By Jim Wetekamp, CEO, Riskonnect
Disruptions across the world are spurring changes in risk oversight and leading many organizations to think long and hard about adding a CRO. Consider the numbers: LinkedIn reports the number of CROs in the U.S. is rising. The RIMS 2020 Enterprise Risk Management Benchmark report shows that 20% of surveyed organizations have changed how they govern and oversee risk management.
While those numbers are far from a groundswell, they represent positive — and much needed — growth in enterprise risk leadership.
The case for a CRO should be abundantly clear by now. Today’s business landscape is fraught with uninsurable risk. Pandemics aside, the increasing sophistication of third-party risks pose a threat to business operations, performance, reputation, and growth.
CROs have the vantage point to see risk holistically across the organization. CROs have the expertise – and the clout – to advise the rest of the C-suite about the total and strategic impact of insurable and noninsurable threats and offer guidance on how to prepare and respond. Who wouldn’t want a CRO in their corner?
Tapping a CRO in 2021 is a smart move. Read on for three distinct ways CROs add value.
Read full article in CEO World >>