Transition From A Traditional To A Transformational CRO

May 12th, 2022

Alla Valente Senior Analyst

Renee Murphy

With contributors:

Amy DeMartine , Melissa Bongarzone , Isabelle Raposo , Peggy Dostie

Summary

Shaped by greater uncertainty, business complexity, and emerging threats facing firms today, risk management’s role is broader and more significant than ever. As firms expand their risk management strategy to include new sources of risk and shift their center of gravity to include nonfinancial risks, a new type of transformational chief risk officer (CRO) is emerging. This transformational CRO must balance protecting the enterprise with finding opportunities for growth. This report describes the transition from transactional CRO to transformational CRO happening within the role and guides risk managers on how they can make the change.

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