Chief risk officer
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The Chief Risk Officer (CRO) of a corporation is the executive in charge of assessing and planning for potential risks in the various segments of a given business model, such as computer security, compliance, and lawsuits, to minimize the firm's liability and related management costs.
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.
The main priority for the CRO is to ensure that the organisation is in full compliance with the regulations. Monitoring emerging risks, and integrating risk management principles, in the organisation strategic framework, is also emerging as a crucial role of the CRO.
See also
- Risk Management
- Business titles
- Corporate title
- Corporate officer
- Amy Woods Brinkley, Chief Risk Officer of Bank of America
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