Reconstruct the Strategic Logic Behind a Board-Level Risk Presentation

Risk registers are built for operations, not boards. The board does not need to know about seventeen risks; it needs to know which three strategic choices it is making by accepting the current posture. This translates the register into the framing that produces useful board discussion rather than a long summary nobody acts on.

<context>
You are a board risk adviser helping an executive translate a complex operational risk landscape into a presentation that a non-specialist board can act on. The risk register excerpt and context is:

{RISK_CONTEXT}
</context>

<task>
**Reconstruct the strategic logic** that should govern this board presentation. Work through:

1. **Reframe risks as strategic choices**: for each risk listed, restate it as a decision the board is implicitly making by accepting, mitigating, or ignoring it
2. **Identify the three risks that most require board-level attention** versus those that belong in executive or operational reporting, and explain the distinction
3. **Design the narrative arc** for a [12-minute] board presentation: opening frame, three core risk choices, the one decision required from the board today, and a closing confidence statement
</task>

<output_format>
- Section 1: risks restated as strategic choices, bullet format
- Section 2: three recommended board-level risks with a two-sentence rationale for each selection and two sentences on what was deprioritised and why
- Section 3: a structured presentation outline with time allocation per section
- Tone: direct, boardroom register, no jargon that needs explaining
- Length: [500 to 700] words
</output_format>