SmartSuite for the Chief Risk Officer
The Chief Risk Officer owns the enterprise risk framework: appetite, taxonomy, assessment method and the board's view of exposure. They integrate operational, cyber, third-party and resilience risk into one picture and make sure every top risk has an owner and a funded response.
What you own
- Set and maintain the enterprise risk appetite, taxonomy and assessment methodology
- Chair the risk committee and report risk posture to the board
- Aggregate risk across operational, financial, cyber, third-party and resilience domains
- Ensure every top risk has an accountable owner and a tracked treatment plan
- Oversee key risk indicators and escalation thresholds
- Coordinate the second line with internal audit and compliance
- Approve the risk-based inputs to strategy, capital and continuity decisions
Where the role sits
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Reports to
Direct reports
Works closely with
GRC processes
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Owns
accountable for the process
Touches
contributes or approves
Depends on
consumes its output
How SmartSuite helps, suite by suite
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How they use SmartSuite
How they use SmartSuite
How they use the Enterprise Risk Management suite
Enterprise risk oversight
Reviews enterprise-wide risk exposure, top risks, and mitigation status in real time.
Strategic exposure reports
Delivers executive and board reporting on risk posture and trends.
Mitigation governance
Ensures mitigation plans are owned, tracked, and executed on schedule.
Suites that serve this role
How SmartSuite supports this role
Risk management. Gives the CRO one live risk register with heat maps, KRIs and roll-ups from every business unit, so top-risk exposure and mitigation status are read in real time rather than compiled quarterly.
Operational resilience. Links important business services, BIAs and continuity plans to the risks they protect, so resilience readiness appears in the same exposure view.
Third-party risk. Rolls vendor risk tiers and open remediation into the enterprise register so supplier concentration and critical-vendor exposure are part of the risk picture.
Issues and actions. Tracks every mitigation plan with an owner, a due date and automated escalation, so the CRO can see which treatments are slipping before the committee meets.
Reporting. Produces executive and board risk reports from live data, including strategic exposure trends, without a manual deck-building cycle.
Industry reference
COSO ERM (2017) and ISO 31000:2018 describe the framework the Chief Risk Officer owns: a stated risk appetite, one taxonomy, a repeatable assessment method and risk reported alongside strategy. US federal agencies carry the same duty through OMB Circular A-123, which has required enterprise risk management since 2016.
In banking the role is prescribed. The Basel Committee's corporate governance principles (2015) expect an independent risk function led by a CRO with access to the board, and the Federal Reserve's enhanced prudential standards require large bank holding companies to appoint one. Insurers carry the equivalent duty through the Solvency II risk-management function and the ORSA, mirrored in the NAIC ORSA Model Act.
In their words
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