Two major risks, A and B, have been identified by you and your risk team A detailed risk evaluation has taken place that quantifies these totally different risks as pretty much equal (both have an Impact of 4 on a 1 5 scale both have a Probability of 5 on a 1 5 scale resulting in an inherent risk score of 4 x 5 20 in each case) You have determined that the Speed of Onset is different for A than it is for B, and as a result, you may need to manage these risks differently, despite their identical risk scores Get creative and tell the story, making it meaningful and reasonable in risk management terms What does the firm do that would make these risks relevant (Make it up) What are those two risks, A and B, that the firm is susceptible to, and equate to the same risk score, having equal Impact and equal Probability (Make them up, but make it viable) How do these risks differ in terms of Speed of Onset (Speed of Onset can't be the same to do this assignment effectively) How does that Speed of Onset difference manifest itself in your process for managing the risks What risk management activities would be consistent or the same (Speed of Onset does not matter) What risk management activities would be different (Speed of Onset does matter) How does the use of Detective, Preventative and Corrective controls differ based on the Speed of Onset How are they the same Please give examples What are those two risks, A and B, that the firm is susceptible to, and equate to the same risk score, having equal Impact and equal Probability (Make them up, but make it viable) How do these risks differ in terms of Speed of Onset (Speed of Onset can't be the same to do this assignment effectively) How does that Speed of Onset difference manifest itself in your process for managing the risks What risk management activities would be consistent or the same (Speed of Onset does not matter) What risk management activities would be different (Speed of Onset does matter) 5 5 How does the use of Detective, Preventative and Corrective controls differ based on the Speed of Onset How are they the same Please give examples

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Two major risks, A and B, have been identified by you and your risk team. A detailed risk evaluation has taken place that quantifies these

Two major risks, A and B, have been identified by you and your risk team. A detailed risk evaluation has taken place that quantifies these totally different risks as pretty much equal (both have an Impact of 4 on a 1 - 5 scale; both have a Probability of 5 on a 1 - 5 scale resulting in an inherent risk score of 4 x 5 = 20 in each case).

You have determined that the Speed of Onset is different for A than it is for B, and as a result, you may need to manage these risks differently, despite their identical risk scores.

Get creative and tell the story, making it meaningful and reasonable in risk management terms:

What does the firm do that would make these risks relevant (Make it up).
What are those two risks, A and B, that the firm is susceptible to, and equate to the same risk score, having equal Impact and equal Probability? (Make them up, but make it viable).
How do these risks differ in terms of Speed of Onset? (Speed of Onset can't be the same to do this assignment effectively).
How does that Speed of Onset difference manifest itself in your process for managing the risks?
- What risk management activities would be consistent or the same (Speed of Onset does not matter)
- What risk management activities would be different (Speed of Onset does matter)?
How does the use of Detective, Preventative and Corrective controls differ based on the Speed of Onset? How are they the same? Please give examples.
What are those two risks, A and B, that the firm is susceptible to, and equate to the same risk score, having equal Impact and equal Probability? (Make them up, but make it viable).
How do these risks differ in terms of Speed of Onset? (Speed of Onset can't be the same to do this assignment effectively).
How does that Speed of Onset difference manifest itself in your process for managing the risks?

- What risk management activities would be consistent or the same (Speed of Onset does not matter)
- What risk management activities would be different (Speed of Onset does matter)?5

5. How does the use of Detective, Preventative and Corrective controls differ based on the Speed of Onset? How are they the same? Please give examples.