In this article, Graeme Keith dives into the limitations of traditional risk matrices and presents an alternative approach to risk management. By exploring the need for a model that better aligns with real-world decision-making, Keith highlights the shortcomings of compliance-driven exercises and offers a framework that allows businesses to better assess and prioritize risks across the enterprise.
In a year shaped by war, elections, cyber threats, and the steady march of artificial intelligence, the European Insurance and Occupational Pensions Authority (EIOPA) didn’t just keep pace but it stayed focused. Its newly released 2024 Annual Report tells the story of a regulator under pressure, facing a storm of digital, political, and economic disruption, yet managing to deliver across a wide policy front.
In Graeme Keith's latest article, he explores the limitations of heat maps in risk assessment and why quantitative risk analysis is essential for effective Enterprise Risk Management (ERM). By using two hypothetical risk scenarios, Keith highlights the significant gaps in traditional risk matrices and advocates for a more rational, analytical approach to risk prioritization and aggregation. Through his analysis, he emphasizes the need for a deeper understanding of risk impacts, beyond surface-level assessments.
As the global economy continues to navigate the aftershocks of Russia's invasion of Ukraine and the global trade war, Norway's financial system remains relatively stable but not without challenges. Despite moderate growth over the past two years, the Norwegian economy is confronting mounting uncertainties. Inflation and interest rate hikes have presented significant challenges, while high household debt and property price imbalances continue to pose risks to the financial sector.
In a recent discussion with a trusted colleague, Stefan, the Head of Risk and Governance at a major UK retail company, I was reminded of an essential lesson in governance, risk management, and compliance (GRC). This conversation, held one evening in Mayfair, focused not just on the tools and platforms available today, but on the true value of GRC, and why too many organizations miss the point. If you're looking for a deeper dive into the ROI-focused conversation that sparked this reflection, I recommend reading my article GRC Value: It’s More Than Just ROI, which explores the need to look beyond mere efficiency and towards strategic objectives.
As political measures in the U.S. continue to evolve, with tariffs and a weakening dollar dominating the news cycle, Danish credit institutions are facing heightened credit risks. This trend was discussed extensively by the Danish Financial Supervisory Authority (DFSA) in a series of consultations with the largest credit institutions in Denmark in April 2025. These developments have led to increased uncertainty, especially in sectors dependent on export markets, and have prompted a reassessment of impairment needs across various portfolios.
ASIC Commissioner, Kate O'Rourke, recently took center stage at the Responsible Investment Association Australasia (RIAA) Conference, where she shared her insights on how ASIC is helping Australia’s financial sector navigate the growing importance of climate-related financial disclosures. While O'Rourke emphasized that these regulatory changes are big, she also clarified they are an opportunity for businesses to take charge of climate risk and show the market they’re ready for the future.