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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]


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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9620 news items

American Banker (subscription)

American Banker (subscription)
Tue, 30 Jun 2015 19:03:45 -0700

How Crisis Transformed the Bank Chief Risk Officer. by Joe Adler. JUN 30, 2015 10:00pm ET. A role many people did not understand less than a decade ago has become integral to how banks navigate a new set of postcrisis hazards. To continue, please ...

American Banker (subscription)

American Banker (subscription)
Tue, 30 Jun 2015 19:06:36 -0700

While hiring a chief risk officer is a given at the big banks, smaller institutions must weigh several factors and options in determining the risk leadership model that works for them. To continue, please sign in or subscribe. FREE 14-DAY. TRIAL. Full ...
Tue, 30 Jun 2015 19:03:45 -0700

Global alternative manager Mariner Investment Group announced it has appointed Dmitry Green as Chief Risk Officer. Green brings a record managing investment risk from a number of blue chip alternative investment firms, and joins Mariner from Saba ...

Post Online

Insurance Journal
Fri, 26 Jun 2015 05:22:30 -0700

In addition, Towergate announced that Sarah Dalgarno will be starting on September 4 as chief risk officer, subject to regulatory approval. Keith Jackson, who had postponed his planned 2014 departure to ensure an orderly handover, will leave following ...

Post Online

Post Online
Mon, 29 Jun 2015 19:03:45 -0700

Chief underwriting officer Eckart Roth will become chief risk officer at Hong Kong-headquartered reinsurer Peak Re on 1 July. Roth, pictured, has been working at the reinsurer building a team in property and casualty underwriting and analytics since ...
American Banker
Tue, 30 Jun 2015 19:03:05 -0700

The banking industry would scarcely need systemic risk regulation today if it had given the role of the chief risk officer its due in the years before the financial crisis. As Joe Adler reports in American Banker's latest C-Suite report, the CRO has ...

Insurance Age

Business Insurance
Fri, 05 Jun 2015 15:18:45 -0700

Arthur J. Gallagher, the international unit of Arthur J. Gallagher & Co., has named Michael Rea as its new chief operating officer and Carol Richmond as its new chief risk officer based in London, the brokerage said Friday. Ms. Richmond, who held the ...

Chief Investment Officer

Chief Investment Officer
Fri, 26 Jun 2015 03:07:30 -0700

Financial risk virtuoso Rick Bookstaber has signed on to become the inaugural chief risk officer to the $91 billion pension, endowment, and working capital fund. Bookstaber is to leave his post as a research principal at the Treasury Department's ...

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