digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

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.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
620887 videos foundNext > 

The Banker Video Series: The Role of the Chief Risk Officer

The changing role of chief risk officers and how SAS® can help them reduce risk exposure while increasing profitability. For more insight on how companies ar...

Chief Risk Officer Interview at Risk & Regulation USA 2013

A summary of the critical challenges, opportunities and skillsets required by financial risk professionals discussed in the CRO Opening Panel at Risk & Regul...

9th CRO Assembly - Jo Oechslin, Group Chief Risk Officer, Munich Re

First innovate, then consolidate: that was one of the key messages about the state of risk management from Munich Re's Jo Oechslin, one of the participants o...

Pat Kirscht, Chief Risk Officer - Building a Strong Business

Role of CFO is becoming one of CRO, the Chief Risk Officer

Brief interaction with Sujit Sircar, CFO, iGATE Corporation, Bangalore (www.igate.com), May 21, 2009, 2.30 pm.

UBS Names Philip Lofts as Chief Risk Officer

Philip J. Lofts, CEO UBS Group Americas (NYSE:UBS), resumes his former role as UBS's Group Chief Risk Officer. Philip J. Lofts was Group CRO between November...

Interview with David Cadoux, AXA Group P&C Chief Risk Officer

In 2014, AXA asked c. 200 internal experts to determine which emerging risks would have the highest impact on the society at large in the next 5 to 10 year...

Chief Risk Officer, Luisa Evaristo Ice Bucket Challenge

We saw the news about a 12 year old boy name Baharudin Buhari who will be sitting for his UPSR in about two weeks, has been selling kuih door-to-door in Sung...

Managing Risk for Strategic Value and Competitive Advantage

Michael Hofmann, former chief risk officer of Koch Industries and board member of Calpine Corporation and the Global Association of Risk Professionals, and D...

Royce Questions Former MF Global Chief Risk Officer

Former MF Global Chief Risk Officer tells Rep. Royce that MF Global lacked the sufficient amount of capital and resources necessary for the strategy they wer...

620887 videos foundNext > 

867 news items

 
Wall Street Journal
Thu, 23 Oct 2014 07:30:14 -0700

Bank of New York Mellon Corp. has named a new chief risk officer to replace retiring Brian Rogan. James S. Wiener, the head of the North American Public Policy Practice of the Oliver Wyman Group, will lead the trust bank's global risk and compliance ...
 
National Business Review (subscription)
Thu, 23 Oct 2014 16:37:30 -0700

Heartland New Zealand [NZX: HNZ], the bank which formed after the merger of Canterbury and Southern Cross building societies and Marac Finance, has lost its chief risk officer Mark Mountcastle. Mountcastle has resigned after four years with the ...

ITWorld Canada

ITWorld Canada
Mon, 20 Oct 2014 08:11:26 -0700

“Something that important shouldn't be left to the techies.” says computer security prof and researcher. Organizations must take IT security away from the information technology department and put it in the hand of a chief risk officer if they want to ...

Rochester Democrat and Chronicle

Buffalo News
Thu, 09 Oct 2014 13:48:45 -0700

Five Star Bank's parent company named William L. Kreienberg as executive vice president, general counsel and chief risk officer. Kreienberg, a Rochester resident, is a partner at Harter Seacrest and Emery. He will retire from that role to take his ...
 
Reuters
Tue, 07 Oct 2014 01:22:32 -0700

LONDON Oct 7 (Reuters) - Insurance company RSA said on Tuesday it had appointed William McDonnell as group chief risk officer with effect from Dec. 1, 2014. McDonnell will replace David Weymouth, who retires in May 2015, RSA said in a statement.
 
Nasdaq
Thu, 30 Oct 2014 14:22:30 -0700

Mr. Fitz Gibbon joined the Company and the Bank in September, 2005 starting as Senior Vice President, Chief Financial Officer, Secretary and Treasurer and advancing to Executive Vice President, Chief Operating Officer, Chief Risk Officer, Secretary and ...
 
The Insurance Insider (subscription)
Tue, 07 Oct 2014 01:26:15 -0700

Global insurer RSA has promoted its group risk director William McDonnell to group chief risk officer, with effect from 1 December. McDonnell's appointment comes in the wake of the retirement of existing group chief risk officer David Weymouth ...
 
American Banker (subscription)
Thu, 02 Oct 2014 07:40:35 -0700

United Community Banks in Blairsville, Ga., has announced a series of executive changes following the retirement of its chief risk officer. David Shearrow will retire from the $7.4 billion-asset company on Jan. 31. As part of his retirement, United ...
Loading

Oops, we seem to be having trouble contacting Twitter

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!

Searchlight Group

Digplanet also receives support from Searchlight Group. Visit Searchlight