I saw the latest Lion King movie recently and, as so often happens when a train of thought gathers pace, alighted on quite an unexpected thought. Very few genuinely new things ever happen. Notable events more or less just repeat themselves. To wit – reprised versions of Hakuna Matata, not to mention the recent Dumbo and Aladdin remakes; the renaissance of double denim; Spice Girls on tour. And, peering ominously around every corner like a ’significant birthday’… another economic downturn.

Despite the fact that recessions are an accepted part of the great circle of life (although you’ll be disappointed if you’re expecting to find any mention of Basel III in the song lyrics), and the general public’s still-visible distrust of banking and financial services following the 2008 downturn; our banks continue to play a prominent role in the global economy. According to annual figures published by The Banker, British banks increased profits by a third last year, albeit still building back from historically low levels of profitability.

To ensure continued success of any institution, business or enterprise, it is vital to understand the risks it faces. It’s all too easy to become complacent when riding the high wave of success.

The key to avoiding, or mitigating, any threat is to plan for it. Before that can be done, the threats need to be identified and fully understood in the context of each individual situation.

Read the full white paper "The circle of life - mitigating risk in the financial services sector".

To chat more about the challenges facing financial services institutions, please get in touch with me.