An enterprise learns that a new privacy regulation was recently published to protect customers in the event of a breach involving personally identifiable information (PII). The IT risk management team's FIRST course of action should be to:
A.
evaluate the risk appetite for the new regulation.
B.
determine if the new regulation introduces new risk.
C.
assign a risk owner for the new regulation.
D.
define the risk tolerance for the new regulation.
B. determine if the new regulation introduces new risk.
Before addressing risk appetite, assigning a risk owner, or defining risk tolerance, the team should first assess whether the new regulation introduces any new risks to the organization. This involves understanding the requirements of the regulation, evaluating how it impacts the organization's handling of personally identifiable information (PII), and identifying potential vulnerabilities or areas where compliance may be challenging. Once the team has a clear understanding of the new risks introduced by the regulation, they can then proceed to other risk management activities such as evaluating risk appetite, assigning a risk owner, and defining risk tolerance.
Should B to see if the new regulation poses any risk which is beyond current risk appetite. If it is beyond current risk appetite then move on to next step.
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MDMA786
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