Nordea Asset Management CRO – a ‘controls freak’ meets Covid
Flexible checks and balances at bank's asset management arm kept risks within tolerance
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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