Enabling the Chief Risk Officer’s Success (First in a Series)
Great poker players know instinctively “when to hold ’em and when to fold ’em.” They know when to lay back and when to strike for victory. In short, they know the discipline. While it’s important to note that even the most conservative and skilled poker player most likely has a risk appetite far in excess of the appetite that would be deemed prudent by most organizations, there are learnable lessons and analogies between poker and the role of the chief risk officer (CRO) or risk function. We propose that with successful deployment of the five secrets we introduce in this white paper, CROs will be better able to advise management and the board when to press forward and when to hold back, when to pass on seemingly great opportunities, and when to act with courage and confidence.
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