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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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GlobeNewswire (press release)
Tue, 03 Mar 2015 07:00:00 -0800

LEWISTON, Maine, March 3, 2015 (GLOBE NEWSWIRE) -- Northeast Bancorp (the "Company") announced today that Brian Pinheiro has been appointed as the Company's Chief Risk Officer, effective March 3, 2015. Mr. Pinheiro joins the Company from ...


Tue, 03 Mar 2015 00:26:15 -0800

Chicago-based independent futures brokerage and clearing firm R.J. O'Brien & Associates (RJO) yesterday announced that its Senior Managing Director and Chief Risk Officer Jamal Oulhadj has been promoted to Chief Operating Officer of the firm's holding ...
Insurance Journal
Thu, 26 Feb 2015 02:18:45 -0800

Bermuda-based Global Atlantic Financial Group Limited has appointed Peter Cai, Ph.D., as Chief Risk Officer (CRO). A move, which the company said, “enhances risk management functions throughout the enterprise,” as it “experiences continued growth.”.
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Wed, 25 Feb 2015 09:26:15 -0800

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Wed, 18 Feb 2015 09:29:33 -0800

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Tue, 03 Mar 2015 15:03:32 -0800

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