More chief risk officers being introduced into company management structures

More UK companies are introducing chief risk officers (CROs) within their management structure, according to Eddie McLaughlin of Marsh.

Eddie McLaughlin, who co-presented yesterday’s workshop, ‘From Risk Management to CRO’, says that, while the appointment of CROs has become commonplace in highly regulated industries such as financial services, it is also becoming more prevalent in other sectors.

“Some risk managers are concerned about whether they have the requisite skill sets to make that transformation,” comments McLaughlin. “It can be difficult if you come from an insurance background to take on a CRO role which may require a good knowledge of hedging strategies for example.”

He says that Marsh can provide training and bespoke courses. “For example, we recently arranged training for someone who had been appointed CRO of a Middle East company.”