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CHARACTERISTICS/QUALIFICATIONS

The characteristics and qualifications of a Chief Risk Officer is dependent on the industry and the type of the business they are working in. For example, if the CRO were involved in the finance industry, a postgraduate education along with 10+ years of experience usually in accounting, economics, internal audit, risk management, strategic planning, or actuarial backgrounds would typically be a common characteristic along with many years in the banking sector. [2] [3] Along with their extensive knowledge of the rules and regulations in finance, they usually will hold a position in the first/mid-level management up to senior executive prior to becoming CRO. [1] Having to understand the compliance with government regulations such as Sarbanes Oxley of 2002, it is common for CRO's to have also held a Chief Financial Officer position prior to becoming a Chief Risk Officer. With their quantitative background in math, finance, and accounting - making the change to risk management would be a familiar experience. [3] [4] Whether in the technology, retail, healthcare, or finance industry - the qualities of a typical Chief Risk Officer are very similar throughout the industries. Their financial expertise will aid in creating reporting procedures that will monitoring any critical risks an organization may encounter.

Lam, James. (2013). 19. In Enterprise Risk Management (pp. 342-343). Hoboken, NJ: Wiley. [1]

Staff, E. R. (2005, May 01). Role of the Chief Risk Officer. Retrieved December 02, 2017, from https://erm.ncsu.edu/library/article/role-risk-officer [2]

Job Profile: Chief Risk Officer. (n.d.). Retrieved December 02, 2017, from http://www.master-of-finance.org/job-profiles/chief-risk-officer/ [3]

Part Three: The role of the chief risk officer (CRO). (2009, July 23). Retrieved December 10, 2017, from http://onlinelibrary.wiley.com/doi/10.1002/jhrm.5600250407/pdf [4]