Cyber Risk Management involves identifying, assessing, and mitigating potential risks to an organization's information systems and digital assets. It focuses on protecting against cyber threats like data breaches, cyberattacks, and system vulnerabilities that can lead to financial loss, reputation damage, or regulatory penalties. This process includes implementing security controls, conducting regular risk assessments, developing incident response plans, and continuously monitoring evolving cyber threats to ensure the organization's resilience in a digitally connected world.