The hasty U.S. withdrawal from Afghanistan in August 2021 under the Biden administration—and the fallout that followed—along with the Russian invasion of Ukraine in February 2022 and the ongoing war, have created inflationary pressures in international oil, gas, and food prices, roiled global markets, and deeply hurt the economies of Western Europe, deprived of cheap Russian fuel.
One thing is certain—it has spurred a deep interest in concepts such as geostrategy, also known as geopolitics. What in an See more +
The hasty U.S. withdrawal from Afghanistan in August 2021 under the Biden administration—and the fallout that followed—along with the Russian invasion of Ukraine in February 2022 and the ongoing war, have created inflationary pressures in international oil, gas, and food prices, roiled global markets, and deeply hurt the economies of Western Europe, deprived of cheap Russian fuel.
One thing is certain—it has spurred a deep interest in concepts such as geostrategy, also known as geopolitics. What in an earlier age might have been called political and economic risk analysis and regarded as the remit of social scientists—economists, political scientists, and international relations specialists—is now relevant to a wider range of professions.
Most professions and organizations are increasingly finding the need to adopt an interdisciplinary approach to problem-solving because, in the modern world, myopia and compartmentalization can be fatal. In-house general counsel and compliance staff at banking and financial institutions and multinational corporations need to be cognizant of geostrategic risk factors when advising those they report to.
With that backdrop, Chad speaks with Regulatory Ramblings host Ajay Shamdasani on why geostrategic and political risk analysis should matter to the modern compliance officer and lawyer—and, ultimately, their clients. It’s no longer just about giving advice based on rules and regulations; at most multinational corporations and financial institutions, a more interdisciplinary approach is required to keep pace with broader world developments.
The conversation covers what professionals can do to become more knowledgeable about geopolitical risk, what types of remedial education may be needed, and whether it might make sense to hire a political scientist, international relations specialist, or war/security/strategic studies specialist and place them in a compliance or legal department.
“Keep up with the news from multiple reputable sources” is Chad’s key advice.
Similarly, Mark stresses greater awareness of world events by compliance, legal, and risk professionals. Given his law enforcement background, he places a great deal of emphasis on total situational awareness.
Mark also shares his personal, professional, and educational journey—recounting a time when he was homeless and had absolutely nothing. That experience made him keenly aware of the risks people are willing to take to survive—a lesson today’s political and business leaders would do well to learn.
Coming from a humble background—and never forgetting where he came from—Mark explains how geostrategic and political risk analysis enters the equation when advising family offices in Asia and the Middle East. See less -
