Glossary definition: Cybersecurity Risk Appetite

Cybersecurity: Defining Your Risk Appetite

Cybersecurity Risk Appetite is the level of risk an organization is willing to accept in order to achieve its objectives. It is determined by the organization’s overall risk management strategy and helps define the scope of acceptable risk to the organization’s assets and reputation. It is a critical component of an organization’s overall risk management program and should be tailored to the organization’s specific needs and objectives. The risk appetite should be regularly reviewed and updated to ensure it remains relevant and appropriate. It is important to note that the risk appetite should not be a static number, but should be based on an organization’s ability to identify, monitor, and respond to cyber threats and risks. Additionally, the risk appetite should be regularly monitored to ensure it is aligned with the organization’s objectives and risk management strategy.