Leadership role
Chief Risk Officer
Identifies and assesses the risks an organization faces, whether financial, operational or clinical, and directs how they are managed.
Reporting and scope
Reports to the Executive Director / CEO or CFO / Head of Finance, with access to the board's audit or risk committee. Authority covers enterprise risk management across the organization.
Core responsibilities
- Runs the enterprise risk assessment and risk register
- Oversees insurance, claims and captive insurance where present
- Coordinates risk responses across departments
- Reports major risks to the board committee
- Works with clinical leaders on patient safety and liability in health settings
- Supports business continuity and emergency planning
How it differs
The Chief Compliance Officer handles regulatory compliance, a narrower field. The Chief Quality Officer focuses on quality and safety of services, while the Chief Risk Officer covers financial and legal exposure too.
By organization size
Dedicated risk officers are found mainly in large health systems, universities and financial nonprofits. Elsewhere the finance lead handles insurance and risk.
Filings from the last five years mapped to this role commonly report titles such as: Chief Risk Officer; SVP/Chief Risk Officer; Chief Risk Management Officer; SVP Chief Risk Officer; SVP, System Chief Risk Officer; SVP & Chief Risk Officer