Glossary definition: Risk Control Self Assessment (RCSA)

RCSA: Identifying & Mitigating Risk

Risk Control Self Assessment (RCSA) is a systematic process used to identify, assess, monitor, and control risks within an organization. It is a tool used to ensure that risks are managed effectively, efficiently, and in accordance with organizational objectives. The RCSA process typically involves the identification of risk areas, the assessment of the risks, the application of control measures, the monitoring of risk levels, and the review of the risk management program. The RCSA process is designed to be an ongoing cycle, with continual feedback and improvement of the risk management program. The goal of the RCSA process is to ensure that risks are identified, assessed, and managed in a timely and effective manner. The RCSA process also helps to ensure that risks are managed in a way that is consistent with the organization's objectives.