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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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7617 news items


LA Daily News
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.
Seeking Alpha
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 ...
Broadway World
Fri, 12 Dec 2014 05:30:00 -0800

IDC Financial Insights Reveals Chief Risk Officer Predictions for 2015 International Data Corporation (IDC) today hosted the IDC FutureScape: Worldwide Risk Management 2015 Predictions Web conference, which highlighted predictions based on a new ...


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 ...
Times of Malta
Thu, 04 Dec 2014 01:33:45 -0800

He has held a number of key senior positions, the most recent being that of executive head risk management. Mr Borg will be responsible for the measurement and management of all financial and non-financial risk of the BOV Group including credit risk, ...
Post Online
Thu, 04 Dec 2014 03:15:00 -0800

Hiscox's interim chief risk officer Hanna Kam is to take up the role on a permanent basis, subject to regulatory approval. Kam joins Hiscox from EY's Risk and Actuarial Services team, where her focus was on capital and risk management including ...

U-T San Diego

U-T San Diego
Sat, 20 Dec 2014 16:56:15 -0800

“We are believers in balancing risk among various assets in a portfolio over time,” said Ben Hunt, Salient's chief risk officer, at a meeting of the board of trustees last week. This winter, trustees are reviewing their investment strategy. I'm worried ...


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

Kleinwort Benson has hired Andrew Schiels as global chief risk officer. He replaces Letitia Smith, who recently left to join Lloyds. Schiels was most recently at Schroders, where he worked for 10 months as chief risk officer in the firm's wealth ...

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