In many organizations, board risk oversight is enhanced when the board and executive management are supported by an effective independent risk management function. The ultimate advocate for risk management in any enterprise is arguably the CEO; however, CROs are unique in that they are often expected to provide a voice that champions the protection of enterprise value at crucial decision-making moments when a given strategy, transaction or deal is under scrutiny or is likely to expose the organization to unacceptable risk. If they do not, who will?
This issue of Board Perspectives
discusses six factors for positioning the CRO (and independent risk management) to succeed.