CRISC Certified in Risk and Information Systems ControlRisk Response and ReportingMedium
A healthcare organization is implementing a new electronic health record (EHR) system. Senior management has designated the Chief Medical Officer (CMO) as the 'risk owner' for risks related to patient data accuracy and clinical workflow disruption. Which of the following best describes the CMO's primary responsibility in this role?
- ATo physically implement the technical controls to mitigate the identified risks.
- BTo ensure that risks are appropriately managed and reported, and that controls are effective.
- CTo develop the detailed risk assessment methodology for the EHR system.
- DTo audit the effectiveness of the controls implemented by the IT department.
Show answer & explanationAnswer & explanation
Correct answer: B. To ensure that risks are appropriately managed and reported, and that controls are effective.
A risk owner is ultimately accountable for the effective management of an assigned risk, which includes ensuring appropriate response strategies are implemented, controls are effective, and risk status is reported. They don't typically perform the technical implementation or auditing.
Why the other options are wrong
- A. Physical implementation of technical controls is typically an IT operational responsibility, not the primary role of a risk owner like a CMO.
- C. Developing risk assessment methodology is usually a function of the risk management team or framework, not a specific risk owner's primary task.
- D. Auditing control effectiveness is the role of an independent audit function, not the risk owner, who is part of the first or second line of defense.
Risk Owner
An individual, typically a senior manager, who is accountable for a specific risk, including its identification, assessment, response, and ongoing monitoring and reporting.
- Accountable for the effective management of an assigned risk.
- Ensures appropriate risk response strategies are implemented.
- Monitors the effectiveness of controls related to their assigned risk.
- Reports on the status of the risk to relevant stakeholders.
Memory trick: Owners Report and Oversee, Ensuring Risk is Managed with Authority.