Chief Risk Officer

The Reserve Bank of India has asked chief compliance officers and Chief Risk Officers (CROs) to be proactive and take pre-emptive measures to mitigate risks. Addressing a conference of heads of assurance functions (i.e., chief compliance officers, CROs and heads of internal audit) of all Scheduled Commercial Banks (SCBs), RBI Deputy Governor M Rajeshwar Rao sought a forward-looking perspective of risks and initiate pre-emptive measures to mitigate risks. He further exhorted the assurance functions to work in collaboration with each other and avoid silos within the banks to provide for a holistic assurance to stakeholders. Speaking at the conference held on Wednesday, RBI Deputy Governor Swaminathan J outlined the central bank's supervisory expectations, and asserted that supervision is effective when supported by effective assurance functions.

Prior to joining BharatPe, Kuppuswamy was chief risk officer at SBI Cards for more than 14 years, where she led a number of key projects

Mortgage lender may raise equity capital before closing Q4 of FY23

The hiring spree is expected to jack up costs for the industry

Efforts to identify key personnel risks need to increase by many notches, given the amount of investments being made in technology, and the number of digital transactions

The possibility is that high calibre chief risk officers in the PSBs already earn Rs 1 crore to Rs 2 crore, whereas even SBI chairman could be earning less than Rs 30 lakh

CRO will be entitled to voting rights in finance companies which use a committee structure to clear high-value loans with CRO as panel member