There are many definitions – typically “the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events” (Bank of International Settlements re Basel ll.)
Overall, though, it's about making good decisions!

Relying on your own knowledge or asking those responsible for the risks and controls is limiting. Some may have a vested interest and Risk Management will not become embedded in a business. The ideal - asking lots of people - is easy with C360.

By getting everyone involved in the Risk Management process you will unearth the “Unknown unknowns” . And C360 is good at that.

You don’t. So do. And use C360 to make it easy.

By asking those who know, at whatever level in your organisation, who may know the weaknesses. And it is a lot easier if you use C360.