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CRO RISK FORUM: Bringing ERM into focus
10 August 2009
CB Richard Ellis Group has 300 offices worldwide. Tim Bunt, the firm’s chief risk officer, explains how he is conducting an ERM programme to keep them all in harmony.
- Tell us a bit about your background
Before joining CBRE I was a risk officer at the Prudential insurance company working mainly on risk financing, including counterparty security. Also, I have worked in the energy industry for Texaco and Tosco. I was also on the board of the Spencer Educational Foundation, where I concentrated on helping develop an educational curriculum to prepare students for a future in risk management with an emphasis on ERM (enterprise risk management).
- Do you think insurance risk managers can make the transition to chief risk officer?
I don’t think that many of the insurance risk managers have the right skill-sets or life experiences to make the transition. Most US risk managers are still essentially insurance buyers. Change is coming in corporate America, but it has been a slow process with financial services and energy companies leading the way in developing ERM and CRO roles.
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