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You're reading from  ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide

Product typeBook
Published inSep 2023
PublisherPackt
ISBN-139781803236902
Edition1st Edition
Concepts
Cybersecurity
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Author (1)
Shobhit Mehta
Shobhit Mehta
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Shobhit Mehta

Shobhit Mehta is the Security and Compliance Director at Headspace, an on-demand mental health company in San Francisco, CA. Previously, he worked in different facets of security and assurance with HSBC, Deutsche Bank, Credit Suisse, PayPal, and Fidelity Investments. He also works with ISACA to develop exam questions for CISA, CISM, and CGEIT, served as the technical reviewer for the CGEIT and CISA review manuals, and is a published author for the COBIT 5 journal. He completed his MS in cybersecurity at Northeastern University, Boston, and holds CRISC, CISM, CISA, CGEIT, CISSP, and CCSP certifications. In his spare time, he likes to explore the inclined trails of the Bay Area, complete ultramarathons, and blog on GRCMusings.
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Understanding types of risk

Risk and opportunity are two sides of the same coin. As such, it is inevitable that an organization that is looking to expand into new territories and harness the presented opportunities will encounter risks. The goal of a risk practitioner is to manage this risk so that an organization can continue to leverage these opportunities while balancing risk.

There are three types of risks that a risk practitioner should be aware of – inherent risk, residual risk, and current risk. Let us review each of these in detail:

  • Inherent risk: The level of risk present without considering the actions or controls that will be implemented. This is the risk that is ever-present and is specifically not avoided.
  • Residual risk: The level of risk after implementing the controls is considered residual risk. Residual risk is calculated by subtracting the effectiveness of control from the inherent risk. Residual Risk = Inherent Risk – Implemented Controls...
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ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide
Published in: Sep 2023Publisher: PacktISBN-13: 9781803236902
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Shobhit Mehta

Shobhit Mehta is the Security and Compliance Director at Headspace, an on-demand mental health company in San Francisco, CA. Previously, he worked in different facets of security and assurance with HSBC, Deutsche Bank, Credit Suisse, PayPal, and Fidelity Investments. He also works with ISACA to develop exam questions for CISA, CISM, and CGEIT, served as the technical reviewer for the CGEIT and CISA review manuals, and is a published author for the COBIT 5 journal. He completed his MS in cybersecurity at Northeastern University, Boston, and holds CRISC, CISM, CISA, CGEIT, CISSP, and CCSP certifications. In his spare time, he likes to explore the inclined trails of the Bay Area, complete ultramarathons, and blog on GRCMusings.
Read more about Shobhit Mehta

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