How the Global Financial Crisis Redefined Risk

In this conversation, Julien Haye is joined by Jeff Simmons, Head of Advisory Group and Risk & Compliance Lead at ALBA Partners, and former Chief Risk Officer at MUFG Securities Europe. With over two decades in global banking and regulatory leadership, Jeff shares candid reflections on how risk management must reconnect to purpose, people, and performance.

“Good CROs are not good scientists. They’re good risk managers who understand business.” – Jeff Simmons

In this edition of RiskMasters, you will learn:

• How regulatory relationships built on trust can become a strategic asset

• Why effective governance depends on proportionate execution and delivery discipline

• The cultural shifts needed to close the gap between strategy, appetite, and action

• How to educate boards and teams to make confident decisions with imperfect data

• Lessons from Brexit, DORA, and regulatory divergence on sustaining resilience

⏱️ Episode Highlights

00:02 – From CRO to advisor: why Jeff redefined his purpose
00:14 – Lessons from the financial crisis and the evolution of the risk function
00:31 – Building trust and transparency with regulators
00:44 – Making governance practical: from plans to delivery
00:57 – Culture, tone from the top, and psychological safety
01:05 – The future of risk: reconnecting risk and finance

📌 More about Jeff Simmons
Jeff Simmons is a senior advisor and risk governance expert with ALBA Partners, specialising in regulatory transformation, culture, and risk-function effectiveness. A former Chief Risk Officer at MUFG Securities Europe, he has led major licensing and Brexit-related programmes and continues to advise firms on building credible governance frameworks.

👉 Connect on LinkedIn: https://www.linkedin.com/in/jeff-simmons-608254a/

🎓 Continue your learning: Enrol in the Risk Leadership CPD Masterclass.

📝 Related Resources:
• Appetite as a Strategic Capability – Framework linking ambition, capacity, and governance to strengthen decision alignment.
• The Hidden Constraint Behind Strategy and Governance – Understanding risk capacity as the foundation of credible board oversight.
• Guiding Principles for an Effective Control Environment – Twelve principles for designing ownership-driven, performance-oriented controls.
• Building Trust with Regulators – Turning supervisory dialogue into a partnership that improves governance credibility.
• Psychological Safety in Risk Management – How leadership tone and escalation culture shape foresight and resilience.
• From Approval to Impact: Repositioning Risk Appetite as a Board Tool – Practical steps to embed appetite into strategic execution.
• Change Management Risk Assessment Framework – A step-by-step guide for aligning transformation programmes with risk capacity and tolerance.

🎓 Download your CPD certificate:
The CPD Group – Accreditation #800148

Episode Credits:
Produced by Aevitium LTD
Edited by Julien Haye
Design: Julien Haye