Profile of the CRO in Colombia

Nuñez, María Antonia; Villanueva, Eduart

doi:10.14482/pege.49.658.403

Cited by 1 publication

(2 citation statements)

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“…He also agrees with the importance of having clear roles and functions within companies and establishing who takes the lead and makes decisions regarding organisational risks. This evidence has similarities with previous studies that noted the importance of having a person who drives the importance of managing risks and is the leader in front of the organisation (Nuñez & Villanueva, 2020). This shows the progress of medium-sized companies in the sector towards organisations with stable structures and hierarchical levels, also understanding that many of these companies are of family tradition and that the following generations are succeeding the management.…”

Section: Risk Management Structure Actors and Rolessupporting

confidence: 85%

“…It is advisable to have a Chief Risk Officer (CRO) who guides and directs the subject strategically in the organisation, which promotes awareness and responsible management of the situations to which it is exposed and who, in turn, strengthens through appropriate methodologies, tools and techniques the level of maturity that is expected in its development and evolution (Nuñez & Villanueva, 2020).…”

Section: Risk Management Structure Actors and Rolesmentioning

confidence: 99%

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Risk governance in the textile/clothing industry: A case study in medium enterprises

Nuñez,

Villanueva,

Giraldo

et al. 2023

DUTCH J FINANCE MANA

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There are few studies on risk governance in medium-sized companies in the textile/clothing industry because it corresponds to an emerging field in which research is evolving. This is why it becomes a relevant field of study, to continue strengthening the development of these elements of risk management, to create and add value in the management of organisations from this field. In addition, medium-sized companies may have fewer resources to devote to analysis, planning and implementation of the topic than large companies. For this reason, the objective of this study is to analyse the risk governance in this type of company, to identify the guidelines and directives that govern it, describe the relationship between risk governance and corporate governance and, finally, refer to practices of risk culture, accountability and communication implemented under this conception. The study was developed using a methodology with a qualitative approach and descriptive scope. Semi-structured interviews with eight companies and one expert were used as an instrument for collecting information. The main findings of the research highlight that the companies that participated in the study are aware of the importance of structuring risk governance. However, most of the companies interviewed apply it empirically but are interested in working on its development. The need to formalise risk management processes and to consider the appropriate distribution of decision-making according to organisational structure and available resources is evident for medium-sized companies, particularly in the textile/clothing sector, however, this is a suggestion that could serve both nationally in Colombia and internationally and could favour the expected results in all sectors of the global economy.

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Section: Risk Management Structure Actors and Rolessupporting

confidence: 85%

Section: Risk Management Structure Actors and Rolesmentioning

confidence: 99%