The document discusses establishing an effective technology risk management program with three key elements: 1) Begin with the desired outcomes in mind such as effective risk management, continuous compliance monitoring, and minimal business disruption. 2) Research applicable laws and regulations to understand technology and security control requirements and leverage existing frameworks to streamline compliance. 3) Establish standard processes, roles, and governance around risk management including standardized risk, control and issue tracking, approval workflows, and leadership reporting to ensure accountability.