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CRO RISK FORUM: CROs – who needs them?
10 August 2009
Julia Graham, former chair of the UK’s Association of Insurance and Risk Managers and chief risk officer of the international law firm DLA Piper, discusses the evolving role of the CRO
Risk management, already a fashionable concept before the economic crisis, has become one of the hottest topics in industry. It is also a subject covered in ambiguity. The big challenge for the risk profession is to bring clarity and to convert a theoretical concept into something that is tangible: one that can be shown to make organisations more effective and, in the case of the private sector, more profitable. Risk managers should seize the opportunity the risk environment today presents to take their place in the senior management team - but they must be sure they understand what value they bring and that they are confident in their ability to do the job! One of the difficulties with risk is that it is part of everything we do. There are so many different risk definitions and types: operational; financial; legal; audit; compliance; health and safety; reputation; environmental; and many others....
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