I enjoyed this article about the ascent of the Chief Risk Officer, The chief risk officers are coming, published in July 2009 by Lloyds. Specifically, the differences between the risk manager and the CRO are interesting as described by Peter den Dekker, president of FERMA, the association of European risk managers.
- The CRO is member of the board and part of the corporate decision-making body. He or she will be taking part in decisions about mergers and acquisitions, contracts, investments.
- The risk manager is a facilitator … his or her job is to embed the company’s risk management policy and programme in its business processes, so that the company has the right culture…
- Risk managers provide information that informs board decisions, but they do not make the decisions.
Click on the link above to read the complete article.