The risk of terminated employee accounts maintaining access is that the former employees or unauthorized parties may use the accounts to access or manipulate the organization's information systems or resources, and cause harm or damage to the organization and its stakeholders, such as data loss, data breach, system failure, fraud, etc.
The first step to address the risk of terminated employee accounts maintaining access is to disable user access, which means to revoke or remove the permissions or privileges that allow the accounts to access or use the organization's information systems or resources. Disabling user access can help the organization to address the risk by providing the following benefits:
It can prevent or stop the former employees or unauthorized parties from accessing or using the organization's information systems or resources, and reduce or eliminate the potential harm or damage that they may cause for the organization and its stakeholders.
It can ensure the confidentiality, integrity, availability, and reliability of the organization's information systems or resources, and protect them from unauthorized access or manipulation.
It can provide useful evidence and records for the verification and validation of the organization's access control function, and for the compliance with the organization's access control policies and standards.
The other options are not the first steps to address the risk of terminated employee accounts maintaining access, because they do not provide the same level of urgency and effectiveness that disabling user access provides, and they may not be sufficient or appropriate to address the risk.
Performing a risk assessment is a process of measuring and comparing the likelihood and impact of various risk scenarios, and prioritizing them based on their significance and urgency. Performing a risk assessment can help the organization to understand and document the risk of terminated employee accounts maintaining access, but it is not the first step to address the risk, because it does not prevent or stop the former employees or unauthorized parties from accessing or using the organization's information systems or resources, and it may not be timely or feasible to perform a risk assessment before disabling user access.
Developing an access control policy is a process of defining and describing the rules or guidelines that specify the expectations and requirements for the organization's access control function, such as who can access what, when, how, and why. Developing an access control policy can help the organization to establish and communicate the boundaries and objectives for the organization's access control function, but it is not the first step to address the risk, because it does not prevent or stop the former employees or unauthorized parties from accessing or using the organization's information systems or resources, and it may not be relevant or applicable to the existing or emerging risk scenarios that may affect the organization's access control function.
Performing a root cause analysis is a process of identifying and understanding the underlying or fundamental causes or factors that contribute to or result in a problem or incident that has occurred or may occur in the organization. Performing a root cause analysis can help the organization to address and correct the risk of terminated employee accounts maintaining access, and prevent or reduce its recurrence or impact, but it is not the first step to address the risk, because it does not prevent or stop the former employees or unauthorized parties from accessing or using the organization's information systems or resources, and it may not be timely or feasible to perform a root cause analysis before disabling user access. References = ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 40-41, 47-48, 54-55, 58-59, 62-63 ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 207 CRISC Practice Quiz and Exam Prep

IT capacity is the ability of an IT system or network to handle the current and future workload and performance demands. IT capacity can be affected by various factors, such as the number and type of users, applications, devices, data, transactions, etc. IT capacity management is the process of planning, monitoring, and optimizing the IT resources to ensure that they meet the business needs and objectives. IT capacity management can help prevent issues such as system slowdowns, outages, errors, or failures, and improve the efficiency, reliability, and security of the IT system or network. One of the IT key risk indicators (KRIs) that provides management with the best feedback on IT capacity is the trends in IT resource usage. IT resource usage is the measure of how much of the IT resources, such as CPU, memory, disk, bandwidth, etc., are being consumed by the IT system or network. Trends in IT resource usage can help monitor and analyze the changes in the IT capacity over time, and identify the patterns, peaks, and bottlenecks in the IT resource consumption. Trends in IT resource usage can also help forecast the future IT capacity requirements, and plan for the appropriate IT resource allocation, optimization, or expansion. Trends in IT resource usage can provide management with valuable information on the current and potential IT capacity risks, and support the decision making and risk response for IT capacity management. References = Integrating KRIs and KPIs for Effective Technology Risk Management, p. 3-4.

According to the 10 Tips for Secure Online Transactions - SmartAsset article, multi-factor authentication is a security measure that requires users to provide more than one piece of evidence to verify their identity when logging in to an online account. For example, users may need to enter a password and a code sent to their phone or email, or use a biometric feature such as a fingerprint or a face scan. Multi-factor authentication can help secure online financial transactions from improper users, as it makes it harder for hackers to access the account even if they have the password. Multi-factor authentication can also alert users to any suspicious login attempts and prevent unauthorized transactions. References = 10 Tips for Secure Online Transactions - SmartAsset

A risk owner should be the person accountable for the business process that is affected by the risk, as they have the authority, responsibility, and knowledge to manage the risk effectively. The risk owner should collaborate with the risk practitioner, who facilitates the risk management process, and the risk action owners, who implement the risk response actions. The risk owner should also ensure that the controls are adequate and functioning properly to mitigate the risk. The other options are not the best description of what a risk owner should be accountable for, as they are either too broad (the risk management process), too narrow (managing controls or implementing actions), or not directly related to the risk (the business process). References = Why Assigning a Risk Owner is Important and How to Do It Right; Definition of Risk Owner; What Is a Risk Owner in Project Management?

The best course of action for the risk practitioner is to follow the incident reporting procedures established by the organization. This will ensure that the incident is properly documented, escalated, and resolved in a timely and consistent manner. Reporting the incident to the chief risk officer, advising the employee to forward the email to the phishing team, or advising the employee to permanently delete the email are not the best courses of action, as they may not comply with the organization's policies and standards, and may not address the root cause and impact of the incident. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.2.2.1, page 193.