Amends Section 165(h) of the Financial Stability Act of 2010 (12 U.S.C. 5365(h)) by striking and inserting terms, redesignating paragraph (4) as paragraph (7), and inserting a new paragraph (4) establishing requirements for a chief risk officer.

Companies required by this subsection must appoint a chief risk officer selected from individuals with experience identifying, assessing, and managing risk exposures of large, complex financial firms.

The chief risk officer must establish enterprise‑wide risk limits and monitor compliance with those limits.

The chief risk officer must implement and maintain ongoing compliance with policies and procedures that establish risk‑management governance, risk‑management procedures, and risk‑control infrastructure for the company’s global operations.

The chief risk officer must develop and implement processes and systems to implement and monitor compliance with the policies described above, including: (I) processes and systems to identify and report risks and risk‑management deficiencies (including emerging risks) and to ensure timely actions to address them; (II) processes and systems to establish managerial and employee responsibility for risk management; (III) processes and systems to ensure the independence of the risk‑management function; and (IV) processes and systems to integrate risk management and controls with management goals and the company’s compensation structure for global operations.