Enterprise risk management

If Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role of the board of directors in such a process?
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As indicated above, if Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company?
Should a Chief Risk Officer (CRO) be appointed?

If so, to whom should he/she report and have access to?

How could smaller companies without the resources for a dedicated CRO deal with ERM?
What is the role of the board of directors in such a process?

Select at least 2 other students’ threads

Post substantive comments on those threads by evaluating the pros and cons of that student’s recommendations.
Your comments should extend the conversation started with the thread.