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.
The Rise of the CRO in Executive Middle East Magazine, http://www.executive-magazine.com/getarticle.php?article=14802
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securities lending times
GlobeNewswire (press release)
Tue, 20 Jan 2015 09:03:45 -0800
CHICAGO, Ill, Jan. 20, 2015 (GLOBE NEWSWIRE) -- via PRWEB - OCC announced today that John Grace has joined OCC as Executive Vice President and Chief Risk Officer. He will be responsible for driving and implementing OCC's risk management ...
Fri, 02 Jan 2015 13:39:14 -0800
A Treasury memo dated September 2013 and obtained by Bloomberg News said the department intended to hire a chief risk officer to “provide permanent financial risk-management expertise.” The department has assumed responsibility for taxpayer rescues ...
Wall Street Journal (blog)
Business Wire (press release)
Tue, 06 Jan 2015 07:45:00 -0800
NEW YORK--(BUSINESS WIRE)--Fitch Group has announced the appointment of John Olert as Group Chief Risk Officer, effective immediately. A global leader in financial information services, Fitch Group is pursuing a more holistic and integrated approach to ...
Thu, 08 Jan 2015 00:26:15 -0800
Standard Chartered PLC "the Group" is announcing the retirement of Richard Goulding as Chief Risk Officer and Jan Verplancke as Chief Information Officer and Group Head of Technology and Operations from the Group, and as Directors of the Court of ...
Virtual Press Office (press release)
Fri, 09 Jan 2015 10:45:00 -0800
TORONTO, Jan. 9, 2015 /CNW/ - Home Capital Group Inc. (TSX:HCG) today announced that Gregory W. Parker has been appointed as Executive Vice President and Chief Risk Officer of Home Capital and its wholly owned subsidiary, Home Trust Company, ...
Thu, 01 Jan 2015 00:18:25 -0800
The appointment of an Omani woman as a chief risk officer is a first in Oman's banking industry. This announcement is part of the bank's succession plan for senior executives and commitment to supporting Omani talent and empowering women to take up ...
Mon, 26 Jan 2015 04:11:15 -0800
Peter takes up the new Executive Director role from his existing position as Chief Risk Officer at GIB. He will join chief executive Shaun Kingsbury as the only other Executive Director on GIB's independent board. GIB is now recruiting for a new Chief ...
Tue, 27 Jan 2015 07:00:00 -0800
Our participants today will be Harris Simmons, Chairman and Chief Executive Officer; Doyle Arnold, Vice Chairman and Chief Financial Officer; Scott McLean, President; and Ed Schreiber, Chief Risk Officer; and Michael Morris, Chief Credit Officer. I'd ...
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