Concerning Findings for CIO from Internal Auditor Assessment of IT Risk Management Program.

D.

Sure, I can provide a detailed explanation for each of the options and help you identify which finding should be of MOST concern to the CIO in this scenario.

A. Organizational responsibility for IT risk management is not clearly defined: This finding implies that there is confusion or ambiguity regarding who is responsible for managing IT risks in the organization. This can lead to gaps or overlaps in the IT risk management process, which can increase the likelihood of IT-related incidents or failures. While this is an important finding, it may not be of the MOST concern to the CIO if there are other processes in place that effectively manage IT risks.

B. IT risk training records are not properly retained in accordance with established schedules: This finding suggests that the organization is not following established procedures for maintaining IT risk training records, which can create compliance issues or hinder the ability to demonstrate due diligence in the event of an IT-related incident. While this is also an important finding, it may not be of the MOST concern to the CIO if there are no legal or regulatory requirements that mandate strict adherence to training record retention schedules.

C. None of the members of the IT risk management team have risk management-related certifications: This finding indicates that the IT risk management team lacks formal training or credentials in risk management, which can limit their ability to effectively identify and mitigate IT risks. This is a concerning finding as it may indicate a skills gap within the IT risk management team, which could compromise the effectiveness of the overall IT risk management program.

D. Only a few key risk indicators identified by the IT risk management team are being monitored and the rest will be on a phased schedule: This finding suggests that the IT risk management team is not monitoring all relevant IT risk indicators in a timely manner, which can increase the organization's exposure to IT-related risks. This finding is also concerning as it may indicate a lack of priority or urgency in addressing IT risks.

In conclusion, while all of the findings are important to consider, option C, "None of the members of the IT risk management team have risk management-related certifications," should be of MOST concern to the CIO. This is because it may indicate a lack of the necessary skills and expertise needed to effectively manage IT risks, which can lead to a higher likelihood of IT-related incidents or failures. The other findings, while also important, may be more easily addressed through procedural improvements or training initiatives.