Asia Risk Congress 2011: Clashes with CFOs more likely as CRO role gains prominence in Asia

The role of a chief risk officer (CRO) is becoming increasingly relevant at institutions in Asia – sometimes creating friction with the CFO. And Chinese CROs face additional challenges, according to participants at an Asia Risk Congress 2011 CRO roundtable

Edwin Yuen, Bank of China (Hong Kong)

The rise of chief risk officers (CROs) in the Asia-Pacific region is resulting in growing potential for conflict between increasingly powerful risk heads and company chief financial officers (CFOs), according to speakers and delegates attending the Asia Risk Congress 2011 in Hong Kong on October 25.

The creation of CROs, who typically report directly to the chief executive and/or chairman, became more popular following the global financial crisis of 2008 when risk management and risk

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