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Chief Risk Officer

Chief Risk Officer (CRO)

Definition

Newer title denoting an executive-level individual responsible for an organization's strategies, objectives, and techniques for handling all types of risk facing the enterprise. This is a holistic approach to risk that takes into account the company's growth, profit, and revenue. CROs are concerned not only with hazard risk (the traditional realm of risk managers) but also operational and financial risks. Financial institutions have led the way in establishing CRO positions.

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