But when you give them a larger remit, and structure teams with some owning "value" and and others essentially owning "risk", the risk teams tend to attract navel-gazers and/or coasters. They wield their authority like a whip without regard for business value.
The problem is the incentives tend to be totally misaligned. Instead the team that ships the "value" also needs to own their own risk management - metrics and counter metrics - with management holding them accountable for striking the balance.