The Risky Knowledge

According to Framework for Identification and Reporting of Risk Incidents (FIRRI), the occurrence of Risk Incident is due to:

• Inadequate/Ineffective monitoring/ Supervision

• External factors

• Failure or absence of controls

• Errors/Mistakes/Oversight 

In the Framework for Identification and Reporting of Risk Incidents, R-Matrix has been introduced for reporting of which type of Incidents:

• Business Disruption Impact for External Stakeholders

• Internal Business Disruption with regard to General Maintenance, Facilities, and Information Technology issues

• Breach of RTLs

• Physical Security Threats

Which of the following is not part of the Risk Register:

• Control Design Gap

• Principal Risk Level-II

• Risk Description

• Risk Tolerance Limits

Incident Reporting and formulation and review of Risk Registers is being done through the IRIS Portal which is available on the Ekamev application. What is the full form of the IRIS portal:

• Incident Reporting Interactive Software

•   Integrated Risk Incident Reporting Software

• Integrated Risk Management and Incident Reporting Solution

• Integrated Risk Monitoring and Incident Reporting System

The Information Security (IS) policy of the Bank is applicable to all the employees. In addition, identify from the following to which the IS Policy is applicable-

• Vendors / Contractors / Support Staff

• Ex-employees

• Only (i)

• Both (i) and (ii)

As per the IS policy of the Bank, can open-source software be used for software projects:

• No

• Yes, with approval of DIT, CO

• Yes, with approval of CISO

• Yes, can be used as per the requirement of the BA without any approval

What are the two types of outsourcing as defined in the Enterprise-wide Outsourcing Risk Management Policy (EORMP):

• IT and Non-IT

• Confidential and General

• Material and General

• Core and Non-Core

As per the Framework for Identification and Reporting of Risk Incidents, who is the approving authority for High-Risk Incidents:

•   Senior Risk Officer

• Head of the Department / Regional Director

• ERM Cell

• Divisional In-Charge (CODs) / Department Head (ROs)

What are the three tiers of the Risk Management Structure / Three lines of defence in the Bank:

• Business Area, RMD, Inspection Department

• RO, COD, RMD

•   Division, Department, HoD

• COD, Inspection Department, Top Management

Materialization of risk can have _____ impacts. They are ________?

• 2, Financial Impact and Reputation Impact

•   3, Financial Impact,  Business Disruption and Reputation Impact

•   3, Financial Impact, Policy Impact and BCM

• 3, Business Disruption, Process Impact and Reputation Impact