In today’s digital landscape, enterprises face diverse digital risks threatening their strategic and operational resilience. Effective digital risk management requires integrating business and technology strategies to identify, assess, and prioritize risks, including cybersecurity threats and data privacy concerns. Organizations are shifting from compliance-based to risk-based approaches, focusing on risk quantification, collaborative management, and empirical risk-sharing models. This comprehensive playbook guides enterprises in modernizing cyber-risk strategies, fostering collaboration between business and technology teams, and enhancing resilience against digital threats for sustainable growth.