This document outlines the risk management policy for the services provided to package−client. The purpose of this policy is to proactively identify, assess, and mitigate risks that could impact the confidentiality, integrity, availability, or compliance posture of package−client's services and data.
This policy applies to all business units, technical systems, and third-party integrations involved in the delivery of services to package−client. It covers:
- Security risks (e.g., data breaches, ransomware)
- Operational risks (e.g., downtime, misconfiguration)
- Compliance risks (e.g., regulatory violations)
- Strategic risks (e.g., vendor lock-in, scalability)
- Human risks (e.g., insider threats, skill gaps)
Risks are identified from a variety of sources, including those specific to package−client's deployment and business context.
- Sources: Risks are identified through:
- Internal audits and reviews.
- Feedback and onboarding assessments with package−client.
- Vulnerability scans and penetration tests.
- Regulatory updates and legal reviews.
- Incident postmortems and Root Cause Analysis (RCA) reports.
- Risk Register: All identified risks are logged in a centralized Risk Register with:
- A unique ID.
- A clear description of the risk.
- The affected assets or processes of package−client.
- The date the risk was identified.
- The source or trigger of the risk.
Each risk is scored using a standardized matrix, with the assessment done in the context of the potential impact on package−client's operations.
| Factor |
Scale |
| Likelihood |
Rare → Certain (1–5) |
| Impact |
Minimal → Critical (1–5) |
| Risk Score |
Likelihood × Impact |
- Categories:
- Low (1–5): Monitor only
- Medium (6–10): Mitigation required
- High (11–15): Immediate action and escalation
Risks are mitigated by implementing controls to protect package−client.
- Controls: Risks are mitigated through:
- Technical controls (e.g., encryption, access restrictions).
- Process changes (e.g., new review steps, automation).
- Policy updates (e.g., stricter onboarding, vendor vetting).
- Training and awareness (e.g., phishing simulations).
- Ownership: Each risk is assigned to a responsible owner (e.g., DevOps Lead, Security Officer) with a deadline for mitigation.
- Review Cadence: The Risk Register is reviewed quarterly by the Security and Compliance team.
- Status Updates: Risks are updated with:
- Mitigation status (Open, In Progress, Resolved).
- The residual risk score.
- Notes from review meetings.
- package−client Visibility: High-impact risks affecting package−client are disclosed via secure channels, along with detailed mitigation plans and regular status updates.
¶ 7. Exception Handling
- Accepted Risks: If a risk cannot be mitigated (e.g., due to constraints from package−client), it may be accepted with documented justification. The acceptance of certain risks may require formal sign-off from package−client.
- Deferred Risks: Risks may be deferred with a scheduled re-evaluation date.
This framework aligns with:
- ISO 27001 Annex A.12.1 (Information Security Risk Assessment)
- SOC 2 Trust Services Criteria (Risk Mitigation)
- NIST SP 800-30 (Risk Management Guide)
This policy will be reviewed annually, or in the event of a significant change in the risk landscape for package−client, to ensure its continued effectiveness.