Thread by @SAH16928046

I still don't know why so many IAD Officials detested my work at some firms where I was chosen to work as a CRO/ Lead Risk Consultant?
After all, the Risk Desk and the IAD should work as partners, but, I do feel there is an unspoken rivalry between these two lines of defence.

Turfs warfare?
Internal Audit was the bespoke risk management desk before Risk Desks were set up by the corporate boards across the globe.
Auditing and Credits Departments at Banks are bigger adversaries of Risk as an independent reporting function compared to the business desks.

You can add #CFO in charge of Finance to the list of another back-office function/ department which hates to work with the #CRO, Chief Risk Officer.
I remember my encounter with a Head of Finance at a bank, who insisted on computing capital charges & CAR using @BIS_org weights

Unfortunately, Risk faces more opposition from Back and Middle Offices instead of Front Offices at times, which reduces firm-wide loss absorption capacity and weakens the 3LOD Model.
No #ERM Framework can work without #GRC Coordination.

Please do share your experience of working as a risk manager/ officer by contributing to this mini-thread.
I would be interested in learning from your direct experiences.
Risk Management needs more voices at this forum.
Let us contribute!
Thx!!
@GARP_Risk