A chief risk officer has become a crucial resource during the coronavirus pandemic as many businesses face a wide range of operative threats to their processes and their workforces. CRO’s identify key risks, assess a company’s ability to take risks, and plan for recovery and resilience. The complex role of a CRO demands skills such as:
Analytical knowledge to evaluate varied business decisions ranging from supply chains to staffing
Relationship management expertise to maintain dealings with law firms,
insurance brokers and industry peers
The power of persuasion to influence fellow executives
Sound communication skills to handle employees and media in a crisis
Financial literacy to gauge a company’ s balance sheet and loss / gain elements involved in the workings of a factory unit
Accountability to the government regulators and investors who are inquiring about preparations
for global catastrophe
Effective coordination with a company’ s compliance and legal teams