The Triumph of the Humble Chief Risk Officer
Details
Serval ID
serval:BIB_C4F4A4B7FE1A
Type
A part of a book
Publication sub-type
Chapter: chapter ou part
Collection
Publications
Institution
Title
The Triumph of the Humble Chief Risk Officer
Title of the book
Riskwork: Essays on the Organizational Life of Risk Management
Publisher
Oxford University Press
Address of publication
Oxford, UK
ISBN
9780198753223
Publication state
Published
Issued date
09/2016
Editor
Power M. K.
Chapter
12
Language
english
Abstract
This chapter analyses the role of two CROs, and the tools and processes they implemented in their respective organizations. Both saw that risk management had to be transformed from a collection of ‘off-the-shelf’ tools into a living and legitimate organizational control process. In both CRO cases, their riskwork involved a significant degree of humility, manifest in their limited formal authority and meagre resources. Their skill was to build an informal network of relationships with executives and business managers, allowing them to resist being stereotyped as either compliance champions or business partners. Instead they created and shaped the perception of their role as a careful balancing act between keeping one’s distance and staying involved. The riskwork of these CROs involved little or no packaging of standardized risk management ideas for business managers and was more focused on the creation and internalization of a specific type of ‘risk talk’ as an accepted, cross-functional language of business.
Keywords
Riskwork, Risk talk, Enterprise risk management (ERM), Chief risk officers (CROs)
Create date
27/10/2016 16:30
Last modification date
20/08/2019 15:40