What is the function of the chief risk officer in a financial institution?
Expert Answer
Chief Risk Officer or CRO’s function is to identify, assess and mitigate the possible threats to the company’s capital and earning. The threats can be competitive, regulatory or technological threats. Information protection strategies and risk assurance should be taken care by the CRO and need to ensure that the company is compliant with the government regulations. Issues in other areas including insurance, financial auditing, internal auditing global business variables, fraud prevention and other internal corporate investigations also comes under the responsibilities of CRO.CRO should
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