CRO meaning in Jobs ?

Answer:

What is Chief Risk Officer mean?

The chief risk officer (CRO) or chief risk management officer (CRMO) or chief risk and compliance officer (CRCO) of a firm or corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various segments. Risks are commonly categorized as strategic, reputational, operational, financial, or compliance-related. CROs are accountable to the Executive Committee and The Board for enabling the business to balance risk and reward. In more complex organizations, they are generally responsible for coordinating the organization's Enterprise Risk Management (ERM) approach. The CRO is responsible for assessing and mitigating significant competitive, regulatory, and technological threats to a firm's capital and earnings. The CRO roles and responsibilities vary depending on the size of the organization and industry. The CRO works to ensure that the firm is compliant with government regulations, such as Sarbanes-Oxley, and reviews factors that could negatively affect investments. Typically, the CRO is responsible for the firm's risk management operations, including managing, identifying, evaluating, reporting and overseeing the firm's risks externally and internally to the organization and works diligently with senior management such as chief executive officer and chief financial officer.

The role of the chief risk officer (CRO) is becoming increasing important in financial, investment, and insurance sectors. According to Watson, the majority of CROs agreed that having only exceptional analytical skill is not sufficient. The most successful CROs are able to combine these skills with highly developed commercial, strategic, leadership and communication skill to be able to drive change and make a difference in an organization. CROs typically have post graduate education with over 20 years of experience in accounting, economics, legal or actuarial backgrounds.A business may find a risk acceptable; however, the company as a whole may not. CROs need to balance risks with financial, investment, insurance, personnel and inventory decisions to obtain an optimum level for stakeholders. According to a study by Morgan McKinley, a successful CRO must be able to deal with complexity and ambiguity, and understand the bigger picture.

James Lam, a noted risk professional, is credited as the first person to coin the term. Lam is the first person to hold that position at GE Capital in 1993. The position became more common after the Basel Accord, the Sarbanes-Oxley Act, the Turnbull Report.

A main priority for the CRO is to ensure that the organization is in full compliance with applicable regulations and to analyze all risk related issues. They may also be required to work alongside other senior executives such as with a chief compliance officer. They may deal with topics regarding insurance, internal auditing, corporate investigations, fraud, and information security. The responsibilities and requirements to become a chief risk officer vary depending on the size of the organization and the industry, however most CRO's typically have a masters-degree level of education and 10 to 20 years of business-related experience, with actuarial, accounting, economics, and legal backgrounds common. There are many different pathways to become a CRO but most organizations prefer to promote their own employees to the position internally.

reference

Full Form	Category
CSU Research Output	Academic & Science
Contract Research Organisation	Academic & Science
Contract Research Organizations	Academic & Science
Cetos Research Organization (Bar Harbor, ME)	Academic & Science
Criterion Reference Objective	Academic & Science
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Clock Reference Oscillator (AT&T)	Academic & Science
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Chromium(II) Oxide	Academic & Science
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Corcoran (ca)	Airport Code
Civilian Repair Organisation	Associations & Organizations
Canceling Returns Only	Business
Consolidated Restaurant Operations	Business
Customer Relationship Optimization	Business
Customer Record Output	Business
Credited Retail Outlet	Business
Carded for Record Only	Business
Chief Research Officer	Business
Creon Resources, P.L.C.	Business
Conversion Rate Optimisation	Business
Costa Rican Outpost	Business
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Crisis Response Operations	Community
Civil Rights Officer	Community
Character Relationships Objective	Community
Click Rate Optimization	Community
Church-Related Organization	Community
Club Race Officer	Community
Classique Rallye Organisation (French car club)	Community
Creative Roleplaying Organization (live action roleplaying games)	Community
Community Reuse Organization	Community
Community Relations Office	Community
Community Resource Officer	Community
Community Redevelopment Office	Community
Colorado Recorder Orchestra	Community
Cave Rescue Organization	Community
Chrono Revolution Omega	Computing
Conversion Rate Optimization	Computing
Crypto.com Coin	Cryptocurrency
Cathode Ray Oscilloscope	Electronics
Child Restoration Outreach	General
Customer Revenue Optimizer	General
Central Reservations Office	General
Corporate Reservations Office	General
Continuity Recheck Outgoing	General
Corporate Responsibility Officer	General
Chief Recognition Officer	General
Crisis Response Operation	General
Chapter Relations Office	General
Carbapenem Resistant Organisms	General
Complaints Resolution Official	General
Cessation of Regulated Operations	General
Cathode Ray Oscillograph	General
Control Room Operator	General
Chief Regulatory Officers	General
Conversation Rate Optimisation	General
Conversation Rate Optimization	General
Current Ray Oscillator	General
Construction Related Occupation	General
Change of Reporting Official	General
Coloured Roads Only	General
Car Rental Operator	General
Chief Range Officer	General
Cancel Rerouted Overflow	General
Central Reservation Office	Governmental
Counterfeit Resistant Option	Governmental
Criminal Records Office	Governmental
Contract Regulatory Organization	Governmental
Congressional Relations Officer	Governmental
Collection and Recycling Organisation	Governmental
Clinical Research Organization	Governmental
Columbia Recovery Office	Governmental
Community Rehabilitation Orders	Governmental
Combinatoire et Recherche Opérationnelle (French: Combinatorics and Operations Research)	International
Commonwealth Relations Office	International
Customer Relationship Officer	Jobs
Chief Revenue Officer	Jobs
Chief Requisition Offcier	Jobs
Complaint Resolution Official	Jobs
Chief Restructuring Officer	Jobs
Competitor Relations Officers	Jobs
Chief Risk Officer	Jobs
Chief Registration Officer	Jobs
Chief Returning Officer	Jobs
Center Rotate Offset	Maths
Clinical Research Office	Medical
Clinical Research Officer	Medical
Combat Rescue Officer	Military and Defence
Contract Research Organization	Military and Defence
Companies Registration Office	Regional
County Records Office	Regional
Centre Régional de l'Occasion (French: Regional Center of Opportunity)	Regional
Complaints Resolution Officer	Regional
Cave Rescue Organisation	Regional