Collecting Data on Risk and Articulating Risk

D.

CRO is the individual who oversees all aspects of risk management across the enterprise.

Chief risk officer has the main accountability for collecting data and articulating risk.

If there is any fault in these processes, then CRO should be answerable.

Incorrect Answers: A: Enterprise risk committee are the executives who are accountable for the enterprise level collaboration and consensus required to support enterprise risk management (ERM)

They are to some extent responsible for articulating risk but are not accounted for it.

They are neither responsible nor accounted for collecting data on risk.

B: Business process owner is an individual responsible for identifying process requirements, approving process design and managing process performance.

He/ she is responsible for collecting data and articulating risk but is not accounted for them.

C: CIO is the most senior official of the enterprise who is accountable for IT advocacy; aligning IT and business strategies; and planning, resourcing and managing the delivery of IT services and information and the deployment of associated human resources.

CIO has some responsibility towards collecting data and articulating risk but is not accounted for them.

The role that is responsible for collecting data on risk and articulating risk is the Chief Risk Officer (CRO). The CRO is responsible for overseeing the organization's risk management function and ensuring that risks are identified, evaluated, and managed appropriately.

The Enterprise Risk Committee (ERC) is a committee responsible for overseeing the organization's overall risk management function. The ERC is responsible for setting the organization's risk management policies and ensuring that risks are identified and managed appropriately. However, the ERC is not directly responsible for collecting data on risk or articulating risk.

The Business Process Owner (BPO) is responsible for managing a specific business process within the organization. The BPO is responsible for ensuring that the process is efficient, effective, and compliant with relevant laws and regulations. While the BPO may be responsible for identifying risks associated with their specific business process, they are not responsible for collecting data on risk or articulating risk for the organization as a whole.

The Chief Information Officer (CIO) is responsible for overseeing the organization's information technology (IT) function. The CIO is responsible for ensuring that the organization's IT systems are efficient, effective, and secure. While the CIO may be responsible for identifying IT-related risks, they are not responsible for collecting data on risk or articulating risk for the organization as a whole.

In summary, the role that is responsible for collecting data on risk and articulating risk is the Chief Risk Officer (CRO). The CRO is responsible for overseeing the organization's risk management function and ensuring that risks are identified, evaluated, and managed appropriately.