Risk register
A risk register is a centralized document or system used to identify, assess, and track risks that could impact an organization’s objectives, operations, or compliance posture.
What is a risk register?
A risk register, sometimes called a risk log, is a key component of enterprise risk management (ERM). It provides a structured approach to documenting potential risks, their likelihood, impact, and mitigation measures.
Each entry in a risk register typically includes a risk description, owner, rating, and status update, allowing organizations to monitor evolving threats and responses.
Risk registers support frameworks such as governance, risk, and compliance (GRC) and help organizations make informed decisions to strengthen resilience and accountability.
Why a risk register matters
A risk register is essential for proactive risk management and regulatory compliance. It helps organizations maintain visibility into internal and external threats—ranging from cybersecurity risks to financial, operational, or legal exposures.
By centralizing risk information, teams can prioritize mitigation strategies, assign ownership, and track progress over time.
Risk registers also support compliance with regulations and standards that require documented risk assessment processes, such as the Digital Operational Resilience Act (DORA), ISO 31000, and ISO/IEC 27001.
How a risk register is used in practice
- Identifying and recording potential business, compliance, or operational risks
- Assessing risk likelihood and impact through quantitative or qualitative methods
- Assigning risk ownership and tracking mitigation plans
- Reviewing and updating risks based on emerging trends or audit results
- Integrating the risk register with GRC or ERM platforms for centralized visibility
- Reporting risk metrics and summaries to leadership and regulatory bodies
Related laws & standards
- Digital Operational Resilience Act (DORA)
- ISO 31000 (Risk Management Framework)
- ISO/IEC 27001 (Information Security Management)
- Basel III Framework (Financial Risk Management)
- NIST Risk Management Framework (RMF)
How OneTrust helps with risk register management
OneTrust helps organizations maintain and automate risk registers by providing configurable workflows for risk identification, scoring, and mitigation tracking. The platform centralizes risk data, supports regulatory alignment, and enhances visibility across enterprise operations.
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FAQs about risk registers
A risk register typically includes risk descriptions, categories, likelihood and impact ratings, mitigation actions, and assigned owners. It can also track status updates and residual risk levels.
Risk registers are usually maintained by risk, compliance, or operations teams, with oversight from executive leadership to ensure accountability and resource allocation.
Risk registers should be reviewed regularly—quarterly or during key business changes—to ensure risks and mitigation strategies remain current.
