Which of the following individuals is responsible for identifying process requirements, approving process design and managing process performance? 

Answer options:

A. Business process owner
B. Risk owner
C. Chief financial officer
D. Chief information officer

A

Business process owners are the individuals responsible for identifying process requirements, approving process design and managing process performance. In general, a business process owner must be at an appropriately high level in the enterprise and have authority to commit resources to process-specific risk management activities. Incorrect Answers: B: Risk owner for each risk should be the person who has the most influence over its outcome. Selecting the risk owner thus usually involves considering the source of risk and identifying the person who is best placed to understand and implement what needs to be done. C: Chief financial officer is the most senior official of the enterprise who is accountable for financial planning, record keeping, investor relations and financial risks. D: Chief information officer is the most senior official of the enterprise who is accountable for IT advocacy; aligning IT and business strategies; and planning, resourcing and managing the delivery of IT services and information and the deployment of associated human resources.