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Answer: Although the CRO is responsible for top-level risk management, he is not responsible for the analytical or systems capabilities for risk management.
## Explanation Let's analyze each option: - **A. The CRO should provide the vision for the organization's risk management.** - **ACCURATE**: According to the text, the CRO is responsible for "providing the overall leadership, vision, and direction for enterprise risk management." - **B. In addition to providing overall leadership for risk, the CRO should communicate the organization's risk profile to stakeholders.** - **ACCURATE**: The text states the CRO is responsible for "communicating the company's risk profile to key stakeholders such as the board of directors, regulators, stock analysts, rating agencies, and business partners." - **C. Although the CRO is responsible for top-level risk management, he is not responsible for the analytical or systems capabilities for risk management.** - **LEAST ACCURATE**: This statement is incorrect because the text explicitly states the CRO is responsible for "developing the analytical, systems, and data management capabilities to support the risk management program." - **D. The CRO may have a solid line reporting to the CEO or a dotted line reporting to the CEO** - **ACCURATE**: This is a common organizational structure in risk management. Therefore, statement C is the least accurate as it contradicts the explicit responsibilities outlined in the text.
Author: LeetQuiz Editorial Team
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Which of the following statements regarding the responsibilities of the chief risk officer (CRO) is least accurate?
A
The CRO should provide the vision for the organization's risk management.
B
In addition to providing overall leadership for risk, the CRO should communicate the organization's risk profile to stakeholders.
C
Although the CRO is responsible for top-level risk management, he is not responsible for the analytical or systems capabilities for risk management.
D
The CRO may have a solid line reporting to the CEO or a dotted line reporting to the CEO
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