PCAOB Announces New Office of Enterprise Risk Management, Names Chief Risk Officer
The Public Company Accounting Oversight Board announced it has created a new Office of Enterprise Risk Management to implement the Board’s strategic objective of implementing an Enterprise Risk Management (ERM) program for the organization.
The Office of Enterprise Risk Management will be led by Sue Lee who has been named the organization’s first Chief Risk Officer. Ms. Lee leads the PCAOB’s work to establish an ERM program and oversees the organization’s risk management, compliance, ethics, and security programs.
ERM is a framework used to identify potential events that may affect an organization, manage the associated risks and opportunities, and provide reasonable assurance that an organization’s mission, vision, and strategic objectives will be achieved.
"In connection with our strategic planning process last year, the Board undertook an organizational assessment that revealed the need to transform our approach to risk management," said PCAOB Chairman William D. Duhnke. “The Board is fortunate to have Sue’s vast experience, leadership, and expertise as we work toward achieving one of our key strategic objectives.”
Prior to joining the PCAOB, Ms. Lee was Senior Vice President, General Counsel, and Corporate Secretary of Entegris, Inc., a publicly traded chemicals and materials company. In this role, she managed the company’s legal, compliance, privacy, corporate governance, enterprise risk, and government affairs functions. Before joining Entegris, Ms. Lee was the Vice President, General Counsel, and Corporate Secretary for CYREN, Ltd., a publicly traded cybersecurity company.
Ms. Lee has also served in various legal, compliance, and risk advisory roles at Fortune 500 companies, including Viacom and Genzyme, and was an attorney in New York City at the law firm Cleary Gottlieb Steen & Hamilton. She earned her bachelor’s and law degrees at Harvard University, where she graduated magna cum laude.