The control model for Category $3$ Risks: External Risk includes the following:

Envisioning" risks through:

Tail$-$risk assessments and stress testing

Scenario planning

War$-$gaming

Interactive discussions about risks to strategic objectives, drawing on tools such as:

Maps of likelihood and impact of identified risks

Key risk indicator $($KRI$)$ scorecards

Resource allocation to mitigate critical risk events

Integrated culture$-$and$-$compliance model:

Develop mission statement; values and belief systems; rules and boundary systems; standard procedures; internal controls and internal audit