Chief risk officer

From Wikipedia, the free encyclopedia

The Chief Risk Officer (CRO) or Chief Risk Management Officer (CRMO) of a corporation is the executive in charge of assessing and planning for potential risks in the various segments of a given business. Risks are commonly categorized as strategic, operational, financial, or compliance-related. CRO's help minimize the firm's liability and related management costs. In more complex organizations, they are generally responsible for coordinating the organization's Enterprise Risk Management(ERM) approach.

The CRO is a revolutionary position created in the wake of the Basel Accord, the Sarbanes-Oxley Act, the Turnbull Report and other pieces of legislation. A main priority for the CRO is to ensure that the organisation is in full compliance with applicable regulations. 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, and legal backgrounds common.

[edit] CROs

• AllianceBernstein - David Martin
• Bank of America - Amy Woods Brinkley
• Barclays Global Investors - Terry Watson
• Canadian Imperial Bank of Commerce - Wayne Fox
• Citigroup - Brian Leach
• Deutsche Bank - Hugo Bänziger
• Enron - Richard Buy
• Fidelity Investments - Joseph Iraci
• Merrill Lynch - Noel B. Donohoe & Edmond N. Moriarty
• Morgan Stanley Investment Management - Kenneth Winston
• JP Morgan Chase - Barry Zubrow
• UBS AG - Walter Stuerzinger
• Zurich Financial Services Group - Andreas Grünbichler

[edit] External links

1. The rise and rise of the chief risk officer (article by Sheila Allen)
2. Send in the Chief Risk Officer (article by Sandra Pundmann and Bill Kobel)
3. Chief Risk Officers emerging as key to helping CIOs accomplish goals (by IT Business Edge)
4. The Expanding Role of Chief Risk Officer: From Risk Cop to Decision-Maker (article by Alex Krutov)
5. The Chief Risk Officer (article by C.R. Lee and P. Shimpi)

[edit] References

v • d • e Corporate titles Titles Chief administrative officer  · Chief analytics officer  · Chief channel officer  · Chief compliance officer  · Chief communications officer  · Chief data officer  · Chief executive officer  · Chief financial officer  · Chief information officer  · Chief information security officer  · Chief knowledge officer  · Chief learning officer  · Chief legal officer  · Chief marketing officer  · Chief networking officer  · Chief operating officer  · Chief procurement officer  · Chief risk officer  · Chief science officer  · Chief strategy officer  · Chief technical officer  · Chief visionary officer See also Board of directors  · Chairman of the board  · Corporate governance  · Creative director  · Executive compensation  · Executive director  · Fiduciary  · General counsel  · Management team  · Managing director  · Non-executive director  · Corner office