Risk owner
A risk owner is the person or role accountable for monitoring a particular risk and ensuring that an appropriate response is developed, implemented and reviewed. Ownership should come with suitable authority, information and escalation routes. It does not mean that one person performs every control or can guarantee the outcome.
Worked example
The procurement director owns the risk of sole-source supplier failure, while operations staff perform stock checks and the risk team monitors reporting consistency.
Common mistake
Naming someone in a register without giving them authority to act, or transferring all accountability to the risk department.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | SBL | Supporting | September 2026–June 2027 |