Key Conclusions from Transform Finance Conference in Frankfurt

L&M PRISK participated in this year’s Transform Finance Conference that took place in Frankfurt on 5 September. The conference revealed three major trends in political risk analysis and management. Firstly, against the backdrop of escalating geopolitical tensions and the global threat of terrorism, political risks for companies and banks are currently increasing massively. Political risk factors and constellations must be considered in their entirety. Secondly, KYC screenings must be carried out thoroughly and comprehensively before signing contracts and onboarding. Software checks alone and superficial checks to just meet legal obligations are no longer sufficient. In fact, this traditional approach is associated with massive risks, today. Thirdly, companies need comprehensive risk analysis and management models. It is no longer enough for individual company departments to simply collect and save data and view risks separately from one another. As panelists emphasized, the work of political risk managers will thus increase significantly and become more interesting in the coming years. Interpretations and comprehensive assessments by experts will be more important than ever before.

At the conference, Hannes met Josephine K. Vanek, CB -Trade Finance & Lending (TF&L) Operations - Embedded Risk Management at Deutsche Bank.