Banking with purpose: Jacob Kooter Laading is NIB’s new Chief Risk Officer

“I think the idea that you do banking for a purpose, which is not just multiplying the money, and the fact that this in some ways is your main reason for existing—that’s a driver,” says Jacob Kooter Laading, NIB’s new Vice-President, Chief Risk Officer, and Head of Risk & Compliance. He joined the bank’s Executive Committee on 24 March at the Helsinki headquarters. A Norwegian national with extensive experience in risk management and quantitative analysis, Jacob Kooter Laading shares insights into his motivations for joining NIB and outlines his approach to navigating risk.

Jacob Kooter Laading has held several senior roles at his latest employer DNB—Norway’s largest financial services group—managing large capital market transactions, market and liquidity risk, and modernising the operational risk function. Previously, he served as Director of Portfolio Risk Management at the EBRD, overseeing board risk reporting, market, and model risk.

He holds a PhD in Statistics from Duke University and also serves as an associate professor at the Norwegian University of Science and Technology (NTNU).

What about NIB’s mission and vision captivated you enough to join the Bank in Helsinki?

I think it was a combination of additionality and IFIs as a concept, which is something I know from having worked in EBRD for a few years in London, combined with the culture that I met during the interview process.

In addition to that, NIB is interesting for someone who’s worked across the different disciplines within risk, but without the overall responsibility for everything. So taking on that role is a really interesting challenge that I feel ready for. But I think that the sector additionality, the joint work around something that is not purely for profit, that is mandate-driven. And the warm and welcoming culture that I met in the interviews was probably the deciding factor.

Why does the IFI status specifically appeal to you?

Several things. I think the idea that you do banking for a purpose, which is not just multiplying the money, and the fact that this in some ways is your main reason for existing—that’s a driver. And of course, I have a strong affinity for the Nordic-Baltic region.

And then the other thing of course, which is more maybe a frustration over regulation, having worked in commercial banking for a few decades and seeing how much it’s multiplied. Regulation is of course necessary, but sometimes seems unnecessarily cumbersome. So also being in an unregulated area of the financial world and being able to find ways to leverage that with the mandate and mission in mind is very attractive.

How would you describe yourself, and what would those who know you well say?

Well, I always wonder what people say about me, but no, I’m naturally curious about people. I think that’s one aspect of me that’s come through more and more clearly. And somewhat related to that, I also have a strong interest in family history. So I’m interested in people and who they are, and maybe to some extent how they became that way, including myself.

Then I have a strong interest in the wider world of football. I have to say I am an avid fan of football as a sport, but I also care deeply about the wider mission of football because I’ve seen how much being a club member, how much good football teams can do in their social mission, which a lot of them take quite seriously. And that has actually become something that I’m very impressed by and interested in.

What is your team?

My team is Brann of Bergen, which is sort of my local passion. And then having lived in London for three years, I became an avid Fulham fan.

What drives you personally and professionally?

I think the feeling of joint mission is another big driver. The one thing that I really don’t take well is if people don’t collaborate, because that goes so against that sense of mission. Developing people, seeing people grow and flourish, is really important to me. I’ve stayed actively involved in education basically since I left university. I will also continue supervising  master’s students as part of my affiliation with the Norwegian University of Science and Technology.

How does risk management at an IFI like NIB differ from other contexts?

It’s leveraging the unregulatedness while adhering to relevant best practice, coupling mandate to risk and finance. We can do more than commercial banks, pick and choose which parts of the finance world we focus on when it comes to our limits and outer boundaries. That’s something very different.

What emerging risks or trends do you foresee shaping risk management?

The dual but opposing forces of global interconnectedness and fractured geopolitics are going to dominate the risk picture for years to come. The trick is understanding the second-order effects—flows of money, liquidity, market movements, and volatility. These trends emphasize resilience and regional cooperation, aligning closely with NIB’s mandate.

Any worries or concerns?

Of course. It’s impossible not to think about the situation between Russia and Europe and how tangible that feels for many of our member nations. It creates a lot of uncertainty. Additionally, the political situation in the U.S. is dire, and similar issues might emerge in Europe if politicians don’t effectively address disenfranchised populations.

What are your first impressions of Helsinki?

I first visited Helsinki around 2010 as a representative of EBRD during summer, and it was absolutely lovely. Then I came back for my interviews in November, and Helsinki was brutally honest. Finland and Helsinki feel quite young compared to other Scandinavian countries but open, airy, and beautiful. I like it.

Closing thoughts on starting at NIB?

The level of competence and engagement I’ve seen in the team is impressive. I’m really looking forward to working with them.

Laading succeeds Hilde Kjelsberg, First Vice-President, Chief Risk Officer, and Head of Risk & Compliance, who retired in December 2024.