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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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Chief Risk Officer Intro

Chief Risk Manager Intro.

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961 news items

 
Buffalo News
Fri, 22 Aug 2014 12:07:30 -0700

Financial Institutions, the Warsaw-based parent of Five Star Bank, is making a change at chief risk officer. The bank on Friday announced the departure of Kenneth W. Winn. David G. Case was appointed interim chief risk officer of the company, in ...
 
American Banker
Thu, 14 Aug 2014 07:15:00 -0700

Coules will be in charge of risk management across the entire $22 billion-asset company, overseeing compliance, credit risk, operational risk and analytics functions. Coules is taking over for Donald Geaslen, who became chief risk officer last August ...

Citizen

Citizen
Sun, 17 Aug 2014 03:07:30 -0700

No comment on Abil's former chief risk officer remarks. FILE PICTURE: Tami Sokutu, Executive Director at African Bank. (Photo by Gallo images / Financial Mail / Robert Tshabalala). Tom Winterboer, the curator handling African Bank Investments Limited ...
 
MarketWatch
Wed, 13 Aug 2014 08:33:45 -0700

"We are fortunate to have a professional of Blake's caliber on board as Chief Risk Officer," said Frank Holding, chairman and chief executive officer of First Citizens Bank. "His substantial expertise in risk and credit and his extensive leadership ...
 
THE BUSINESS TIMES (subscription)
Wed, 20 Aug 2014 12:52:30 -0700

AS RECENTLY as 10 years ago, many organisations considered the chief risk officer (CRO) as someone who was "good to have", and not a position that was critical to business strategy and framework. However, in the notoriously ever-changing world of the ...
 
MarketWatch
Mon, 04 Aug 2014 05:22:30 -0700

"Todd is perfectly suited to the responsibilities of the Chief Risk Officer, primarily due to his extensive experience dealing with RGA's financial reporting and capital management issues. He has also been intricately involved in new-transaction risk ...
 
InvestorDaily
Mon, 28 Jul 2014 23:00:00 -0700

ME Bank has appointed Carlo Cataldo as chief risk officer as part of its plans to capitalise on the new comprehensive credit reporting (CCR) regime in 2015. Mr Cataldo has 20 years of experience in senior risk roles, including six years at the consumer ...
 
Insurance News Net
Sun, 27 Jul 2014 22:03:45 -0700

According to the company, Dale will work with senior executives and other company stakeholders to build out the enterprise risk management function and framework for the company and its Sallie Mae Bank subsidiary. Earlier this year, Sallie Mae ...
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