Bank Chief Risk Officers Under Increasing Pressure as Recession Looms

PHILADELPHIA and NEW YORK, Dec. 1, 2022 /PRNewswire/ -- Chief Risk Officers are balancing a wide range of demands heading into 2023 – a year in which many emerging risks may be realized, the CRO Outlook 2023 study by the Risk Management Association and global management consultancy Oliver Wyman has found. In addition, North American bank CROs representing institutions with assets ranging from $25 billion to over $1 trillion say economic worries and the need to prepare for potential recession are piling on top of non-financial risks like consumer compliance, cyber threats, and climate risk.