What Is a Risk Appetite Statement?
Over the past few weeks, we’ve talked quite a bit about risk:
- What it is.
- How it applies to compliance.
- How you can start to think about it as an aspect of your overall business strategy.
In many of the cases we’ve discussed, we’ve referred to risk in terms of mitigation–how to close the gap between your security capabilities and potential threats in the wild.
But what’s critical to understand about risk is that it is just as much about how much risk you want to take on as you want to remove. And, when discussing potential risks concerning business goals, you must consider your risk appetite statement.