Nordea Asset Management CRO – a ‘controls freak’ meets Covid

Flexible checks and balances at bank's asset management arm kept risks within tolerance

Søren Agergaard Andersen
Søren Agergaard Andersen

As Nordea Asset Management stared down the barrel of Covid-19 in early 2020, its chief risk officer, Søren Andersen, quickly began to map the various risks the firm would face. Employees working remotely, third-party vendors unable to deliver services and – not least – cyber attacks, were all in his sights.

It quickly dawned on him that the risks had one thing in common: they relied on key controls to function to plan.

“Controls were my main concern. Processes work, but controls are usually in

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