Over the last 12 months, the Chief Risk Officer (CRO) of ABC Bank used several techniques to identify any risks that affected the bank. Firstly, the...
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Over the last 12 months, the Chief Risk Officer (CRO) of ABC Bank

used several techniques to identify any risks that affected the bank. Firstly, the teams of the various business units meet regularly to identify and rank the risks pertaining to the business unit. Feedback is provided anonymously, to ensure that all participants are comfortable. These sessions are often followed up with a set of questionnaires to effectively identify risks. The CRO and her team meet with the line managers of the different divisions on the first Monday of each month. During these meetings, the CRO actively encourages everyone to spontaneously share ideas about the risks they face, without the fear of negative responses from other participants. At the end of every quarter, the CRO identifies an important risk and invites a specialist in the specific field to meet with the team to share their knowledge of similar situations. Often, these meetings will be complemented with training videos, which are placed on the company's intranet. It is ABC Bank's policy to carefully record all the important identified risks for monitoring purposes. 


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-what are the five (5) techniques the CRO used to identify risks at ABC Bank.Motivate your response by connecting each technique you have established with the relevant information from the case study above.

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