 For example, if the CRO were involved in the finance industry, a postgraduate education along with at least ten years of experience in accounting, economics, internal audit, risk management, strategic planning, or actuarial backgrounds would typically be a common characteristic along with many years in the banking sector.Along with their extensive knowledge of the rules and regulations in finance, they usually would have held a position in the first/mid-level management up to senior executive for their past qualification in the industry.Having to understand the compliance with government regulations such as Sarbanes Oxley of 2002, it is common for CRO's to have also held a Chief Financial Officer position prior to becoming a Chief Risk Officer.