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Discover LudwigThe phrase "residual risk" is correct and usable in written English, and it is commonly used in business and legal contexts.
For example, "The company has taken steps to mitigate the risk of a data breach, but there is still a residual risk that one could occur."
Dictionary
residual risk
noun
The risk left over after safeguards (mitigation strategies) have been implemented.
Exact(59)
Still, there is a residual risk.
"But the government has no strategy to address this residual risk," Johns said.
Overall, any residual risk from e-cigarette use is orders of magnitude lower than smoking.
If the residual risk is acceptable, then an annual review may be sufficient.
Because stockholders guarantee the contracts of all constituents, they bear the corporation's residual risk.
Genetic counseling is important to adequately inform couples of their residual risk.
Nevertheless, directors and officers still face residual risk, in particular from litigation costs.
"There is a residual risk that some clients may opt to diversify their business away from BNP".
"There is a residual risk that some clients may opt to diversify their business away from BNP," he said.
This, of course, shifts the discussion to what level of residual risk is acceptable, depending on your company.
Although the identities of the bearers of residual risk may differ, all business organizations vest organizational control rights in them.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com