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How COVID-19 has shaped the operational resilience of Knab Bank
Journal of Securities Operations & Custody,
13
(3),
202-207
(2021)
Abstract
In this paper, I describe the learning skills of the risk team and the chief risk officer (CRO) when acting on the COVID-19 crises that emerged in the world in 2020. Being a digital bank made it easier for us to continue our operations in the lockdown situation, but still Knab had to solve many issues that did arise. Also, the lockdowns worked as an accelerator for improving the digitisation of our competitors. The base of our success is our company and risk culture. We strive to learn continuously and are open to taking intelligent risks. As a result, we create an ability to learn faster than others. This might after all be the only sustainable competitive advantage.
Keywords: risk culture; resilience; digital bank; operational risk
The full article is available to institutions that have subscribed to the journal.
Author's Biography
Ebbe Negenman PhD, is employed as the Chief Risk Officer of AEGON Bank (including Knab). Before he worked as Head of Regulatory Risk at ABN AMRO in Amsterdam and was involved innovation projects for Risk Management at ABN AMRO bank. Previously he worked as a Managing Director Risk Management at ING Bank in Amsterdam and Hong Kong.
