Insurance Australia Group (IAG) has announced that chief risk officer (CRO) David Watts has resigned from the group after three years.
In his three years at IAG, Watts had driven a sizeable work programme to strengthen risk management and uplift risk culture across the organisation.
Commenting on Watts's contributions, IAG managing director and CEO Nick Hawkins said: “A key achievement is the successful delivery of our risk maturity program, which has improved our risk systems, policies, and processes and launched our integrated risk management system.”
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According to Hawkins, Watts felt that it was the right time to take on a new challenge after years of delivering on all his commitments and ensuring that the risk maturity programme in the company would finish up at the end of the year.
IAG confirmed that Watts will continue as its CRO into the new year. However, an internal and external executive search process will start soon to replace him.