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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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MyNewsLA.com

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Mon, 15 Dec 2014 12:37:30 -0800

Los Angeles Superior Court Judge Richard Fruin said there are not enough details in ex-LAUSD chief risk officer Gregg Breed's complaint to support all of his allegations, particularly in the areas of retaliation, breach of contract and unjust enrichment.
 
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Wed, 26 Nov 2014 07:11:15 -0800

Two Harbors Investment Corp. announced today that there will be changes to the key management position of Chief Risk Officer, effective January 1, 2015. While I did not predict that this management change would occur, I am very pleased with the choice ...
 
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Thu, 11 Dec 2014 01:56:15 -0800

Therefore, moves at the top of the tree are now significant and the latest investment bank to hire in a new risk head is Morgan Stanley. Lee Guy, who spent 10 years working for Barclays' investment bank, joined Morgan Stanley as chief risk officer for ...
 
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Thu, 04 Dec 2014 01:33:45 -0800

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Thu, 04 Dec 2014 03:15:00 -0800

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U-T San Diego

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Sat, 20 Dec 2014 16:56:15 -0800

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Citywire.co.uk

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Thu, 27 Nov 2014 02:03:06 -0800

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