The primary reason to assign a risk owner in an organization is to ensure accountability for the risk and its treatment. A risk owner is a person or entity that has the authority and responsibility to manage a specific risk and to implement the appropriate risk response actions. By assigning a risk owner, the organization can ensure that the risk is monitored, reported, and controlled in accordance with the organization’s risk appetite and tolerance.
[References: The CISM Review Manual 2023 defines risk owner as “the person or entity with the accountability and authority to manage a risk” and states that “the risk owner is responsible for ensuring that the risk is treated in a manner consistent with the enterprise’s risk appetite and tolerance” (p. 93). The CISM Review Questions, Answers & Explanations Manual 2023 also provides the following rationale for this answer: “To ensure accountability is the correct answer because it is the primary reason to assign a risk owner in an organization, as it ensures that the risk and its treatment are managed by a person or entity that has the authority and responsibility to do so” (p. 29). Additionally, the article Risk Ownership: The First Step of Effective Risk Management from the ISACA Journal 2019 states that “risk ownership is the first and most important step of effective risk management” and that “risk ownership ensures that there is clear accountability and responsibility for each risk and that risk owners are empowered to make risk decisions and implement risk responses” (p. 1), , , , , , , , ]
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