HKA ‘From Tick Box to Tactical Advantage’ article examines how outdated FC risk assessments can leave firms exposed, reinforcing regulators expectations for forward-looking, risk-based frameworks

The article highlights key failures such as tick-box approaches, lack of data, poor methodology, weak governance, and limited coverage of evolving risks and stresses that risk assessments must become dynamic tools that actively guide decision-making. Ultimately, firms that embed scenario analysis, continuous updates, and strong governance can transform risk assessments from a compliance exercise into a strategic advantage…