RISK ASSESSMENT STEPS:

1. RISK IDENTIFICATION
   - Environmental scanning
   - Stakeholder interviews
   - Workshop facilitation
   - Historical analysis
   - Scenario analysis

2. RISK ANALYSIS
   - Probability assessment
   - Impact assessment
   - Velocity consideration
   - Control effectiveness

3. RISK EVALUATION
   - Risk prioritization
   - Comparison to appetite
   - Aggregation analysis
   - Interdependency mapping

4. RISK RESPONSE
   - Accept (within appetite)
   - Mitigate (reduce likelihood/impact)
   - Transfer (insurance, contracts)
   - Avoid (eliminate activity)

5. MONITORING & REPORTING
   - Key Risk Indicators (KRIs)
   - Risk dashboards
   - Escalation triggers
   - Periodic reassessment

RISK MATRIX:

         IMPACT
         Low    Medium    High    Critical
LIKELIHOOD
Very High   3      6        9        12
High        2      4        6         9
Medium      1      2        4         6
Low         1      1        2         3

SCORING:
1-2: Accept/Monitor
3-4: Active Management
6: Senior Management Attention
9-12: Executive/Board Attention

TPRM LIFECYCLE:

1. PLANNING
   - Vendor inventory
   - Risk categorization
   - Assessment requirements

2. DUE DILIGENCE
   - Questionnaires
   - Documentation review
   - On-site assessments
   - Reference checks

3. CONTRACTING
   - Security requirements
   - SLAs
   - Audit rights
   - Termination provisions

4. ONGOING MONITORING
   - Performance tracking
   - Risk reassessment
   - Issue management

5. TERMINATION
   - Data return/destruction
   - Access revocation
   - Transition planning

ASSESSMENT DOMAINS:

INFORMATION SECURITY:
- Security controls
- Data protection
- Incident response
- Access management

OPERATIONAL:
- Business continuity
- Change management
- Performance history

FINANCIAL:
- Financial stability
- Insurance coverage
- Pricing sustainability

COMPLIANCE:
- Regulatory compliance
- Certifications
- Audit history

REPUTATIONAL:
- Market reputation
- Legal history
- References

OPERATIONAL RISK CATEGORIES:

PEOPLE:
- Human error
- Inadequate training
- Fraud
- Key person dependency

PROCESS:
- Control failures
- Procedure gaps
- Documentation issues
- Capacity constraints

SYSTEMS:
- IT failures
- Data integrity
- System integration
- Technology obsolescence

EXTERNAL:
- Vendor failures
- Regulatory changes
- Natural disasters
- Market disruptions

CONTROL EVALUATION:

DESIGN EFFECTIVENESS:
- Is the control properly designed?
- Does it address the risk?
- Is it documented?

OPERATING EFFECTIVENESS:
- Is it consistently applied?
- Is it working as intended?
- Is evidence maintained?

CONTROL RATINGS:
Effective: Control works as designed
Needs Improvement: Minor gaps
Inadequate: Significant gaps
Absent: No control in place

REPUTATION DRIVERS:

PRODUCTS & SERVICES:
- Quality
- Safety
- Value

CORPORATE BEHAVIOR:
- Ethics
- Governance
- Environmental impact

WORKPLACE:
- Culture
- Diversity
- Employee treatment

LEADERSHIP:
- Integrity
- Competence
- Communication

FINANCIAL:
- Performance
- Transparency
- Investor relations

MONITORING SOURCES:

MEDIA:
- Traditional news
- Online publications
- Broadcast

SOCIAL:
- Twitter/X
- LinkedIn
- Reddit
- Industry forums

STAKEHOLDER:
- Customer feedback
- Employee surveys
- Investor calls
- Analyst reports

METRICS:
- Sentiment score
- Share of voice
- Message pull-through
- Crisis response time

BOARD REPORT ELEMENTS:

EXECUTIVE SUMMARY:
- Top risks
- Emerging risks
- Risk appetite status

RISK DASHBOARD:
- Heat map
- Trend analysis
- KRI status

DEEP DIVES:
- Focus areas
- Incident summary
- Response effectiveness

FORWARD LOOK:
- Emerging risks
- Strategic risks
- Mitigation plans