GV.RM-04: Strategic direction that describes appropriate risk response options is established and communicated

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Subcategory is new to this version of the framework and incorporates the following item from the previous version: ID.RM-2: Organizational risk tolerance is determined and clearly expressed.

Description

[csf.tools Note: Subcategories do not have detailed descriptions. However NIST has provided the following implementation examples.]

Implementation Examples

1st: 1st Party Risk

Ex1: Specify criteria for accepting and avoiding cybersecurity risk for various classifications of data

Ex2: Determine whether to purchase cybersecurity insurance

Ex3: Document conditions under which shared responsibility models are acceptable (e.g., outsourcing certain cybersecurity functions, having a third party perform financial transactions on behalf of the organization, using public cloud-based services)