Which of the following is NOT a component of an effective risk management framework?

An effective risk management framework comprises several critical components that are essential for identifying, assessing, and mitigating risks within an organization. Risk identification, risk assessment, and risk monitoring are foundational elements that help organizations recognize potential risks, evaluate their impact, and continuously oversee risk mitigation efforts.

Recruitment policies, however, are generally associated with human resources and are not inherently a part of a risk management framework. While having effective recruitment practices can contribute to managing human capital risk, they do not directly relate to the core functions of identifying, assessing, or monitoring risks as defined in traditional risk management structures. Therefore, selecting recruitment policies highlights a misunderstanding of the essential components that specifically constitute a risk management framework.