Risk Management and Risk Register

ISMS Copilot maintains a comprehensive risk register to identify, assess, and mitigate risks across our operations. Our risk management approach follows industry best practices aligned with ISO 27001, SOC 2, and NIST frameworks.

Risk Categories

We organize risks into four primary categories:

• Security Risks — Threats to data confidentiality, integrity, and availability including access controls, encryption, and infrastructure security

• Operational Risks — Service continuity threats such as third-party dependencies, infrastructure failures, and capacity issues

• Compliance Risks — Regulatory and legal obligations including GDPR, data residency, and industry certifications

• AI-Specific Risks — Unique challenges related to our AI platform including model accuracy, prompt injection, and AI training data governance

Risk Assessment Methodology

Each identified risk is evaluated using a structured approach:

• Likelihood — Scored 1-5 based on probability of occurrence

• Impact — Scored 1-5 based on potential business and customer consequences

• Risk Score — Calculated as likelihood × impact (1-25 scale)

• Severity Classification — Critical (20-25), High (15-19), Medium (10-14), Low (5-9), Minimal (1-4)

Risk Mitigation and Controls

For each risk, we document:

• Specific mitigation strategies and timelines

• Technical and administrative controls in place

• Assigned risk owner responsible for monitoring

• Review dates and status tracking (Open, Mitigating, Accepted, Resolved)

Our risk register integrates with our broader ISMS documentation including change management, incident response, and security policies to ensure comprehensive coverage.

Review and Updates

Risks are reviewed on scheduled cycles based on severity and changing threat landscapes. New risks are added as our product evolves, particularly for AI-specific concerns unique to our compliance automation platform.