25 September 2003

Risk officers serve well as nags

Risk officers serve well as nags: "By BILL VIRGIN

Whatever business they're in, most companies follow a fairly standard model for organizing the executive suite: Chairman, president, chief executive officer (often combined in one person), chief financial officer, chief technology officer, chief risk officer, chief ...

Wait a minute. What was that last one?

Chief risk officer isn't a title you see very often in corporate executive structures. Expect to see it more frequently."

The Chief Risk Officer will in most cases also have a VP of Operational Risk and Credit or Market Risk reporting to them. The goal here is to put specialists into roles that have high accountability to the CEO and the Audit Committee. Now if we could just get the CSO (Chief Security Officer) to report into the same suite instead of being imprisoned by the CIO and technical side of the business.

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