Overview

Introduction

Risk management is the process of identifying, evaluating, and addressing potential risks to minimise their impact on business operations. It is a critical requirement across most security compliance frameworks and helps organisations make informed decisions in the face of uncertainty.

Sprinto’s built-in Risk Management module simplifies this process through intuitive workflows, pre-defined libraries, and actionable insights—ensuring a streamlined and compliant experience.

Why It’s Important

Having a robust risk management system in place is one of the most common requirements across all major security compliance frameworks.

From a security compliance perspective, the risk management workflow includes:

• Risk Registration: Analyse and define the organisation’s risk profile, along with mitigation plans, to reduce the overall impact and likelihood of risks.

• Risk Assessment: Periodically evaluate the risk profile to identify updates driven by changes in regulations, business operations, or the threat landscape. This ensures that the risk profile evolves with the organisation’s growth and transformation.

How Sprinto Manages Risk Management

Sprinto is the perfect partner for your security compliance journey. With its built-in capabilities, managing the often tedious task of risk management becomes significantly easier.

• Risk Library: Use Sprinto’s curated risk library to bootstrap your risk register. It includes a wide range of industry-standard risks.

• System Check: Sprinto automatically monitors for incomplete risk assessments and alerts users to take timely action.

• Automatic Evidence Collection: Every activity in the Risk Management module is backed by auto-collected, audit-ready evidence.

• Graphical Representation: Risk data is presented using intuitive graphs and visuals to help you identify trends and prioritise actions.

• Uploading Risk Assessment: Already have a risk assessment prepared externally? Simply upload it to Sprinto’s platform to complete your compliance requirements without disruption.

Getting Started

Begin your risk management journey by registering risks on Sprinto. This process includes analysing and defining relevant risks using configurable risk parameters, followed by detailing mitigation plans.

You can register risks using the following methods:

• Select from Sprinto’s predefined Risk Library.

• Add Custom Risks manually that are specific to your organisation.

• Use the CSV Bulk Upload option for importing risks at scale.

All registered risks are then visualised on the dashboard for a clearer understanding of your risk landscape.

You can mix and match registration methods. While the risk library is recommended for ease of use, custom risk registration is available as needed.

Related User Guides

• How to Register Risk With Risk Library

• How to Register Risk Manually

Managing Risk Management

Risk assessment is a continuous process of evaluating your organisation's risk profile, accounting for any operational, structural, or regulatory changes.

Areas to focus on include:

• Risk Parameters: Review and update risk attributes to reflect recent organisational changes.

• Registering New Risks: As your organisation scales, new risks emerge. Make sure these are captured and addressed.

• Registering Custom Risks: If standard categories are insufficient, define and register risks that are unique to your business.

Importance of Risk Assessment

Regular assessments ensure your risk register evolves with your organisation. This is a standard requirement across most security compliance frameworks. An outdated risk profile can lead to blind spots and compliance gaps.

Risk Assessment Cycle

1. Risk Assessment: Periodic review and updating of registered risks.

2. Risk Assessment Review: Senior management reviews the assessment to ensure accuracy and coverage. This is the final step before the system marks the assessment as complete.

Sprinto recommends conducting a risk assessment at least once every year.

Use Cases

Use Case	Description
Initial Risk Register Setup	Use the risk library or bulk upload to build your organisation's first risk register.
Annual Compliance Audit	Perform yearly assessments and reviews to meet SOC 2, ISO 27001, or GDPR requirements.
Business Expansion Risk Review	Update risk parameters when entering new markets or launching new services.
Vendor Risk Management	Track and mitigate risks associated with third-party vendors.
Custom Risk Scenarios	Define and manage unique risks specific to your operations or industry.