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CHIEF RISK OFFICER: Day To Day Activities

About this video 

Chet is a Chief Risk Officer (CRO). CROs generally make sure their company is under full compliance with whatever regulations they must follow. Chet talks about what he does on a daily basis, his educational path and what he wished he knew.

School: Miami University
Degree: Finance
Job Title: Chief Risk Officer

Job Summary: Information Security Analysts, Web Developers, and Computer Network Architects

Job Description

Information security analysts, web developers, and computer network architects all use information technology (IT) to advance their organization's goals. Security analysts ensure a firm's information stays safe from cyberattacks. Web developers create websites to help firms have a public face. Computer network architects create the internal networks all workers within organizations use.

On-the-Job Training

None

Additional Info

Employment of information security analysts, web developers, and computer network architects is projected to grow 22 percent from 2010 to 2020, faster than the average for all occupations. Job prospects for all three occupations should be favorable.

Quick Facts

Average salary
Average salary
National Statistic Change Location
Confirm
$45,000 - $75,000
Projected job growth
Projected Job Growth
20 to 30 percent
Typical schedule
Typical schedule
Full-time
Typical workplace
Typical workplace
Remote, Home, Indoor, Office, Military
Personal qualities
Personal Qualities
Analytical skills, Creativity, Organizational skills, Problem solving skills, Teamwork, Detail oriented, Mathematical skills, Technical skills, Written communication skills

