Large corporations are creating a new position known as a chief risk officer (CRO). This new position is a result of the many laws and regulations that corporations must avoid violating.

The CRO is charged with the task of monitoring all kinds of risks. As a result, they must be knowledgeable in the law, accounting, regulatory compliance, insurance, technology, currency fluctuations and much more.

A chief risk officer's job is to evaluate such things as the company's accounting policies and procedures, its technology network, regulatory compliance, monetary policy, insurance risks, and just about anything else that could create a risk for a corporation. The CRO is in charge of making sure that the company does not incur damage from one of these risks by examining all of the above and more before a potentially damaging incident occurs.