Sign of times: Chief Risk Officers in demand

Not too long ago, we were talking about companies installing more chief compliance officers. Now, more companies are considering adding chief risk officers, especially in financial services, notes Financial Week. Many just follow in the footsteps of UBS and set up risk committees. One issue is whether this movement will work against compliance objectives or for them. You could argue that they are distinct disciplines, but that they also are related in practice. Some audit committees, for example, took on risk responsibility, fairly or not. And the rise of GRC software serves to encourage people to think in terms of integrated solutions. You also could argue that manic focus on Sarbanes-Oxley really made it hard for executives to focus on risks. Still, it remains to be seen whether the risk movement will work out. At some places, it may be board PR.  

For more:
- here's an article from Financial Week

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