Chief Operational Risk Officer
The role of the Chief Operational Risk Officer (CORO) continues to evolve and gain importance. In addition to being responsible for setting up a robust Operational Risk Management function at companies, the role also plays an important part in increasing awareness of the benefits of sound operational risk management.
Most complex financial institutions have a Chief Operational Risk Officer. The position is also required for Banks that fall into the Basel II Advanced Measurement Approach "mandatory" category.
Read more about this topic: Operational Risk Management
Famous quotes containing the words chief, risk and/or officer:
“Eyes—the head’s chief of police. They watch and make mental notes. A blind person is like a city abandoned by the authorities. On sad days they cry. In these carefree times they weep only from tender emotions.”
—Anton Pavlovich Chekhov (1860–1904)
“It’s a funny thing, the less people have to live for, the less nerve they have to risk losing—nothing.”
—Zora Neale Hurston (1891–1960)
“When Prince William [later King William IV] was at Cork in 1787, an old officer ... dined with him, and happened to say he had been forty years in the service. The Prince with a sneer asked what he had learnt in those forty years. The old gentleman justly offended, said, “Sir, I have learnt, when I am no longer fit to fight, to make as good a retreat as I can” —and walked out of the room.”
—Horace Walpole (1717–1797)