In an interview with Delano recently, he discussed how risk management has evolved to become a strategic part of business and how Trinova aims to bring more than governance and substance to the boards it services.  

“Risk management has evolved to become a truly complex profession and a strategic part of companies,” he began. “If you want to launch a new product, for example, you need risk and compliance at the development stage and throughout the entire lifecycle.”

According to Dobbins, risk and compliance now play an active role asking, “How can we, instead of we can’t,” as was often the case in the past. “Nowadays risk takes a proactive approach in adapting to regulation and takes a holistic view of how the business is run.”

Even what is considered a risk has changed dramatically over the years. “It has moved from financial reporting to include environmental reporting,” Dobbins explained. “People have become more environmentally conscious and shareholders, investors and employees are asking questions.”

“Not only that, but people are also increasingly aware of environmental issues,” he added, “and if companies want to recruit, they need to be transparent on ESG (environmental, social and governance) practices.”

In any case, environmental reporting is part of the EU Action Plan on Sustainable Finance that was published in May 2018 and includes, “incorporating climate risks into banks' risk management policies and supporting financial institutions that contribute to fund sustainable projects.” 

So, the future of risk and compliance includes ESG and this is something that Dobbins feels Trinova is uniquely positioned to bring to the boards it services. 

“How we look at independent directorship and advisory is different. Our directors are active industry experts and practioners who bring ESG experience to the board. It is a critical area that cannot be underestimated and will become more important as one of the specialities we will focus on.”

Biography:

Before joining Trinova, Martin Dobbins was the CEO and country head for State Street Bank Luxembourg and chaired the country executive group. He was the lead executive to the European Central Bank’s joint supervisory team.

Until 2007, he was the EMEA regional director for State Street Europe responsible for the transformation strategy and outsourcing. Dobbins was the first COO for State Street Bank Luxembourg, responsible for the Luxembourg and Belgium groups. He was also the director of operations and technology and a member of the executive board for State Street GmbH in Munich, Germany.

Dobbins has held a number of board and committee chair positions in Alfi (Association of the Luxembourg Fund Industry) and ABBL (Luxembourg Bankers Association) and is well-known in the industry as chairperson for the Luxembourg Depository Banks representing the Luxembourg financial service industry at the European level on regulatory matters. For further info: www.trinovagroup.com.