Non-Executive Director and Chief Risk Officer SIG

Purpose of the group

The purpose of the ‘NEDs & CROs’ Group is to provide a forum for Non-Executive Directors and Chief Risk Officers to come together to discuss how effective risk management takes place from the top down. The objective of this Group is to provide a 'vertical specialism' promoting best practices and discussing board governance and risk related matters.

Relevance to the risk community

Global Corporate governance codes have stressed that effective risk management requires the appropriate people and resources to be in place. Ultimately, the responsibility for risk management rests with the board comprising of Non-Executive Directors, whilst that board needs to have confidence that they are delegating day-to-day responsibility to a suitably skilled and competent person, such as a Chief Risk Officer. Together, these senior professionals are responsible for overseeing new risks and opportunities which may include digital disruption, geo-political and economic volatility, environment and sustainability responsibilities and social change.

Aims and Objectives

Key priorities for discussion:

• Risks relating to Governance. e.g. not moving fast enough with Board composition changes

• Finessing relationships. CROs with Chairs of Board Risk Committees

• Board Macro subjects to include Environmental Social and Governance (ESG)

• Topical Board risk related issues. How are boards facing (global) issues affecting their organisations e.g currently it is Coronavirus

• Being a contemporary CRO/NED. Critical for remaining up to date on new/emerging topics

• Emerging Risks. Horizon scanning and emerging technologies



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Group Co-Chair: Aileen Wallace 

Group Co-Chair: Socrates Coudounaris 

Committee members:

Michael Bartholomeusz 

Alex Hindson

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Future events 

Operational Resilience - what this means to you as NED/CRO

Operational resilience is not only a strategic imperative but a new set of challenging regulatory requirements which will come into force in the next few months. The increased focus on operational resilience and regulatory scrutiny, coupled with the current pandemic has elevated operational resilience into the boardroom. 

The purpose of this roundtable session is to bring together a number of expert practitioners to provide different perspectives as follows:

- José Morago CFIRM will introduce the topic and share some thoughts on what operational resilience means for Boards

- Jenny Birdi will cover some of the practical challenges for the Board (and the interaction with senior management) based on her experience with leading the operational resilience programme at HSBC

- Socrates Coudounaris CFIRM will chair a roundtable discussion with Jose, Jenny, Aileen and Ronan

- Q&A 


Socrates Coudounaris CFIRM, Executive Director of Risk at RGA

Dr. Jenny Birdi, Head of Operational Risk and Risk Strategy at HSBC UK
Providing an operational resilience implementation perspective 

José Morago CFIRM, Managing Director at Axon Risk Advisory 
Providing an overview of regulator’s expectations for NEDs on the operational resilience agenda

Ronan McCaughey, Deputy Editor and Commercial Editor of InsuranceERM
Providing an overview from an industry perspective 

Aileen Wallace CIRM, Portfolio NED
Providing a NED’s perspective



Monday 30th November 2020


16:00 - 17:00 GMT


Please click here to register


Past events 

NED & CROs, creating strong partnerships


Wednesday 10th June 2020


10:00 - 11:30


Launch event for NED & CRO SIG


Monday 27th April 2020


12:00 - 14:00