The key risk indicator (KRI) that would be of most interest to the CIO of a financial institution with a highly regarded reputation for protecting customer interests that has recently deployed a mobile payments program is the total volume of suspicious transactions. This KRI measures the number and value of transactions that are flagged as potentially fraudulent, malicious, or erroneous by the mobile payments system or by the customers.
This KRI reflects the level of security and reliability of the mobile payments program, as well as the customer trust and satisfaction. A high volume of suspicious transactions indicates a high risk of financial losses, reputational damage, regulatory penalties, and customer attrition for the financial institution. Therefore, the CIO should monitor this KRI closely and take appropriate actions to prevent or mitigate any incidents that may compromise the mobile payments program

A data steward is a subject matter expert who is responsible for defining and maintaining the integrity of a specific type of data or data domain1. They help the organization build data glossaries, create and maintain data quality rules, and determine who has access to data1. Data stewards also work closely with any system of record to ensure proper controls are in place and are maintained to ensure the data produced is of high quality2. Therefore, if the IT department has determined that problems with a business report are due to quality issues within a set of data, they should refer the matter to the data steward for resolution. References
:= CGEIT Review Manual, Chapter 3: Benefits Realization, Section 3.2: IT Value Delivery Processes, Subsection 3.2.4: Data Quality Management, Page 103.

According to the CGEIT exam guide, the IT strategy committee should ensure that the IT strategic plan is aligned with the business needs and goals of the enterprise. Therefore, before initiating the development of an IT strategic plan, the committee members should be apprised of the business needs and understand the expectations and requirements of the stakeholders. References: CGEIT Exam Candidate Guide, page
13. CGEIT Certification

The best action to address the situation of the risk committee being overwhelmed by the number of false positives in risk reports is to evaluate key risk indicators (KRIs). KRIs are metrics that measure the likelihood and impact of IT-related risks on the enterprise's objectives and goals. Evaluating KRIs can help the risk committee to identify and prioritize the most significant and relevant risks, as well as to adjust the thresholds or values that trigger the risk alerts or warnings. Evaluating KRIs can also help reduce the number of false positives, which are the cases where the risk reports indicate a high level of risk, but the actual risk is low or negligible. Reducing false positives can help improve the accuracy and reliability of risk reports, as well as save time and resources for the risk committee.
Conducting a risk assessment, changing the reporting format, and adjusting the IT balanced scorecard are also possible actions to take to address the situation of the risk committee being overwhelmed by false positives, but they are not the best action. Conducting a risk assessment is a process that involves identifying, analyzing, evaluating, and treating the IT risks that may affect the enterprise's objectives and operations. Conducting a risk assessment can help update and validate the risk information and data, as well as implement appropriate controls and mitigation strategies. However, conducting a risk assessment may not be sufficient or feasible to address the issue of false positives, as it may require a lot of time and effort, and it may not address the root causes of false positives, such as inaccurate or outdated KRIs. Changing the reporting format is a measure that involves modifying or improving the way that risk information and data are presented or communicated in risk reports. Changing the reporting format can help enhance and simplify the readability and usability of risk reports, as well as highlight or emphasize the key points or findings. However, changing the reporting format may not solve the problem of false positives, as it may only affect the appearance or style of risk reports, not their content or quality. Adjusting the IT balanced scorecard is a task that involves revising or updating the metrics that track the performance of IT in relation to the enterprise's vision, strategy, and goals. Adjusting the IT balanced scorecard can help evaluate and communicate the effectiveness and efficiency of IT operations, services, and projects, as well as their contribution to customer satisfaction, business value, and innovation. However, adjusting the IT balanced scorecard may not directly address the issue of false positives, as it may focus on different aspects or dimensions of IT performance than KRIs.

In a small, newly established organization, the foundation of IT governance lies in clearly defining roles and responsibilities to ensure accountability and decision-making clarity. The CGEIT Review Manual 8th Edition emphasizes that assigning roles and responsibilities is a critical first step in governance, especially for organizations with limited resources.
* Extract from CGEIT Review Manual 8th Edition (Domain 1: Governance of Enterprise IT):"In small or newly established organizations, the primary consideration for IT governance is to assign clear IT roles and responsibilities. This establishes accountability, clarifies decision-making authority, and lays the foundation for effective governance processes." (Approximate reference: Domain 1, Section on Governance Structure) Assigning IT roles and responsibilities (option D) ensures that the organization has a clear structure for IT decision-making, which is essential before addressing budgets, methodologies, or architectures.
* Why not the other options?
* A. Assigning a budget for IT governance applications: Budgeting is important but secondary to establishing governance roles, as roles define who manages the budget.
* B. Defining IT project management methodology: Methodologies are operational and follow the establishment of governance structures.
* C. Approving enterprise architecture (EA) and standards: EA is a subsequent step that requires governance roles to be in place for effective decision-making.
References:
ISACA CGEIT Review Manual 8th Edition, Domain 1: Governance of Enterprise IT, Section on Governance Roles and Responsibilities.
ISACA CGEIT Study Guide, Chapter on Governance in Small Organizations.