This legislation amends the Financial Stability Act of 2010 to enhance risk management for large financial institutions by mandating the appointment of a Chief Risk Officer (CRO) , regardless of whether they are publicly traded. The CRO must be an experienced professional responsible for overseeing enterprise-wide risk limits, implementing global risk-management governance, and developing systems to identify and address emerging risks and deficiencies. This officer is required to report directly to both the chief executive officer and the risk committee, with a clear mandate to resolve identified risk-management deficiencies promptly. The bill establishes strict protocols for CRO vacancies, requiring companies to notify relevant regulatory agencies within 24 hours and submit a hiring plan within seven days. If a vacancy persists for over 60 days, the company must publicly disclose this fact. Furthermore, the company's total assets are prohibited from exceeding the level recorded on the date the vacancy occurred until a new CRO is appointed.