Qualified Risk DirectorTM Guidelines
On June 5, 2013, the Directors and Chief Risk Officers group (“the DCRO”) issued its guidance to organizations seeking to better govern risk through the identification and recruitment of Qualified Risk DirectorsTM to their boards of directors and risk committees of the board.
In the spirit of the Audit Committee Financial Expert, where specific board members are designated as experts in the analysis of financial statements and control processes, the Qualified Risk DirectorTM guidelines were developed by an international group of active board directors and chief risk officers to assist organizations of all kinds in the governance of risk, helping them to better achieve their goals.
The guidelines are designed for voluntary adoption, inclusion by regulators in ongoing assessments, or in the development of future legal requirements. They have been included as a resource in the 2014 OECD Risk Management and Corporate Governance handbook.
Below is a small sampling of press coverage of the Qualified Risk DirectorTM guidelines:
How to hire a Qualified Risk Director - Corporate Risk and Insurance
A Board’s Eye View of Risk Management - NACD Directorship
Qualifying a Director as a Risk Expert - The Institute of Internal Auditors
The DCRO issued Qualified Risk Director Guidelines - Financial Risk Institute