Which term aims to establish a strategic risk management framework that is supported by key stakeholders at the top tier of the organization?

• A. Risk Identification
• B. Frame
• C. Data Steward
• D. Privacy Officer

Answer: (B)

The concept being tested is establishing a Frame for risk management. A risk management frame defines how risk is governed at the highest levels, setting the purpose, scope, governance structure, and the big decisions that drive risk across the organization. It ensures there is sponsorship and accountability from top-tier stakeholders, which is essential for aligning risk activities with business strategy, defining risk appetite, and securing the resources needed to manage risks effectively. Without this frame, risk activities can become fragmented or disconnected from strategic goals.

Think of it as the overarching blueprint that gets buy-in from the leadership, clarifies who owns what, and lays out how risk information is communicated and acted upon at all levels. In contrast, risk identification focuses on spotting potential threats and vulnerabilities, which is an important component but not the overarching framework. A Data Steward or Privacy Officer are roles focused on data governance and privacy programs, not on creating a strategic, organization-wide risk management framework supported by senior leadership.