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The chief risk officer (CRO) or chief risk management officer (CRMO) of a corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various segments. Risks are commonly categorized as strategic, reputational, operational, financial, or compliance-related. CRO's are accountable to the Executive Committee and The Board for enabling the business to balance risk and reward. In more complex organizations, they are generally responsible for coordinating the organization's Enterprise Risk Management (ERM) approach.

The position became more common after the Basel Accord, the Sarbanes-Oxley Act, the Turnbull Report

A main priority for the CRO is to ensure that the organisation is in full compliance with applicable regulations (chief compliance officer). They may also deal with topics regarding insurance, internal auditing, corporate investigations, fraud, and information security. CRO's typically have post-graduate education and 20+ years of business experience, with actuarial, accounting, economics, and legal backgrounds common.

External links[edit]

References[edit]

The Rise of the CRO in Executive Middle East Magazine, http://www.executive-magazine.com/getarticle.php?article=14802



Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Chief_risk_officer — Please support Wikipedia.
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8674 news items

OctaFinance.com

OctaFinance.com
Tue, 26 May 2015 16:15:00 -0700

Bradford Hu, the CHIEF RISK OFFICER of Citigroup Inc (NYSE:C) 54.24 -0.73 -1.33% made insider sale of 9,742 shares with an average stock price per share of $54.9 in the stock exchange listed company, that are having a value of $534,544 U.S Dollars.

HedgeWeek

Pensions & Investments
Tue, 19 May 2015 13:03:45 -0700

Sunil Gaglani was named chief risk officer of Investcorp's hedge fund business, a spokeswoman said. Related Content. Investcorp names business development director for hedge fund strategies · Investcorp chooses co-head of fundamental strategies in ...

HousingWire

HousingWire
Fri, 01 May 2015 11:22:30 -0700

Mortgage Guaranty Insurance Corporation, the principal subsidiary of MGIC Investment Corporation (MTG), announced the hiring of Stephen Mackey. Mackey will serve as MGIC's executive vice president – chief risk officer, replacing the retiring Lawrence ...

Citywire.co.uk

MarketWatch
Tue, 12 May 2015 01:48:45 -0700

Mr. Bouée will step down from the board on May 31, but will continue as chief risk officer until June 30 to assist with the transition process, Prudential said. He joined Prudential in 2008 and served in a variety of group leadership roles before being ...

Business Wire (press release)

Business Wire (press release)
Wed, 29 Apr 2015 13:03:45 -0700

“A chief risk officer has become a best practice for companies looking to create shareholder value by taking a holistic look at challenges and opportunities across the entire business,” said Todd Davis, chief executive officer of LifeLock. Davis ...
 
StreetInsider.com
Mon, 11 May 2015 07:15:00 -0700

Mark Bemis, senior vice president and president, North America, has been named to the additional role of chief risk officer, and Chris Cuddy, president of ADM's Corn Processing business unit, has been named a senior vice president of the company.
 
Reuters
Tue, 12 May 2015 01:32:44 -0700

Bouée will step down from board on May 31 2015, but will continue as chief risk officer until June 30 2015 to assist with transition process. * Replacement for Mr Bouée will be announced in due course Source text for Eikon: Further company coverage: ...

OctaFinance.com

OctaFinance.com
Fri, 15 May 2015 15:41:15 -0700

The EVP/Chief Risk Officer of Northern Trust Corporation (NASDAQ:NTRS) 75.56 -0.47 -0.62% , Jeffrey Cohodes has made a sudden sale in the -listed company that is having a total value $2,612,737 U.S Dollars. As discovered in the Washington-based ...
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