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Risk and Compliance Officers

Where Do Chief Risk Officers Come From?

Findings from an Analysis of CRO Career Paths at 50 of the World’s Largest Banks



Findings from an Analysis of CRO Career Paths at 50 of the World’s Largest Banks 

A Brief Note on Data & Methodology

  • In January of 2014, Russell Reynolds Associates initiated a detailed review of the career paths of Chief Risk Officers at fifty of the world’s largest banks (by assets)
  • Our analysis explored the dynamics of each CRO’s appointment to his or her current role:
    • Internal vs. external appointment
    • Those appointed before vs. after the financial crisis
  • Our analysis also explored the senior leadership roles that each individual had held across the course of his/her career (e.g., regional/divisional head of risk, general management, capital markets, etc.)
  • Senior leadership roles were assessed based on thorough reviews of both public and proprietary databases
  • In total, the overarching dataset includes over 1,400 data points

 

Robust Internal Pipelines…And a Post-Crisis Willingness For Change

 

 

The Internal Road to the Top

 

 

Common (and Less Common) Roles on the Route to CRO

 

 

Core Risk Experience

 

 

A Closer Look at Non-Risk Experiences on the Route to the Top

 

 

Three Prominent Shifts in the Route to the Top

 

 

Different Stepping Stones for Internal Promotions and External Hires

 

 

“Check-All-the-Boxes” Profiles are Exceedingly Rare

 

 

Little Gender Diversity Among CROs at Top Banks

 

 

Russell Reynolds Associates helps companies across many different industries and around the globe to address leadership, talent and organizational issues associated with chief risk officers.​​

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Where Do Chief Risk Officers Come From?