Which national security and geopolitical risks are relevant to your business?
In an ever-changing world, boards and top management teams are confronted with new and complex risks that are crucial to identify, understand, and proactively manage.
Three reasons why boards and top management teams should place risks related to national security and geopolitics at the top of their agendas in 2024:
Commercial risk
National security and geopolitics have become commercial risks. Regulations such as sanctions, the Norwegian Security Act and conditions for foreign investments impact operations and strategy. This is compounded by the risks of espionage and sabotage, both physically and in the cyber realm, along with the accompanying expectations from authorities and the public for businesses to contribute to national security. Geopolitical events can swiftly and unpredictably impact a company's value chain. Furthermore, collaborations or indirect connections that have not been adequately risk-assessed can lead to serious repercussions for a company's reputation and earnings.
Board and top management responsibilities
The board and the top management team are accountable for ensuring that the business maintains robust risk management at all times. The business must be structured to identify, understand, and manage both current and future risks through efficient systems and procedures. In this context, national security and geopolitics are becoming increasingly relevant.
Knowledge and competitive advantage
Beyond ongoing risk management, boards and top management teams need to be adept at seizing the opportunities that arise from planning for potential future scenarios. Possessing in-depth knowledge of the business's risk profile, capitalizing on commercial opportunities, and being prepared for crisis management can provide a distinct competitive edge.
The most important board meeting of 2024?
A 2 x 45 minute workshop
Thommessen is offering a unique workshop that delivers insights into how national security and global events directly affect your business. We base our approach on four overarching questions:
- Sensitive information What information does the business have access to that can be considered sensitive?
- Vulnerabilities Are there any vulnerabilities that can be exploited to harm the business?
- Geopolitical influence Is there anything the business depends on that can be affected by changes in the geopolitical landscape?
- Future regulatory development What regulations might arise in response to geopolitical developments or issues related to national security, with the potential to alter the business's operating conditions?
In two 45-minute sessions, you will receive a thorough review of how your business positions itself in today's threat and risk landscape. This includes specialized knowledge enhancing and specifying the general picture presented in public threat assessments from the government.
Part 1
- Threat- and risk assessment applicable to your sector and to your company specifically
- Board and top management responsibility, and possibilities for addressing and handling applicable risks
Part 2
- Practical approach: Identification of specific applicable risks and recommended approach
Our specialists
Hedvig Moe and Elin Ibsen Gustavsen, possess unique knowledge about geopolitical developments and the national threat landscape, and the commercial risks they pose. Together with your Thommessen lawyer, they offer a workshop that is tailor-made for your business.
Hedvig Moe
Specialist Counsel // Advokat
Hedvig leads Thommessen's work with strategic risk advisory and compliance, focusing particularly on business and national security and crisis management, in addition to authority control and criminal law. Hedvig has acquired unique knowledge of topics such as geopolitics, security policy, and foreign intelligence through leadership roles in the Norwegian Police Security Service (PST) the National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim).
Contact information
Elin Ibsen Gustavsen
Specialist Advisor
Elin holds a Ph.D. in military sociology, and has spent several years as a researcher in the Norwegian Armed Forces. Before joining Thommessen, she worked for five years in the Norwegian Police Security Service (PST), where she was responsible for developing strategic analyses of the threat scenario in Norway. Elin's extensive experience provides her with deep insights into the impact of security-political developments on Norwegian business.
Contact information
For more information or to schedule a workshop, please contact us or your lawyer at Thommessen.
Oslo
Ruseløkkveien 38 0251 Oslo P.O. box 1484 Vika NO-0116 Oslo
Bergen
Vestre Strømkaien 7 5008 Bergen P.O. box 43 Nygårdstangen NO-5838 Bergen
Stavanger
Kirkegata 2 NO-4006 Stavanger
London
Paternoster House 2nd floor 65 St Paul’s Churchyard GB-EC4M 8AB London