Chief Risk Officer Job Description Template

Tatia Tatoshvili

Last updated on December 2, 2024 | 7 min read

Job Description Template

General overview of the role

The Chief Risk Officer (CRO) is responsible for developing and implementing an organization’s risk management strategy, ensuring that all potential risks are identified, assessed, and mitigated effectively. The CRO plays a vital role in aligning risk management with the company’s strategic objectives, fostering a risk-aware culture, and maintaining regulatory compliance. This leadership position requires expertise in risk assessment, regulatory frameworks, and cross-functional collaboration to integrate risk management practices across the business. The CRO provides strategic advice to the board and executive leadership, ensuring that risks are understood, well-managed, and proactively addressed.

Typical duties and responsibilities

1. Develop, implement, and maintain a comprehensive risk management framework to identify, assess, monitor, and mitigate key business risks, including operational, financial, legal, reputational, and strategic risks.
2. Work closely with executive leadership to define the organization’s risk tolerance and ensure alignment with corporate objectives and business strategies.
3. Oversee the development and execution of risk mitigation plans, collaborating with other departments to integrate effective risk management practices across the business.
4. Conduct regular risk assessments and provide strategic advice to senior management on potential risks and mitigation strategies.
5. Monitor emerging risks, trends, and regulatory changes, recommending proactive measures to address new challenges.
6. Lead the enterprise risk management (ERM) process to ensure the identification and management of risks at all organizational levels.
7. Provide regular risk reports to the board of directors, senior management, and relevant stakeholders, ensuring transparency and informed decision-making.
8. Develop and implement training programs to promote risk awareness and foster a risk-aware culture across the organization.
9. Oversee crisis management and business continuity planning to ensure preparedness and effective recovery from potential disruptions.
10. Ensure compliance with regulatory requirements related to risk management, collaborating with legal, audit, and compliance teams to maintain adherence to standards.

Required skills and experience

• Bachelor’s degree in Business, Finance, Risk Management, or a related field; an advanced degree (e.g., MBA, Master’s in Risk Management) is highly preferred.
• 8–10 years of proven experience in a senior leadership role in risk management, compliance, or a related field, demonstrating expertise in risk frameworks and processes.
• Expertise in risk assessment, analysis, and mitigation techniques, as well as crisis management and business continuity planning.
• Strong knowledge of regulatory requirements and industry standards related to risk management and compliance.
• Excellent strategic thinking and decision-making skills, with the ability to manage complex risks and make informed recommendations.
• Exceptional leadership and interpersonal skills to influence and collaborate effectively with executives, board members, and cross-functional teams.
• Strong communication skills, including the ability to present complex risk concepts clearly to non-expert stakeholders.
• Proven experience managing teams and developing talent in risk management roles.
• Ability to manage multiple priorities in a dynamic, fast-paced environment while maintaining attention to detail.
• Proficiency in risk management software and tools, combined with strong data analysis skills to inform strategic decisions.

Nice to have/preferred skills and experience (not required)

• Certification in risk management, such as Certified Risk Manager (CRM) or Financial Risk Manager (FRM), demonstrating advanced expertise.
• Experience managing global risks and a thorough understanding of international regulations and compliance requirements.
• Knowledge of cybersecurity risks and experience in managing digital and technological risks within a complex organizational structure.
• Strong connections within the risk management community and active involvement in industry associations or forums.
• Experience in managing third-party and vendor risks to ensure the organization’s extended ecosystem is well-protected.
• Advanced proficiency in data analytics tools and techniques, leveraging insights to strengthen risk management strategies.

What we offer

• Extensive health and wellness coverage.
• Work-from-home options and flexible hours.
• Paid time off for vacations, holidays, and sick leave.

Here are a few more benefits that, according to Forbes, are valued by employees:

• Retirement savings plans with employer matching, such as 401(k) plans, are significant to employees.
• Early leave on Fridays.
• 4-day work week.
• Private dental insurance.

About us

We recommend including general information about the company, such as its mission, values, and industry focus. For instance, you could say:

“DevsData LLC is an IT recruitment agency that connects top tech talent with leading companies to drive innovation and success. Their diverse team of US specialists brings unique viewpoints and cultural insights, boosting their capacity to meet client demands and build inclusive work cultures. Over the past 8 years, DevsData LLC has successfully completed more than 80 projects for startups and corporate clients in the US and Europe.”

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Contact DevsData LLC

If you’re looking to hire a qualified Chief Risk Officer, reach out to DevsData LLC at [email protected] or visit www.devsdata.com. The company’s recruitment process is thorough and efficient, utilizing a vast database of over 65000 professionals.

They are renowned for their rigorous 90-minute interviews to assess candidates’ technical skills and problem-solving abilities.

Additionally, DevsData LLC holds a government-approved recruitment license, ensuring compliance with industry standards and regulations.