Gartner Research

Essentials of Effective Risk Mitigation

Published: 30 April 2019

ID: G00707830

Analyst(s): Legal and Compliance Research Team

Summary

Legal leaders’ core mandate is to mitigate the organization’s risk exposure. This research helps legal leaders responsible for legal, compliance and privacy choose appropriate risk mitigation tools for identified risks and implement best-in-class risk mitigation plans that balance risk with reward.

Table Of Contents

Introduction

Table 1: Risk Mitigation Tools and Use Cases

Implementation Tips for Building Effective Risk Mitigation Plans

Training and Communications

Principle 1: Focus Training on Application of Key Principles, Not Just Awareness

Principle 2: Provide Interventions at Key Moments in Business Partners’ Careers

Principle 3: Use a Standard Agenda to Provide Real-Time Advice on Emerging Risks

Policies

Principle 4: Implement a Policy Governance Structure

Principle 5: Use Accessible Language and Learning Aids to Facilitate Comprehension

Controls

Principle 6: Build Controls Into High-Risk Business Processes and Systems

Third-Party Management

Principle 7: Get Involved Earlier to Reduce More Risk at Lower Cost

Principle 8: Drive Process Adherence by Reducing the Burden of Third-Party Risk Management

Conclusion

Recommended by the Authors

About This Research

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