CNO promotes risk chief from in-house

Carmel, Indiana-based CNO Financial Group has promoted Tim Bischof to become chief risk officer (CRO), effective June 20. The CRO role is a new one at the company, according to a spokesperson.

Bischof has been CNO’s senior vice president for corporate actuary and enterprise risk management since 2013. He continues to hold that position in addition to being CRO and reports to CFO Paul McDonough.

NYSE-listed CNO Financial Group is a holding company whose insurance operations include Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company. Its client base is primarily middle-income pre-retirees and retirees.

The CRO role means Bischof is charged with responsibility for risk-management strategy at CNO and its insurance businesses. He now leads practices related to risk governance and advises company leaders on embedded and emerging risks.

Bischof joined the company in 2011, since when he has held senior positions overseeing valuation, asset liability management, enterprise risk, expense management, reinsurance, capital management, strategic risk functions and M&A. Before joining CNO, he worked as an actuary for six years with Indianapolis Life and CIGNA Corp.

‘Tim brings a deep understanding of CNO and our businesses to his expanded role of [CRO],’ McDonough says in a statement. ‘Strategic risk management is fundamental to CNO’s continued growth and the delivery on our commitments to policyholders and shareholders. Tim’s extensive insurance industry background in both enterprise risk management and corporate actuarial is an important addition to our leadership team.’