Source: "The Chief Risk Officers are Coming." Lloyd's. July 31, 2009. Web.
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The position of Chief Risk Officer is becoming more prominent in many industries and will likely change the skills and behavior of current risk managers. Some believe that risk managers already possess the necessary skills, while others believe that they need to become more financially literate in order to take on such a strategic position. CROs will be given many strategic and risk-related responsibilities that current risk managers do not have. Optimally, the creation of a CRO position will give risk managers something to aspire to and create a more risk-based approach during strategic decision-making.