Chief Audit Executive to Chief Risk Officer Transition

How do I translate third-line audit leadership into second-line risk ownership?

As enterprise risk management becomes increasingly strategic, interconnected, and board‑critical, Chief Audit Executives (CAEs) are uniquely positioned to step into Chief Risk Officer (CRO) roles. Whether you are a longtime audit leader or an emerging risk executive, navigating the transition from third‑line assurance to second‑line risk ownership—while repositioning your personal brand—can be daunting.​

At The Redick Group, CAE‑to‑CRO transitions show up in executive identity work across audit, risk, compliance, and finance. The same skills that allow a CAE to see across the enterprise—risk sensing, cross‑functional collaboration, and board‑facing communication—can be reframed as core CRO capabilities around risk strategy, appetite, and ownership.​

Career transition for audit executives: from internal audit to enterprise risk leadership

The modern CRO sits at the intersection of strategy, regulation, technology, and capital allocation, translating enterprise‑wide risk into decisions boards and CEOs can act on. Internal audit leaders already understand this landscape deeply; the transition is less about acquiring an entirely new skill set and more about reframing existing experience as proactive risk leadership rather than retrospective assurance.​

For many CAEs, the challenge lies in naming and evidencing this shift in a way that resonates with boards, investors, and search firms. Titles alone rarely tell the full story; what matters is how you describe your role in defining risk appetite, influencing business decisions, and partnering with first‑line leaders on growth, transformation, and resilience.

How to translate third-line audit leadership into second-line risk ownership

Within the Three Lines Model, internal audit occupies the third line, providing independent assurance over both management’s risk taking and the second line’s frameworks and monitoring. CROs, by contrast, lead the second line, setting risk frameworks, orchestrating risk governance, and directly shaping the organization’s risk‑taking posture.​

For CAEs, telling a compelling transitional story often comes down to three moves: evidencing where you have influenced risk appetite and strategy, showcasing times you have co‑owned remediation or control redesign with management, and demonstrating fluency across financial, operational, technology, and non‑financial risk domains. Thoughtful narrative work connects these experiences to CRO expectations without compromising the independence that has underpinned a successful audit career.

Executive identity work for CAE-to-CRO transitions

At The Redick Group, executive identity is treated as a composite representation of your leadership, contextualized through the organizations and situations where you have led. For CAEs pursuing CRO roles, this often means re‑weighting elements of the story: shifting from a control‑ and compliance‑centric narrative toward one centered on enterprise risk strategy, decision enablement, and value creation.​

This work is particularly important for leaders navigating complex contexts such as PE‑backed transformations, heavily regulated environments, or multinational growth. When done well, a refined executive identity not only supports a CAE‑to‑CRO move but also positions you as a candidate for broader C‑suite roles and, where appropriate, board service.

Case studies for CAE to CRO transitions:

Bespoke services for audit executives and Chief Risk Officers

Develop job-search ready materials within established norms

If you're looking for a strategic partner to help prepare you for your transition from Chief Audit Executive to Chief Risk Officer—including comprehensive development of your executive résumé, board bio, and board-focused LinkedIn profile—I may be able to help.

Whether you're a CAE seeking to reposition your audit leadership as enterprise risk management, an audit executive articulating your embedded partnerships with business lines and strategic planning, or a multidisciplinary risk leader demonstrating your ability to own and operate (not just assess) enterprise risk, our process is tailored to showcase both the expected and unique dimensions of your leadership.

If we work together, we can also examine how the audit, risk, governance, and regulatory dimensions of your career might fit on a private or public company board of directors—developing board-branded materials that align with the discretion and expected norms of the world's most influential companies and search firms.

Offerings and what to expect

Thoughtful career moves start here.

If you’re a Chief Audit Executive considering a Chief Risk Officer role—or simply trying to understand how your audit, risk, governance, and regulatory experience might translate into broader leadership or board service—this work is designed to help. Together, the focus is on clarifying goals, articulating your executive identity, and equipping you with materials and messaging that align with the expectations of boards, investors, and search firms operating at the highest levels.