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This part of the article is going to focus on the financial industry, especially on the banking sector because most of the information about Chief Risk Officer in this paper are related to the banking sector as well. This sector is determined by several competitors that is why this article is about some Chief Risk Officers who work for very influential and powerful companies in this division.

One of the most notable CRO’s is Craig W. Broderick who works for Goldman Sachs which is one of the most profitable and criticized company in the banking sector. Mr. Broderick’s daily business is to take care of the credit, market, operational, liquidity and model risk. In addition to his actual position at Goldman Sachs, he is Chair of the Risk Governance Committee and Co-Chair of the Firmwide Risk Committee and he serves as a member of the Management Committee. Mr. Broderick has joined Goldman Sachs in 1985 and he started working there as a manager of the European Credit in the Credit Department in New York until 1999. In 1998 he was promoted as Managing Director and one year later he operated as Chief Credit Officer until 2008. Thereafter he became Chief Risk Officer of Goldman Sachs. However, Mister Broderick’s annual salary is approximately $2,000,000.

Another big competitor of Goldman Sachs with respect to revenue and profitability is JPMorgan Chase and their Chief Risk Officer is named Ashley Bacon. He has been promoted as Chief Risk Officer in 2015 as a consequence of the big loss ($6.2 billion) which is related to their previous bad marking bets. Previously A. Bacon has been the deputy chief risk officer and global head of market risk for JPMorgan’s investment bank. Additionally, he serves for 24 years for JPMorgan. One of the most important responsibilities of Mr. Bacon is the credit portfolio which includes operation, liquidity and market risk. In addition to that, he has been involved in establishing a firm-wide Risk Committee which improved the risk operating and enhanced the reporting to the Board of Directors. The salary of Mr. Bacon is not published but it is roughly about $2,000,000 as well.

Finally, Morgan Stanley has also a big influence in the financial sector and their revenues equal pretty much the revenues of Goldman Sachs and JPMorgan and their Chief Risk Officer is Keishi Hotsuki who previously served as an Executive Vice President at Morgan Stanley and earlier he has been Head of the Market Risk Department. In addition to that, he has joined Morgan Stanley in 2008. Mr. Hotsuki is also a member of the firm`s Operating and Management Committees and his responsibilities are mostly related to credit risk and operational risk as well and he report this information directly to the Board of Directors. The annual salary of his Mr. Hotsuki is round about $1,800,000.