Some of our pages:
1. What is Risk?
2. The Role of the Risk Officer
Risk Officer, job description
It is evident in the aftermath of the global financial crisis that many companies and organizations had not been able to implement an effective and efficient risk management program. After the crisis, regulators and supervisord demand "fit and proper" risk officers that contribute to the design and implementation of a consistent controlled environment that complies with laws, regulations, policies, procedures and the code of ethics.
These are some of the responsibilities of a risk officer:
- Developing and maintaining knowledge of existing and emerging risks and regulatory compliance requirements across the organization.
- Working for the identification, assessment, control, monitoring and reporting of risks.
- Supporting enterprise-wide risk strategies and risk management requirements.
- Supporting ongoing risk measurement activities by acquiring, analyzing, and reporting business, operational, or relevant loss data.
- Working to ensure compliance with policies, procedures, and the code of ethics.
- Rensponding to supervisory inquiries.
- Providing guidance, advice, awareness and training.
- Working with the legal and compliance teams for customer complaints and litigation.
- Supporting the preparation for and response to audits, and ensuring that any audit findings are appropriately responded to and remediated.
- Developing and fostering strong relationships with business unit management, to improve communication of risk management issues.
- Working closely with investigation units on any Human Resources issues related to risk and compliance.
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