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Risk is no longer just about protection¡ªit¡¯s about possibility. In today¡¯s fast-moving financial landscape, Chief Risk Officers (CROs) are no longer confined to compliance; they are emerging as strategic enablers of growth.

Commissioned by the City of London Corporation’s Lord Mayor’s Office, this pioneering research—led by Bayes Business School and The Finsbury Institute—delves into how CROs can unlock value, drive innovation, and help shape the future of risk leadership.

Why this matters

Under the Lord Mayor’s "Growth Unleashed" theme, the UK’s global leadership in financial services depends on fostering an environment where:

  • Risk fuels opportunity—moving beyond prevention to actively encouraging success
  • Regulation and growth go hand in hand—shaping policies that promote innovation while ensuring stability
  • CROs take the lead in value creation—transforming risk management into a catalyst for business success.

Join the conversation

On 21 May, The Rt Hon. the Lord Mayor, Alastair King opened the Chief Risk Officer Summit. Bringing together over 200 CROs, business leaders, and policymakers, to explore evolving role of the Chief Risk Officer as a strategic growth enabler—supported by the findings of this research.

See the

Building on the success of the CRO Summit, the event series will now focus on establishing the foundations of the CRO Network—setting the stage for its launch later this year and inviting leaders to get involved.

Date for online event soon, July 2025.

The research

Optimising Growth: The Evolving Role of the CRO

Ensuring sustainable growth in any organisation is essential. This report examines the evolving nature of the Chief Risk Officer (CRO) role within UK Financial Services firms as they, and their boards, navigate the strategic duality of risk: ensuring threat protection while enabling value creation.