System Risk Assessment for the United Kingdom
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System Risk Assessment Template
I need a System Risk Assessment Template for our new cloud-based financial management platform that complies with FCA regulations and includes specific focus on third-party integration risks, to be implemented by March 2025.
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1. System Overview: Description of the system, its purpose, architecture, and scope of assessment
2. Risk Assessment Methodology: Detailed explanation of the risk assessment approach, scoring criteria, and evaluation methods used
3. Threat Identification: Comprehensive analysis and listing of potential threats to the system, including internal and external threats
4. Vulnerability Assessment: Evaluation of system vulnerabilities, weaknesses, and potential points of failure
5. Impact Analysis: Assessment of potential business, operational, and compliance impacts of identified risks
6. Risk Matrix: Probability and impact matrix showing risk levels and prioritization
7. Risk Treatment Plan: Detailed plan for addressing identified risks, including controls and mitigation strategies
1. Industry-Specific Compliance: Additional risk assessment requirements for regulated industries such as financial services or healthcare
2. Third-Party Integration Assessment: Risk assessment specific to external system connections and third-party dependencies
3. Cloud Services Assessment: Specific risk considerations for cloud-based infrastructure and services
4. Data Protection Impact Assessment: Detailed assessment of data protection risks when system processes personal data
1. Risk Assessment Scoring Guide: Detailed methodology and criteria for risk scoring and evaluation
2. System Architecture Diagrams: Technical diagrams and documentation showing system components and connections
3. Control Framework Matrix: Comprehensive list of existing controls and their effectiveness ratings
4. Action Plan Template: Standardized template for documenting and tracking risk mitigation actions
5. Review Schedule: Timeline and requirements for periodic risk assessment reviews and updates
6. Compliance Requirements Checklist: Checklist of relevant regulatory and compliance requirements affecting the system
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