Establishing and Nurturing an Effective Risk Culture - Enabling the Chief Risk Officer's Success

Protiviti Whitepaper

Establishing and Nurturing an Effective Risk Culture - Enabling the Chief Risk Officer's Success

In a white paper issued in late 2010, Protiviti inaugurated a series addressing critical challenges faced by the financial services chief risk officers (CROs). The paper introduced five "secrets" of what we referred to as the "winning hand" for CROs, using an analogy of the game of poker. This initial paper noted that changes being implemented across the financial services industry - through enhanced oversight, more rules and regulations, increased transparency and better governance, among other things - may fall short of expectations if the secrets we cited in the paper were not addressed.