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P3.instances[0].transcript.parse_transcript_data({"transcript":"<p><span m='100'>My</span> <span m='170'>name</span> <span m='310'>is</span> <span m='600'>Chet</span> <span m='1040'>Andrews.</span> <span m='1680'>I'm</span> <span m='1850'>the</span> <span m='1950'>chief</span> <span m='2380'>risk</span> <span m='2650'>officer</span> <span m='3190'>for</span> <span m='3730'>Unidos</span> <span m='4280'>Financial</span> <span m='4750'>Services.</span> <span m='5910'>And</span> <span m='7010'>I</span> <span m='7160'>look</span> <span m='7480'>at,</span> <span m='8700'>from</span> <span m='8890'>the</span> <span m='9010'>financial</span> <span m='9600'>side,</span> <span m='10180'>any</span> <span m='11350'>risk</span> <span m='12080'>that</span> <span m='13300'>the</span> <span m='13430'>company</span> <span m='13800'>might</span> <span m='14060'>have</span> <span m='14380'>in</span> <span m='15040'>conducting</span> <span m='15480'>the</span> <span m='15580'>financial</span> <span m='16020'>transactions</span> <span m='16330'>that</span> <span m='16640'>we</span> <span m='16830'>process.</span> </p><p><span m='18000'>Every</span> <span m='18250'>day</span> <span m='18420'>is</span> <span m='18550'>different.</span> <span m='19720'>Looking</span> <span m='20480'>at</span> <span m='21620'>regulations</span> <span m='22510'>and</span> <span m='22620'>requirements</span> <span m='23360'>from</span> <span m='23770'>government</span> <span m='24130'>agencies</span> <span m='24870'>that</span> <span m='25040'>are</span> <span m='25210'>looking</span> <span m='25590'>over</span> <span m='26590'>financial</span> <span m='27100'>institutions</span> <span m='27900'>and</span> <span m='28020'>payment</span> <span m='28350'>processing.</span> <span m='29910'>That</span> <span m='30070'>would</span> <span m='30180'>include</span> <span m='30670'>the</span> <span m='31190'>CFPB,</span> <span m='32390'>FTC,</span> <span m='33640'>the</span> <span m='33760'>Fed.</span> </p><p><span m='34742'>And</span> <span m='36510'>compliance</span> <span m='37150'>is</span> <span m='37210'>becoming</span> <span m='37740'>a</span> <span m='38270'>growing</span> <span m='38620'>concern,</span> <span m='39440'>and</span> <span m='39550'>that's</span> <span m='39740'>where</span> <span m='40000'>risk</span> <span m='40290'>is.</span> <span m='40560'>So</span> <span m='40950'>are</span> <span m='41090'>we</span> <span m='41250'>moving</span> <span m='41560'>money</span> <span m='41900'>for</span> <span m='42140'>anybody</span> <span m='42600'>who</span> <span m='42780'>is</span> <span m='43700'>on</span> <span m='43880'>a</span> <span m='43930'>sanctions</span> <span m='44550'>list</span> <span m='45040'>or</span> <span m='45300'>a</span> <span m='45740'>OFAC</span> <span m='46120'>list,</span> <span m='46640'>or a</span> <span m='47500'>company</span> <span m='47940'>that's</span> <span m='49030'>funding</span> <span m='49440'>anti-terrorist</span> <span m='51100'>activities,</span> <span m='51880'>or</span> <span m='52010'>laundering</span> <span m='52380'>drug</span> <span m='52650'>money?</span> <span m='53650'>Those</span> <span m='53860'>kind</span> <span m='54030'>of</span> <span m='54100'>things.</span> </p><p><span m='55150'>My</span> <span m='56140'>education</span> <span m='56890'>was</span> <span m='57740'>I</span> <span m='57940'>got</span> <span m='58130'>a</span> <span m='58220'>B.S.</span> <span m='58730'>in</span> <span m='58890'>finance,</span> <span m='60910'>and</span> <span m='61200'>from</span> <span m='61430'>there,</span> <span m='61790'>I</span> <span m='61810'>went</span> <span m='62050'>to</span> <span m='62160'>work</span> <span m='62460'>for</span> <span m='63300'>a</span> <span m='63390'>large</span> <span m='63700'>construction</span> <span m='64230'>company</span> <span m='64670'>in</span> <span m='64790'>the</span> <span m='64870'>finance,</span> <span m='65990'>money,</span> <span m='66350'>cash</span> <span m='66720'>management</span> <span m='67220'>area.</span> <span m='68100'>So</span> <span m='68790'>learned</span> <span m='69060'>about</span> <span m='69360'>payment</span> <span m='69720'>processing,</span> <span m='70530'>checks,</span> <span m='71430'>ACHs</span> <span m='72090'>wire</span> <span m='72400'>transfers.</span> <span m='73730'>And</span> <span m='75720'>from</span> <span m='75975'>there,</span> <span m='76460'>it's</span> <span m='76620'>been</span> <span m='76870'>several</span> <span m='78190'>payment</span> <span m='78610'>processors,</span> <span m='79490'>banks,</span> <span m='80090'>and</span> <span m='80270'>now</span> <span m='81890'>I'm</span> <span m='82110'>chief</span> <span m='82400'>risk</span> <span m='82650'>officer</span> <span m='83020'>for</span> <span m='83180'>a</span> <span m='83250'>company</span> <span m='83670'>that</span> <span m='83850'>does</span> <span m='84840'>money</span> <span m='85120'>service</span> <span m='86720'>facilities</span> <span m='88180'>for</span> <span m='88380'>unbanked</span> <span m='88890'>underbank.</span> <span m='89790'>So</span> <span m='89960'>people</span> <span m='90260'>that</span> <span m='90340'>cash</span> <span m='90660'>checks</span> <span m='91590'>and</span> <span m='91710'>then</span> <span m='91900'>top</span> <span m='92240'>up</span> <span m='94320'>phone</span> <span m='94690'>cards,</span> <span m='95450'>buy</span> <span m='95780'>preloaded</span> <span m='96450'>cards,</span> <span m='97390'>send</span> <span m='97720'>money</span> <span m='98030'>to</span> <span m='98390'>relatives</span> <span m='99000'>in</span> <span m='99100'>foreign</span> <span m='99420'>countries.</span> <span m='100740'>That kind</span> <span m='101200'>of stuff.</span> </p><p><span m='102150'>I</span> <span m='102300'>would</span> <span m='102490'>probably</span> <span m='102930'>say</span> <span m='104590'>I</span> <span m='104850'>have</span> <span m='105030'>learned,</span> <span m='105740'>but</span> <span m='106140'>it's</span> <span m='108040'>anything</span> <span m='108490'>that's</span> <span m='108690'>a</span> <span m='108790'>regulatory</span> <span m='109360'>environment--</span> <span m='110030'>and</span> <span m='110070'>the</span> <span m='110150'>financial</span> <span m='110690'>world</span> <span m='111070'>is--</span> <span m='113160'>requirements</span> <span m='113720'>change.</span> <span m='114280'>So depending</span> <span m='114733'>on</span> <span m='115640'>how</span> <span m='116100'>the</span> <span m='116430'>government</span> <span m='117580'>views</span> <span m='117970'>your</span> <span m='118240'>industry,</span> <span m='119310'>regulations</span> <span m='120040'>get</span> <span m='120230'>tighter,</span> <span m='120720'>and</span> <span m='120820'>then</span> <span m='121000'>they</span> <span m='121120'>get</span> <span m='121300'>looser.</span> <span m='121820'>And</span> <span m='121990'>it</span> <span m='122100'>depends</span> <span m='123300'>who's</span> <span m='123510'>in</span> <span m='123620'>Congress,</span> <span m='124140'>who's</span> <span m='124340'>president,</span> <span m='124940'>who's</span> <span m='125250'>doing</span> <span m='126020'>whatever.</span> <span m='126540'>And</span> <span m='127570'>the</span> <span m='127720'>requirements</span> <span m='128350'>in</span> <span m='128530'>the</span> <span m='128710'>money</span> <span m='129120'>transmitting</span> <span m='129800'>area</span> <span m='130289'>have</span> <span m='131110'>grown</span> <span m='131420'>significantly</span> <span m='132220'>over</span> <span m='132390'>the</span> <span m='132490'>last</span> <span m='133150'>several</span> <span m='133430'>years.</span> </p>","file":{"id":590200,"video_id":"","name":"2994-Chet - Chief Risk Officer.mp4","duration":134211,"thumbnail_url":null}});

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