The U.S. Government’s transformation since the start of the second Trump administration compels a reassessment of how companies identify, prioritize and thwart compliance risk. This first article in a four-part series explores what risk assessments should look like in light of recent changes to the DOJ’s Evaluation of Corporate Compliance Programs, how to design an assessment to address rapidly changing risk environments and the importance of documenting the process. The second article will unpack the specific areas on which companies should focus when reassessing their risk. The third article will examine when and by whom compliance risk should be assessed; and the final article will address how the use of data and technology are reshaping risk assessments into more responsive tools for identifying and addressing uncertainty. See “A Quick-Start Guide to Risk Assessments” (Mar. 31, 2021).