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Chief Risk Officer (CRO)

The chief risk officer (CRO) manages all the risks that can affect a corporation. This position has grown in importance in recent years as failures in risk management have provoked major losses during the recent economic crisis. This entry explains the role of the CRO, his or her responsibilities and duties, his or her requirements, and finally the relationship between the CRO and enterprise risk management (ERM).

The CRO in a corporation reports to the executive committee and the board of directors on the management of risks that may affect the company’s activity and reputation. Such management consists primarily in striking the right balance between risks and rewards at each stage of the decision-making processes undertaken at the company.

In more complex organizations, CROs are responsible for ...

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