The Chief Risk Officer

Perspectives

ME PoV Fall 2010 issue

The Chief Risk Officer

Your business ally

As enterprise Risk Management increasingly becomes a regulatory requirement within the Gulf Cooperation Council countries and the wider Middle East region, we take a look at the merits of the Chief Risk Officer and the requirements for their success.

Whether or not the Chief Risk Officer (CRO) should be reserved a permanent seat within the exclusive “C-Suite” is a hotly debated topic. Company executives and academics alike question the need to have a figurehead dedicated to overseeing Enterprise Risk Management (ERM) within organizations. Given that CROs are not required to own business risks, nor are they specialists in all risk areas, a common thought is that if a company adopts an enterprise-wide risk management program and has an embedded risk-aware culture, it should be able to run itself.

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