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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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1257 news items

Businessweek

Business First of Buffalo
Thu, 18 Sep 2014 05:00:00 -0700

Donald Truslow will continue to work at M&T on a part-time basis, but the job of chief risk officer now belongs to Richard Gold, who has also been named vice chairman of the bank, according to a release. Gold has more than 25 years of experience at M&T ...
 
Buffalo News
Fri, 22 Aug 2014 12:15:09 -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 ...
 
Business Wire (press release)
Thu, 11 Sep 2014 05:56:15 -0700

PORTLAND, Maine--(BUSINESS WIRE)--CashStar, the digital gifting company preferred by the world's leading brands, today announced that its Chief Risk Officer, Pete Kledaras, will lead a session at the Fraud Force Summit 2014 titled, “Fighting False Fraud.
 
Virtual-Strategy Magazine (press release)
Thu, 18 Sep 2014 00:07:30 -0700

LiftForward, Inc. (“LiftForward”) today announced the hire of Christine Reilly as the LiftForward's Chief Risk Officer. Ms. Reilly has more than thirty years of experience in the financial services industry including nearly 6 years as the President of ...
 
Columbus Ledger-Enquirer
Sat, 06 Sep 2014 13:26:15 -0700

The Columbus-based firm said he will report to J. Todd Daniels, global chief risk officer. Raghunathan will be responsible for identifying and assessing investment risks in an evolving regulatory environment while developing strategies to address those ...

Risk.net

Risk.net
Mon, 15 Sep 2014 09:31:05 -0700

Federal regulation of systemically important insurers has played a vital role in eliminating blindspots in the US supervisory regime, which exacerbated the financial crisis, according to AIG's chief risk officer. Related articles ...
 
London South East
Tue, 09 Sep 2014 09:07:30 -0700

LONDON (Alliance News) - Friends Life Group Ltd Tuesday said that Chief Executive Andy Briggs and Chief Risk Officer Rosie Harris purchased 42 and 41 shares, respectively, via a share incentive plan for GBP3.027 per share on Monday. Briggs now holds ...
 
SYS-CON Media (press release)
Mon, 08 Sep 2014 05:56:15 -0700

CashStar, the digital gifting company preferred by the world's leading brands, today announced that its Chief Risk Officer, Pete Kledaras, will lead a session at the CFO Risk Management Summit titled, “Reclaim Lost Revenue Caused by Excessive Risk ...
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