Qualified Risk Director 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 Directors 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 Director 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 Director guidelines: