Effective incident response requires a well-structured team with clearly defined roles and responsibilities. Key roles in an incident response team include the incident lead, communication coordinators, accountable executive, and legal support. Best practices for building an incident response team involve developing an incident response policy, assembling a diverse team, providing training and development, establishing clear communication protocols, defining metrics and KPIs, fostering a culture of awareness, collaborating with external partners, and continuously reviewing and updating the incident response plan. A dedicated incident management tool can greatly enhance collaboration and efficiency within an incident response team.