The institution must maintain an appropriate, clear and concise risk appetite statement addressing its material risks, with the Board responsible for setting risk appetite and required to approve the statement.
What else in your programme already covers this
This control maps to 8 controls across 5 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.
NIST800-PM-28 Risk Framing. Identify and document: Assumptions affecting risk assessments, risk responses, and risk monitoring; Constraints affecting risk assessments, risk responses, and risk monitoring; Priorities and trade-offs considered by the organization for managing risk; and