Is It Time to Appoint a Chief Risk Officer? Key Trends in EPC & Infra

The top 5 focus areas for a Chief Risk Officer (CRO) are aligned with building a strong risk governance framework, ensuring regulatory compliance, and enabling strategic decision-making. Here’s a concise and professional breakdown:

1. Enterprise Risk Management (ERM)

• Develop and implement a comprehensive ERM framework across financial, operational, strategic, and reputational risk domains.
• Conduct periodic risk assessments and scenario planning at the group and business unit levels.
• Integrate risk insights into business planning and capital allocation.

2. Regulatory Compliance & Governance

• Ensure adherence to all applicable laws, regulations, and internal policies.
• Interface with regulators, internal audit, and the board-level Risk Committee.
• Establish internal controls to prevent compliance failures and reputational damage.

3. Operational Risk & Controls

• Identify, monitor, and mitigate risks in day-to-day operations including technology, supply chain, fraud, and cyber threats.
• Drive root-cause analysis for incidents, losses, or near misses.
• Implement key risk indicators (KRIs) and early warning systems.

4. Risk Culture & Policy Framework

• Embed a proactive risk culture across all levels of the organization.
• Define risk appetite, tolerance thresholds, and escalation protocols.
• Train and sensitize employees and leadership on risk awareness and mitigation practices.

5. Strategic & Emerging Risk Oversight

• Advise leadership on macroeconomic, geopolitical, ESG, digital, and industry-specific risks.
• Enable scenario modeling, stress testing, and long-term risk forecasting.
• Align risk insights with M&A, growth strategy, digital transformation, or capital market initiatives.

As organisations strive to navigate risks and build a resilient business, the role of Chief Risk Officer becomes increasingly crucial.

Figure depicting real market trends while directing the essence of a Chief Risk Officer