NEW YORK, June 25, 2018 /PRNewswire/ -- Second Line Advisors, a New York-based executive search firm, today announces the results of an extensive research study examining profiles of Chief Risk Officers (CROs) from leading banks across the U.S. The study collected data on these individuals focusing on statistical observations between 2017 and 2018, examining key factors such as tenure, diversity, external hires and experience.
Second Line Advisors conducts executive search engagements around the globe, representing clientele across banking, asset management, insurance, management consulting and financial technology. The firm specializes in the recruitment of executives in risk management, compliance, financial crime, data management, legal and regulatory affairs. This study was conducted to investigate the profiles of CROs, identifying trends and exploring the current makeup of this essential, evolving role.
- In 2018, the average tenure of a CRO is 3.54 years, contrasted with the 2017 average of 4.10 years.
- 16 out of 50 CROs have held their position for one year or less, and 7 assumed their position within 1.5 years of a CEO change at their respective banks. The average time between these 7 CEO and CRO changes is 8.3 months.
- Of the top 50 CROs, 36% were external hires, 33% of which were diverse.
- 86% of the 50 CROs are male, while only 12% are female.
- For banks with over $250BN in assets, only 1 has a female CRO. The next female CRO does not appear until the bank ranked #18.
- Banks under $250BN in assets account for 91% of CROs with profiles outside of risk, credit, and business.
"In today's climate of risk, regulation and business strategy, the Chief Risk Officer role is a critical leadership position for financial institutions," said Daniel Solo, President and Head of Client Engagement at Second Line Advisors. "It's important for industry executives to understand these trends when evaluating candidates in a competitive talent field."
Download Second Line Advisors' Chief Risk Officer fact sheet for a full analysis.
For media inquiries, contact Binh Nguyen at 866-225-0920 ext. 106 or [email protected].
Second Line Advisors is a leading executive search firm for Risk Management, Compliance, Financial Crime, Data Management, Legal, & Regulatory Affairs. Learn more at www.secondlineadvisors.com.
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SOURCE Second Line Advisors