Why the Chief Risk Officer has become the most important person in your organisation

April 16, 2019

The role of the Chief Risk Officer (CRO) is by no means a new one. Risk has always existed in business and there have nearly always been people in business who’s job it is to manage, minimise and mitigate that risk.

But the past decade has seen the emergence of a greater volume and type of risk than was around previously. The nature of geo-political, regulatory, cyber and technology risks mean that modern businesses face greater challenges than before and this has changed the role of the CRO for good.

It was once a role that existed mostly to mitigate more traditional risks to a business – although an important role, it was relatively low profile and not one that was centre-stage in the business. But because the nature of risk has changed so radically, so have the requirements expected of a CRO.

What has been the driving force behind these changes and what does a CRO need to be truly successful in their job in 2019?