Ep 68 - Why Geopolitical Risk Matters to Compliance and Legal Staff

Episode #68 with Chad Olsen and Mark Nuttal 🎧 

In a world where politics and regulation intersect, compliance and legal professionals can no longer afford to ignore geopolitical risk. From the fallout of the U.S. withdrawal from Afghanistan to Russia’s war in Ukraine, the global regulatory landscape has been reshaped by conflict, sanctions, inflation, and cross-border disruption.

In this episode, host Ajay Shamdasani speaks with two experts who explain why understanding geostrategy is now a core part of legal and compliance work—not a nice-to-have, but a must-have.

Chad Olsen (Head of Forensic Services, KPMG China) discusses how regulatory expectations are shaped by political agendas, especially in the areas of sanctions, AML, and financial crime. Drawing on his dual background in finance and political science, Chad explains:

 - Why legal and compliance teams need geopolitical awareness
 - How FATF, U.S. DPAs, and other instruments are inherently political
 - Why understanding “why” a regulation exists is as important as “what” it requires
 -  Whether firms should hire IR or political risk specialists—or build internal capability
 -  How professionals can upskill themselves by staying informed and asking deeper questions

Mark Nuttall (Executive Advisor, Dubai) builds on this by offering a strategic risk perspective shaped by 25+ years in law enforcement, global advisory, and geopolitical intelligence. Mark shares:

 -  How global events impact compliance obligations and institutional risk
 -  Why FATF grey listing has real consequences for regulatory pressure and market perception
 -  The compliance officer’s role in navigating shifting norms, sanctions, and cross-border uncertainty
 -  The importance of total situational awareness for anyone responsible for governance or risk
 -  Why proactive scenario planning is more effective than reactive policy-following

The central question: In an era of rapid change, what must compliance and legal professionals do to stay relevant—and keep their organizations resilient?

Whether you’re in a law firm, bank, fintech, or multinational, this episode shows how geopolitics has become embedded in compliance. Understanding international developments isn’t a soft skill; it’s a core strategic competency.

Topics covered:
– Geostrategy and regulatory design
– Sanctions, FATF, and political enforcement
– Interdisciplinary compliance: law meets global affairs
– Upskilling for geopolitical fluency
– Strategic foresight in legal and compliance functions

Disclaimer: The views expressed in this podcast are solely those of Ajay Shamdasani, Chad Olsen, and Mark Nuttal.

The Regulatory Ramblings podcast is brought to you by The University of Hong Kong's Reg/Tech Lab (Building Better Financial Systems), HKU-SCF FinTech Academy, Asia Global Institute, and HKU-edX Professional Certificate in FinTech, with support from HKU Law. The program is led by Douglas Arner and hosted by Ajay Shamdasani. For more details and links, please visit: www.hkufintech.com/regulatoryramblings

HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.