Using RACI Charts to Strengthen Risk Management and InfoSec Programs

Without defined roles, critical tasks like policy reviews, incident response, and business continuity planning, or risk assessments can be overlooked or delayed. A RACI chart (Responsible, Accountable, Consulted, Informed) is a powerful tool that helps assign responsibility and creates transparency—especially in high-stakes areas like information security.

What is a RACI Chart?

A RACI chart defines stakeholder roles for key tasks by assigning four distinct roles: Responsible, Accountable, Consulted, and Informed. The Responsible party is the one who does the work, while the Accountable person owns the outcome. Those labeled as Consulted provide input or expertise, and individuals marked as Informed need updates but are not directly involved in the task. This clear structure improves communication, streamlines collaboration, and helps prevent gaps in oversight.

Why Financial Institutions Need RACI Charts

Financial institutions are bound by stringent standards like GLBA, FFIEC, ISO 27001, and NIST CSF, all of which stress role clarity. A RACI chart helps institutions:

• Clarify who owns each step of critical information security processes
• Reduce delays and errors in the completion of tasks
• Enhance audit and regulatory readiness
• Strengthen collaboration between departments

When it comes to security, "someone should do it" isn't good enough. RACI eliminates ambiguity.

Utilizing the RACI Model in your Information Security Program

The RACI Model is a versatile and easy-to-apply tool. It can be utilized for simple tasks or complex processes with multiple steps. For straightforward tasks, like the information security policy example below, it quickly clarifies who is responsible for completing a specific action, who is accountable for its outcome, and who needs to be consulted or informed. For complex tasks, with multiple steps, like completing the Risk Assessment the RACI model helps break down each step and assigns roles across various individuals and/or departments.

Example: Information Security Policy RACI

The Responsible (R) party is the Information Security Analyst, who is tasked with writing the updated policy draft. Once the draft is complete, the Accountable (A) person, the CISO (Chief Information Security Officer), will review and approve the final version, taking ownership of the outcome.

The Consulted (C) roles are filled by the Legal and Risk teams. They provide valuable input to ensure the policy aligns with legal requirements and risk management strategies.

Finally, the Informed (I) individuals are the department heads, who are notified of the new policy but do not play a direct role in its creation.

Example: Risk Assessment RACI

This RACI setup helps ensure that the right people are performing the right tasks, avoiding confusion. The analyst does the work, the CISO ensures its correctness, the experts offer their insights, and the department heads are kept updated.

Benefits of Using RACI in Information Security

Financial institutions that use RACI charts in areas like policy management and risk assessments often benefit in several key ways. They experience improved accountability during audits and regulatory reviews, faster turnaround times for policy changes and assessments, and better cross-department alignment—particularly among Risk, Legal, and IT teams. Additionally, they see fewer missed steps in critical processes. A RACI chart isn’t just documentation; it’s a governance tool that brings clarity and consistency.

Need help mapping your information security responsibilities? Contact us to get a discussion started!