Deloitte and Hedley May have collaborated on a research project to bring some clarity to the much discussed role of the corporate CRO, and to investigate how large corporates approach risk management. After interviewing a wide range of CFOs, CROs and NEDs on these issues across a broad spectrum of FTSE 100 organisations, we have produced ‘The Myth and Reality of the Corporate CRO – An individual or a set of capabilities?
Specifically we sought to answer the following questions:
- What is the current role of the CRO?
- Is the role of the CRO becoming more prevalent outside financial services?
- Who is the CRO?
- What type of company has a CRO?
- How are large corporates managing risk in the new economic environment?
- Is ‘best practice’ risk management emerging?
- Is there a sufficient focus on opportunity and upside in risk management?
- What are the implications for the future of risk management?
We hope it provides a fresh perspective on some of the most critical risk management challenges facing corporates.