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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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1238 news items

Wall Street Journal

Wall Street Journal
Fri, 18 Jul 2014 12:17:19 -0700

The chief risk officer at $13 billion hedge-fund firm Highfields Capital Management LP has resigned to be a co-founder of ex-SAC Capital Advisors LP executive Solomon Kumin's new hedge fund, according to people familiar with the matter. Todd Rapp, 39 ...
Insurance News Net
Sun, 27 Jul 2014 22:03:45 -0700

Sallie Mae reported the appointment of Jeffrey Dale as the company's first Chief Risk Officer. In its release, the company said Dale will work with senior executives and other company stakeholders to build out the enterprise risk management function ...
Mon, 28 Jul 2014 23:00:00 -0700

ME Bank has appointed Carlo Cataldo as chief risk officer as part of its plans to capitalise on the new comprehensive credit reporting (CCR) regime in 2015. Mr Cataldo has 20 years of experience in senior risk roles, including six years at the consumer ...
Business Wire (press release)
Wed, 23 Jul 2014 12:52:30 -0700

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (NASDAQ: SLM) today announced the appointment of Jeffrey Dale as the company's first Chief Risk Officer. Mr. Dale will work with senior executives and other company stakeholders to build out the enterprise ...
Compliance Week (blog)
Thu, 03 Jul 2014 10:39:00 -0700

RTI International Metals, an integrated global supplier of advanced titanium and specialty metals products and services, has named Bill Hull to the newly-created role of chief risk officer, effective as of July 1. Hull, who's served as RTI's chief ...
Compliance Week (blog)
Thu, 03 Jul 2014 11:05:38 -0700

With more than 20 years of industry experience, Cisneros joins LP Insurance from International Game Technology, where he formerly was director and risk and insurance manager. As chief risk officer at LP Insurance, Cisneros is responsible for leading ...
Thu, 10 Jul 2014 03:52:30 -0700

500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today announced that Mr. Anthony Liu will resign from his post as Chief Risk Officer and Investor Relations Director effective July 14 ...

Sydney Morning Herald

Sydney Morning Herald
Thu, 31 Jul 2014 15:43:45 -0700

David Gall, who most recently worked in the products and markets area, has been appointed chief risk officer. And Renee Roberts will move from chief risk officer in New Zealand to fill the position vacated by Ms Gray. ”We understand the need to deliver ...

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