Who Owns Risk?

A survey of nearly 400 executives conducted by Accenture in early 2011 reports that only 14% of finance chiefs hold the ultimate responsibility for risk management, compared with 34% two years ago.  Nearly half of these executives report that their company has a Chief Risk Officer (CRO) up from 33% two years ago.  The elevated role in the ‘C-Suite’ has resulted in CFO’s losing the top spot as the primary owners of risk management.

The rise of the CRO is seen as a sign that risk management has moved up in importance on the overall corporate agenda and is demanding wider attention beyond the finance department.  Smart companies are using it to gain competitive advantage by factoring it into their strategic planning.

Please click here to view a copy of the article Who Owns Risk? first published in CFO.com on 29 June 2011.

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