Chief Risk Officer Committee
The Chief Risk Officer (CRO) Committee consists of those representatives of ICI members firms whose core focus is risk. The Committee provides these senior risk officers of fund complexes a forum to discuss the panoply of risk issues – including operational, investment, global, and enterprise-wide concerns – that arise within a fund complex.
Key Issues of Interest
The key issues of interest for the CRO Committee are any issues relating to risks that may be of concern to fund complexes – including the identification of risks and their mitigation, oversight, and reporting. The Committee provides CROs a forum to discuss risk issues of concern to them, to hear from outside experts on topics of interest to the Committee, and to share risk resources. In addition, the Committee engages with the ICI on any regulatory initiatives (domestic or global) that may impact the risk function or operations of ICI member firms.
Committee Meetings
The Chief Risk Officer Committee typically meets four times a year, once each quarter. With one exception, the Committee meets virtually. The one exception is an in-person meeting each fall. This in-person meeting consists of two parts. The first part is a meeting of the Committee’s members; the second part is a joint meeting with members of ICI’s Internal Audit Committee. The agendas for CRO Committee meetings typically consist of updates on any regulatory or risk-related issues impacting members; outside experts speaking on a topic of interest to the Committee; member panels on topics chosen by the Committee; and issues members raise for discussion. These virtual meetings are supplemented by virtual educational sessions on topics of interest to the members. These educational sessions typically consist of industry experts on the topic and/or CROs with experience on it sharing their experience and expertise. In addition to the Committee meetings, ICI engages with the Committee through the publication of memos and emails that keep members apprised of issues of interest to them or issues that may affect them.
Committee Members
Membership Information
Membership on the Committee is limited to persons whose sole or core responsibility within a fund complex is risk or risk oversight. As a result, the Committee’s membership consists primarily of chief risk officers or chief investment officers who have the ultimate responsibility for managing or overseeing investment or enterprise risk within the firm. Each member firm may have up to two individuals on the Chief Risk Officer Committee so long as they are each eligible for committee membership based on these criteria.
