Risk & Resilience

In this candid and thought-provoking piece, Norman Marks challenges conventional definitions of risk and risk management, arguing that most frameworks fail to resonate with how real-world decisions are made. Drawing from his decades of executive experience and referencing the ideas of Grant Purdy and Roger Estall, Marks reframes “risk” as simply “what might happen”, a practical, plain-English approach that bridges the gap between theory and management reality.

The Dutch Authority for the Financial Markets (AFM) and De Nederlandsche Bank (DNB) are warning that the Netherlands’ financial system is becoming increasingly fragile, not because of balance sheets or liquidity, but because of its digital backbone.

The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), and the Office of the Comptroller of the Currency (OCC) have jointly withdrawn their Principles for Climate-Related Financial Risk Management for Large Financial Institutions, rescinding guidance that had been in place since October 2023 in a major policy reversal.

Technology does not create good risk management. Strategy does. Risk, by its nature, is not the enemy. As I often remind listeners on the Risk Is Our Business podcast, the company that avoids risk altogether is already obsolete. The task isn’t to eliminate uncertainty, it’s to orchestrate it. To take the right risks, at the right time, with purpose, visibility, and confidence.

The European Supervisory Authorities are preparing to enter 2026 with one of their most consequential joint programs to date, a year that will test the strength of the EU’s new digital resilience architecture while reshaping how consumer protection, sustainability, and supervision converge across sectors.

In his latest article, Graeme Keith explores the foundations of risk modeling in his latest piece, tracing its roots from ancient mathematics to modern decision-making. He argues that models should begin with real-world problems, not abstract equations, and makes the case for why risk modeling must remain intelligible to decision makers.

Europe’s top central bankers are sounding the alarm that now is not the time to go soft on bank regulation. At a gathering in Amsterdam, officials from the European Central Bank and the Bank of England pushed back on calls to cut red tape, warning that rolling back rules could sow the seeds of the next crisis, Reuters first reported.