President Obama's November 2011 memorandum on managing government records directly affects US federal government agencies and will ultimately have significant impact on enterprises in a variety of vertical markets. In response, security and risk (S&R) leaders should refocus attention on records management (RM) programs and be prepared to take strategic steps stemming from an RM directive anticipated this summer. In making these RM plans, S&R leaders should factor in how to improve eDiscovery processes and monitor cloud-based RM applications as they mature.