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      On Thursday, 16 October 2025, KPMG in Belgium welcomed a community of senior risk leaders, regulators, and industry professionals to its Brussels office for an event dedicated to an increasingly strategic topic, “The Future of the Risk Function.”

      In an environment defined by accelerating technological disruption, shifting macroeconomic conditions, and evolving regulation, participants explored how organizations can transform risk management into a driver of strategic value.

      The event opened with a keynote by Henning Dankenbring, Head of KPMG’s ECB Office (KPMG Frankfurt), followed by a dynamic panel discussion featuring Frédéric Lardo (Deputy Head of Division, Strategic Risk & Analytics, ECB), Tom Franck (Chief Risk Officer, Bank J. Van Breda & C°), Robin Janssen (Director of Credit Risk Management, Crelan), and Henning Dankenbring, who joined the debate to share additional perspectives from both supervisory and advisory lenses.

      The discussions concluded with two interactive breakout sessions on financial and non-financial risk management, reflecting the dual priorities of today’s risk agenda.

      Koen De Loose Partner, Head of Financial Services | Advisory
      Koen De Loose

      Partner, Head of Financial Services | Advisory

      KPMG in Belgium

      Keynote: Navigating the future of Risk in a transforming world

      In his keynote, Henning Dankenbring set the stage by outlining the macroeconomic and structural shifts transforming the risk function.

      Macroeconomic outlook:

      While moderate GDP growth, low unemployment, and contained inflation suggest stability, fiscal uncertainties, public debt pressures, and bond market volatility continue to pose significant systemic risks.

      The “4Ds” shaping tomorrow’s risk landscape:

      Henning emphasized four megatrends that are redefining risk globally: Deglobalization, Decarbonization, Demographics, and Digitalization. These forces are not only reshaping the operating environment but also demanding a fundamental rethinking of how risk is identified, governed, and integrated into business strategy.

      AI and analytics:

      AI is revolutionizing risk management, enabling predictive modelling, enhanced early warning systems, and greater operational efficiency. When properly governed, AI empowers organizations to move from reactive risk management toward a more proactive, data-driven approach.

      Climate and demographics:

      Henning also underscored that climate change and demographic evolution are long-term structural challenges affecting competitiveness, fiscal sustainability, and growth trajectories across industries.

      Panel perspectives: Redefining risk management for the future

      Following the keynote, the panel deepened the discussion on how risk functions must evolve to remain both strategic and resilient.

      Risk as a strategic partner:

      Panelists agreed that risk management can no longer be confined to compliance and control. It must be embedded within business strategies to enhance decision-making and enable long-term value creation.

      Adapting to global shifts:

      The group discussed how the 4Ds highlighted by Henning translate into day-to-day realities for risk professionals, from supply chain restructuring to decarbonization-linked credit risks and the digitalization of controls.

      AI and RegTech integration:

      The panel emphasized that AI and RegTech are transforming how organizations assess, monitor, and manage both financial and non-financial risks. Regulators are also increasingly adopting these tools to strengthen supervisory efficiency and oversight.

      Governance and accountability:

      A robust and integrated three lines of defense model remains critical to effective risk governance, ensuring collaboration and accountability across the organization.

      Resilience through stress testing:

      As economic uncertainty and market volatility persist, stress testing and asset–liability management are essential to safeguard resilience and ensure sustainable performance.

      Breakout sessions: From resilience to intelligence

      The event concluded with two interactive sessions, giving participants the opportunity to explore practical applications of the day’s insights.

      Breakout 1: Building resilience in a transforming landscape

      Focused on fostering a strong risk culture and leveraging technology to enhance operational resilience, participants were introduced to KPMG’s CtrlAssist AI Agent, a tool designed to strengthen monitoring capabilities and adaptive response frameworks.

      Breakout 2: From models to machines

      This session examined the next generation of credit risk modelling, including the integration of machine learning, model explainability, fairness, and continuous validation – all of which are vital to maintaining trust in automated systems.

      Key takeaways

      1. Risk must be strategic, not reactive

      Modern risk functions should operate at the heart of corporate strategy, anticipating challenges rather than merely responding to them.

      2. AI is transforming the risk landscape

      AI enhances predictive analytics and operational efficiency but must be governed responsibly through clear frameworks and ethical oversight.

      3. Resilience is non-negotiable

      In a volatile environment, robust stress testing, balance sheet discipline, and integrated governance are essential to sustain resilience.

      4. Culture underpins effective risk management

      Strong risk culture fosters accountability and ensures that governance aligns with the organization’s values and ambitions.

      5. AI literacy is the next frontier

      Equipping teams with the skills to understand and challenge AI systems will define the next generation of risk professionals.Modern risk functions should operate at the heart of corporate strategy, anticipating challenges rather than merely responding to them.

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