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
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...
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...
Buffett Says "Chief Risk Officers" are a Terrible Mistake
One of the benefits of attending the Berkshire Hathaway (NYSE: BRK-B) shareholders' meeting is learning from the great value investors and Buffettologists wh...
Chief Risk Officer Interview at Risk & Regulation USA 2013
Interview with the panelists of the Chief Risk Officers Opening Panel Discussion at Risk & Regulation USA 2013 discussing the critical challenges, opportunit...
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...
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.
9th CRO Assembly - David Cole, Swiss Re Chief Risk Officer
Although we can't predict the future, we can prepare: resiliency, agility and awareness are just some of qualities we'll need. David Cole explains more at th...
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...
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...
Warren Buffett on Financial Bailouts: Chief Risk Officers, Incentives, CEOs, Debt Leverage
A bailout could be done for mere profit, as when a predatory investor resurrects a floundering company by buying its shares at fire-sale prices; for social i...
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 ...
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 ...
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 ...
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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