SFIA Skills: Risk management (BURM)

Identifies and categorises organisation-wide strategic and operational risks. Breaks down risks by sub-categories, such as compliance, architecture, environment, financial etc. and considers mitigation activities in the context of organisational risk appetite.

Advises on the evaluation of identified risks (including probability/frequency of occurrence, impact and severity). Advises on appropriate action, including contingency planning, and countermeasures.

Monitors status of risks, and reports status and need for action to key stakeholders.

Coordinates response to quantified risks, which may involve acceptance/retention, transfer, reduction or avoidance/elimination. Coordinates the development of countermeasures and contingency plans.

Demonstrates financial awareness as a part of risk management (e.g. cost-effectiveness analysis of proposed counter measures).

Monitors status of risks, and reports status and need for action to senior colleagues.

Assists with development of agreed countermeasures and contingency plans.

Demonstrates financial awareness as a part of risk management (e.g. cost-effectiveness analysis of proposed counter measures).

Maintains documentation of risks, threats, vulnerabilities and mitigation actions.