Examples of managed device risk assessment are described. In one example, a copy of an application installed on a client device is decompiled, to identify operations performed during execution of the application. A profile including one or more rules that specify whether the operations are assigned higher or lower levels of risk is obtained. A first number of times that the first rule is violated by the operations is determined, and a second number of times that the second rule is violated by the operations is determined. A total of the violations is compared against a threshold, and a remedial action is initiated in response to determining that the total exceeds the threshold.