CCRO Program by https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2 en-us 2022-08-26 05:15:52 UTC 2022-08-26 07:33:59 UTC hello@padlet.com Elijah: The key responsibility of a CRO is to work with the Board to define the risk appetite of an organisation. In addition the CRO is responsible for constituting the ERMF of the organisation and ensuring that this is implemented organsiation wide. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442308 2022-08-26 07:12:43 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442308 identifying and monitoring risk for an entity https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442316 2022-08-26 07:12:44 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442316 Susan - Responsible for overseeing the implementation of policies and procedures to minimize and manage organizational risks https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442513 2022-08-26 07:13:00 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442513 formulating a risk management framework for the organisation https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442949 2022-08-26 07:13:26 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272442949 roles of a chief risk officer https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443242 1. draft risk appetite of company
2. inform management  on risks outside the limits
3. report risks to senior management and board
4. monitor risks]]> 2022-08-26 07:13:57 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443242 Responsibilities of CRO https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443489 1. Responsible for spearheading the activities relating to ERM in that organisation ]]> 2022-08-26 07:14:13 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443489 Responsible for the institution's risk management function as well as its enterprise wide risk management framework. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443532 Responsible for ensuring that the institution's strategy is one that is responsive to the risks in the environment


risk monitoring, evaluation and implementation


]]> 2022-08-26 07:14:17 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272443532 https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444041 The key responsibilities of the CRO include guiding the business, through its strategic direction on how to deliver it with well measured, managed and monitored risks

]]> 2022-08-26 07:14:48 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444041 The role of the CRO is to drive the formulation and implementation of the Enterprise Risk Management Framework across the Organization in supporting attainment of the both Risk and overall Organization strategies. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444448 2022-08-26 07:15:04 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444448 Kapalu https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444957 1.The status given by some companies for the CRO is low as such it becomes very challenging to handle strategic matters.
2. CRO's are not given the right to report to the audit and risk committee but through the Director audit.]]> 2022-08-26 07:15:34 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272444957 Abel https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445047 The key responsibility of the CRO is to Coordinate the Enterprise Risk Management of the organisation by formulating the Risk Framework.]]> 2022-08-26 07:15:43 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445047 Elijah: Some of the key challenges include: Conflict with management in addressing risks identified (risk vs reward). In addition lack of adherence to controls in place, opposition to building a risk culture in an organisation, inability for stakeholders to own risks identified, undertsanding of the independence and role of the CRO according to the Corporate Governance Directives. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445048 2022-08-26 07:15:43 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445048 Lack of buy in from the board and management on the importance of the CRO function https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445729 lack of independence of the CRO function



]]> 2022-08-26 07:16:47 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445729 reporting to the Committee/Board on risk monitoring and implementation of controls to mitigate risks https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445887 2022-08-26 07:17:01 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272445887 challenges faced by CRO https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446830 1. position not senior enough to influence decision making
2. lack of proper structure in the organisation]]> 2022-08-26 07:18:00 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446830 What are the key job responsibilities of a Chief Risk Officer (CRO) https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446903 The job of the CRO is to consolidate the siloed risk management frameworks into an Enterprise Risk Management Framework that links risks to the organisation's strategy. 

]]> 2022-08-26 07:18:08 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446903 Naomi; Also helps in coming up with the appropriate risk appetite for the org in discussion with Magt team https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446904 2022-08-26 07:18:08 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446904 Susan - The tone at the top, where leadership has a relaxed approach to risks https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446911 2022-08-26 07:18:09 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272446911 Kapalu https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447206 Help the organisation in developing the Risk appetite and the ERM framework


]]> 2022-08-26 07:18:34 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447206 some employers may view risk management to be an obstacle to their work as opposed to it being a value addition function https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447315 2022-08-26 07:18:47 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447315 The challenges faced by the CRO are: https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447318 1. Driving the right risk culture across the Business.
2. Usually unpopular in the business as he perceived working against the business when he applies restrictions on the rsik appetite.]]> 2022-08-26 07:18:47 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447318 Key challenges of the role is making the business understand between growth and controlled growth. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447725 2022-08-26 07:19:26 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447725 Abel https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447809 Some of the key challenges faced by the CRO is difficulties when it comes to inculcating a strong and positive risk culture in the organisation as some other business partners don't fully own the risks which are identified within their business units.]]> 2022-08-26 07:19:35 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447809 Naomi; some of the challenges relate to reporting structures. Not having appropriate or adequate authority within the organisation https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447915 2022-08-26 07:19:46 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272447915 The key responsibility of CRO is to ensure identified risks are continually monitored and management is kept abreast with all risk and emerging risks the institution is exposed to https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272448264 2022-08-26 07:20:26 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272448264 https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272448437 Lufunda -Key Challenges include: Lack of buy in from the Board and Management on risk management issues]]> 2022-08-26 07:20:42 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272448437 What are some of the key Challenges faced by a Chief Risk Officer (CRO) ? https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272449201 Since Risk is somewhat new, the CRO faces several challenges. Some of these resistance to involving the risk department in major activities and decisions, inculcating the concept into the organisation, lack oappropriate stature to give risk unfettered access and appropriate room to operate.

]]> 2022-08-26 07:21:44 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272449201 Buy in by respective departments of their role in identifying risks. https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272450159 2. Selective sharing of information and decisions management wishes to undertake]]> 2022-08-26 07:23:04 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272450159 https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272451842 Luf: Key role is planning, designing and implementing an ERM framework for the organisation to facilitate the identification the key risks in the institution]]> 2022-08-26 07:25:25 UTC https://padlet.com/DrChrisGoh/oz0gsnypxagmsra2/wish/2272451842