Which of the following should a risk practitioner do FIRST to support the implementation of governance around organizational assets within an enterprise risk management (ERM) program?

Developing a detailed risk profile provides a holistic view of the organization's risk landscape, including risks associated with its assets, and establishes a baseline for risk governance. This foundational understanding is crucial before performing specific assessments or audits, as it informs where and how to focus governance efforts.

While experienced resources are important, developing an understanding of the risk landscape (risk profile) precedes staffing specific roles.

Audits assess compliance and effectiveness of controls, but a risk profile is needed first to define what aspects of risk require governance.

Conducting risk assessments is part of developing a risk profile, but the profile synthesizes these into a comprehensive view for governance.