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Risk Escalation and/or Acceptance is the sixth section of Pre-Contract Due Diligence and a key decision point in the TPRM lifecycle. In this video, TPRA walks through the processes of escalating unresolved risks, determining if exceptions are warranted, and ensuring accountability when accepting residual risks.
Key features include:
Governance and approval workflows for risk acceptance
Exception management criteria and documentation
How to involve senior leadership or risk committees
Balancing business needs with regulatory and ethical obligations
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