What are the responsibilities of the CRO?

What are the responsibilities of the CRO?

Each correct answer represents a complete solution. Choose three.
A . Managing the risk assessment process
B . Implement corrective actions
C . Advising Board of Directors
D . Managing the supporting risk management function

View Answer

Answer: ABD

Explanation:

Chief Risk Officer is the executive-level manager in an organization. They provide corporate, guidance, governance, and oversight over the enterprise’s risk management activities. The main priority for the CRO is to ensure that the organization is in full compliance with applicable regulations. They may also deal with areas regarding insurance, internal auditing, corporate investigations, fraud, and information security.

CRO’s responsibilities include:

– Managing the risk assessment process

– Implementation of corrective actions

– Communicate risk management issues

– Supporting the risk management functions