric that measures the level and trend of a risk that may affect the organization’s objectives, operations, or performance1. A KRI threshold is a predefined value or range that indicates the acceptable or tolerable level of risk for the organization2. Theorganization’s risk appetite is the amount and type of risk that it is willing to take in order to meet its strategic goals3. Therefore, the most likely reason for senior management’s response is that the KRI threshold needs to be revised to better align with the organization’s risk appetite. This means that the current threshold is either too low or too high, resulting in false alarms or missed signals. By adjusting the threshold to reflect the organization’s risk appetite, senior management can ensure that the KRI provides relevant and actionable information for risk management and decision making. The other options are not the most likely reasons for senior management’s response, as they imply that the KRI is faulty, irrelevant, or misunderstood. The underlying data source for the KRI is using inaccurate data and needs to be corrected. This option assumes that the KRI is based on erroneous or unreliable data, which would affect its validity and reliability. However, this is not the most likely reason, as senior management would be expected to verify the data quality and accuracy before using the KRI for risk monitoring and reporting. The KRI is not providing useful information and shouldbe removed from the KRI inventory. This option assumes that the KRI is not aligned with the organization’s objectives, strategies, or risk profile, which would affect its usefulness and value. However, this is not the most likely reason, as senior management would be expected to review and update the KRI inventory periodically to ensure that the KRIs are relevant and meaningful for risk management. Senior management does not understand the KRI and should undergo risk training. This option assumes that senior management lacks the knowledge or skills to interpret and use the KRI for risk management, which would affect their competence and confidence. However, this is not the most likely reason, as senior management would be expected to have sufficient risk awareness and education to understand and apply the KRI for risk management. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.4, Page 53.

Assessing the impact of applying the patches on the production environment is the most important task to be performed prior to implementation, because it helps to identify and mitigate any potential risks or issues that may arise from the patching process. Patching is a process ofapplying updates or fixes to software or hardware to address vulnerabilities, bugs, or performance issues. Patching is essential for maintaining the security and functionality of IT systems, but it also introduces the risk of introducing new problems or breaking existing features. Therefore, before applying patches, the organization should assess the impact of the patches on the production environment, such as compatibility, performance, availability, functionality, and security. Surveying other enterprises regarding their experiences with applying these patches, seeking information from the software vendor to enable effective application of the patches, and determining in advance an off-peak period to apply the patches are all helpful tasks to be performed prior to implementation, but they are not the most important task, as they do not directly address the impact of the patches on the production environment. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.4.2, page 211

The effectiveness of risk response options is the best criteria when selecting a risk response, because it reflects the degree to which the response can reduce the impact or likelihood of the risk, or enhance the benefit or opportunity of the risk. The effectiveness of risk response options can be evaluated by considering factors such as cost, feasibility, timeliness, and alignment with the organization’s objectives and risk appetite. The other options are not as good as the effectiveness of risk response options, because they do not measure the outcome or value of the response, but rather focus on the input or process of the response, as explained below:

A. Capability to implement the response is a criteria that considers the availability and adequacy of the resources, skills, and knowledge required to execute the response. While this is an important factor to consider, it does not indicate how well the response can address the risk or achieve the desired result.

B. Importance of IT risk within the enterprise is a criteria that considers the significance and priority of the risk in relation to the organization’s strategy, objectives, and operations. Whilethis is an important factor to consider, it does not indicate how well the response can address the risk or achieve the desired result.

D. Alignment of response to industry standards is a criteria that considers the compliance and conformity of the response with the best practices, norms, and expectations of the industry or sector. While this is an important factor to consider, it does not indicate how well the response can address the risk or achieve the desired result. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.2.2, page 40. How to Select Your Risk Responses -Rebel’s Guide to Project Management, Risk Response Plan in Project Management: Key Strategies & Tips, Risk Responses - options for managing risk - Stakeholdermap.com

A risk dashboard provides a visual, real-time overview of risk levels, trends, and key metrics, making it easier for executive management to understand and act upon. It integrates data from various sources, making it comprehensive.

Implementing an asset tiering model to establish the appropriate level of impact is best served by a quantitative risk assessment methodology. This approach provides a numeric value to the risk levels, which is crucial for accurately tiering assets.

Quantitative Risk Assessment:

Numeric Values:Quantitative methods assign numerical values to the probability and impact of risks, which allows for precise calculations of risk levels. This precision is essential when establishing tiers for assets based on their impact levels.

Data-Driven Decisions:These methods use statistical data and models to predict potential losses and the probability of various risk events, leading to more informed decision-making.

Asset Tiering Model:

Impact Assessment:Quantitative methods allow for detailed impact assessments. By using numeric values, it is easier to compare the potential impacts of different assets and categorize them into appropriate tiers.

Resource Allocation:Precise risk calculations help in the effective allocation of resources. Higher-tier assets (those with higher impact) can be allocated more resources for protection.

The most important factor for the organization to consider before implementing a new in-house developed artificial intelligence (AI) solution is the expected algorithm outputs, as they define the desired outcomes and objectives of the AI solution, and guide the design, testing, and validation of the AI algorithm. The other options are not the most important factors, as they are more related to the research, input, or monitoring of the AI solution, respectively, rather than the output of the AI solution. References = CRISC Review Manual, 7th Edition, page 153.