Q1 2025 COO Magazine
Geopolitics Supercharges Strategic & Non-Financial Risk Management
Geopolitics Supercharges Strategic & Non-Financial Risk Management
Since the outbreak of the pandemic, the global COO community has been at the forefront of navigating the shifting landscape of non-financial risk.
In recent years, our focus with our members of the International COO Community (iCOOC) has broadened from traditional risk management to threat management, integrating emerging risk assessment and horizon scanning into a dynamic, forward-looking framework. The evolving nature of these risks, often complex and interwoven, demands a sophisticated response from COOs, placing them at the heart of an organization’s resilience strategy.
Regulatory imperatives have accelerated this evolution. The UK’s Senior Managers and Certification Regime (SMCR) placed a renewed emphasis on Operational Resilience, with the COO (SMF24) responsible for ensuring that by 2025, their organizations present robust, regulator-ready frameworks to address both expected and unforeseen disruptions.
Beyond compliance, this is a strategic imperative, one that will define the ability of firms to remain agile and resilient in an environment where cyber risk, AI disruption, and shifting workforce dynamics are redefining business operations.
Amidst these pressures, geopolitics has emerged as an unparalleled disruptor. As one COO aptly stated, “Geopolitics has been placed on steroids.”
The ability to link geopolitical events to operational impact and risk mitigation strategies remains a nascent discipline within the industry. Yet, entering 2025, the sheer pace and magnitude of global political shifts demand a new level of preparedness, one that will largely fall on the COO’s shoulders to assess, interpret, and address.
Beyond these headline risks, COOs continue to grapple with the cyclical demands of cost efficiencies, compliance, controls, conduct, and culture, all while striving for strategic influence. The challenge is clear: to balance these immediate operational imperatives with a long-term vision that drives growth, revenue, and sustainable wealth creation.
In this edition of the COO Magazine, we delve into the multifaceted challenges and opportunities facing COOs in 2025, offering insights from industry leaders on how the role is evolving and how COOs can position themselves not just as risk managers, but as strategic enablers of business success.
Welcome to the conversation, welcome to a world of disruption.
Maurice Evlyn-Bufton
CEO, Armstrong Wolfe
Q1 2025 Content
Trumpism: Good or Bad for Banking?
The financial services sector, and those leading it, are assessing both opportunities and risks associated with the shift in presidency in the U.S. There are two perspectives, each with merit, and both must be carefully considered through the lens of Non-Financial risk. These views are polarizing and suggest that, in a world where opposites, like the North and South Poles, polar bears and penguins, are never meant to meet this could be the year when such convergence occurs.
Managing Business Risk
Determining responsibilities between the business, risk management and compliance. Time for Resolution: 10 Years of Debate Between the 1st and 2nd Lines of Defences. 2025 marks the tenth anniversary of Armstrong Wolfe’s establishment of the Chief Control Officer forum. A cornerstone initiative of the International COO Community (iCOOC), this forum has served as the central hub for debate, collaboration, and thought leadership on 1st line business risk and controls across Corporate and Investment Banking.
Maintaining Vendor Relationships in the Age of AI
Vendor relationships are like a marriage, in which both parties should have a vested interest and a desire to make the relationship work. We will explore how lessons from a good marriage can be used to maintain an effective vendor relationship as the digital landscape moves into agentive AI territory, with focus on the financial services industry.
Leadership, AI and Building a High-Performance Culture
Leadership is about more than setting direction – it’s about creating an environment where people feel ownership of their work and are empowered to make an impact and culture is the foundation of business success. I believe that the best ideas emerge when people feel a genuine stake in what they are building.
The Case for Promoting a Banking COO to CEO
The traditional pathway to becoming a CEO in financial markets has predominantly favoured individuals from front-office, revenue-generating roles such as sales, trading, or investment banking. However, as industry dynamics evolve, regulatory scrutiny intensifies, and market operations become more complex, the case for promoting a COO to CEO has grown stronger.
Evolution: Controls into Strategic Risk and Resiliency
The role of the first line of defence in the financial markets sector is undergoing a critical transformation. Historically viewed as the operational backbone for maintaining controls and adherence to processes, the first line is increasingly being called upon to broaden its mandate.
The DEI backlash – a good thing?
Do I think the DEI (Diversity, Equity and Inclusion) backlash spreading around the world from the States is a good thing? Do I like what President Trump is saying and doing on DEI? Do I applaud those major companies which have announced that they are abandoning or reducing their DEI initiatives? Do I support those activists and critics who are loudly trying to undermine the business case for DEI? Do I think that DEI has no place in a UK government strategy focused on economic growth? Do I think DEI is bad for business? Err, no, six times over no (obvs.).
Harnessing Neurodiverse Talent in Financial Services: Strategies for Inclusion and Innovation
In recent years, the conversation surrounding diversity and inclusion has expanded to encompass not just traditional markers such as race, gender, and age but also neurodiversity. Neurodiverse individuals, including those with autism spectrum disorder (ASD), ADHD, dyslexia, dyspraxia, and other neurological differences, bring unique skills and perspectives that can significantly benefit industries like financial services. However, many organisations still grapple with how to effectively recruit, support, and retain neurodiverse talent.
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Armstrong Wolfe Member Events
Armstrong Wolfe is excited to unveil a series of transformative events designed to empower our members within the financial services sector. These gatherings will offer a platform for insightful discussions and networking opportunities that foster collaboration and thought leadership.
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WCOOC Programme 2025
T-Shaped Leadership
What do you need to do to ensure you have sufficient depth in one area to demonstrate experience, but also broad experience of many areas to help lead?
Armstrong Wolfe and National Australia Bank welcomed the AW Women in the COO Community group to a panel session at NAB’s London offices. With a panel of senior women elaborating on their experiences in understanding and developing their own leadership capabilities, and a networking session to follow, the evening explored the nuances of T-shaped leadership – balancing deep expertise with the ability to collaborate across multiple functions.
The discussion highlighted the importance of adaptability, communication, and influence in driving effective leadership, particularly in complex and evolving business environments. Attendees gained valuable insights from the panel’s personal experiences and engaged in meaningful conversations during the networking session, fostering connections and shared learning within the community.
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