The financial risk managers ensure that we have a good understanding of the credit, interest rate and liquidity risks on our balance sheet, which we measure using models. For example, they assess the financial risks of new investments, calculate how much money we need to set aside for potential credit losses in the future, and set limits and risk appetites that the balance sheet management department must adhere to. The operational risk managers look at the risks in process execution and outsourcing and ensure that incidents are analyzed. They assist with risk assessment of the processes and check whether the agreed controls are being implemented. The Information Security Officer is responsible for protecting information and ensuring that hackers are thwarted. The department head is primarily concerned with the overall view of the risks, particularly the more strategic risks.
Together, the department oversees all types of risks across all parts of Brand New Day. Risk management is at the heart of everything we do. We work closely with other departments. Our management, supervisory board, regulators and external auditors expect us to provide an honest and independent assessment of the risks. Our profession is multifaceted. That makes it fun and challenging. A good risk manager is an expert and knows the best practices. They can explain things simply, are confident and set boundaries, but also contributes ideas about how something can be done. So, they check, are critical and contribute ideas. The question is always: is the risk worth the potential consequences?
To keep Brand New Day secure, we need specialists in risk management in the areas of finance, operations and information security. There are eight of us in total. We are a relatively new team of professionals, with both experienced and less experienced team members and diverse international backgrounds. We increasingly use English as our working language. The atmosphere is informal, we are interested in each other’s work and we take our profession seriously.
“A good risk manager is an expert and knows the best practices. They can explain things simply, are confident and set boundaries, but also contributes ideas about how something can be done.”
Eric – Head of Risk
