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Boards Must Elevate Risk Strategy to Meet Volatile Market Demands
Ron Cathcart, Vice Chair of Natixis US Risk Committee, shares how boards can elevate their oversight by embracing strategic risk dialogue, refining information flow, and embedding scenario analysis in a volatile global environment. Cathcart underscores the importance of board composition, management alignment, and a forward-looking mindset.
Jun 17, 2025
Ron Cathcart
Ron Cathcart, Vice Chair, US Board Risk Committee, Natixis US Holding
Tags: Resilience
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

Ron Cathcart emphasizes that the relationship between boards and risk management must evolve beyond compliance toward strategic collaboration.

In today’s high-volatility environment, Cathcart argues that boards must be informed, inquisitive, and unafraid to challenge management. They should engage deeply in strategic discussions—especially around risk appetite—and ensure presentations are focused on meaningful insights, not surface-level indicators.

He also highlights the growing need for scenario-based planning to anticipate disruptions, stressing that management must present data-driven “what-if” scenarios to guide board decisions. A strong understanding of the competitive landscape and emerging risks like AI, cyber threats, and geopolitical shifts is vital.

Ultimately, Cathcart advocates for a board that’s not just reactive but actively shaping the organization’s risk posture and long-term success through integrated, forward-thinking oversight.

Ron Cathcart Bio

Ron Cathcart is a nationally recognized expert in Enterprise Risk with an accomplished record in banking and supervision in the financial services industry. Leveraging a range of corporate, government, and entrepreneurial experience in the US and abroad, including five years at the Federal Reserve Bank of New York, Ron positions organizations for long-term success through good governance, growth-focused fiscal policies, effective risk management frameworks, and impactful executive leadership. As a strategic advisor, Ron guides senior leaders at large, multi-national firms and regional banks in setting and implementing the strategies that drive goal-aligned progress. With a career spanning multiple C-suite roles at top global financial institutions, function head at the New York Fed, and most recently, Partner of the Risk Practice at Promontory Financial Group, Ron brings a trusted expert perspective to affect foundational business practices and policies. Ron leads with steadfast commitment to integrity, ethical governance, and transparency. Throughout his career, he has faced organizational challenges and high-profile conflicts with probity. Most notably, Ron provided extensive testimony before the US Senate as a key government witness in its investigation into the 2008 financial crisis and management activities at Washington Mutual. Because of his work, Ron was appointed first as Head of Credit and then Head of Enterprise Risk Supervision at the New York Fed, where he led 260 supervisors in overseeing 15 systemically important financial institutions. Joining Promontory Financial Group, Ron directed the Risk Practice that provided strategic advisory services to financial services firms around the world. He advised CEOs and executive teams as a thought leader on global capital markets, enterprise risk management, financial risk, banking, financial services, governance, audit, and regulatory compliance. Ron brings a growth mindset to shape an organization for the future. He is passionate about mentoring young professionals and helping leaders hone their skills to achieve their goals. Ron has extensive experience on the Board and Finance, Audit, and Governance Committees of several community and non-profit organizations. He also sits on the Board of Natixis Bank S.A. as Vice Chair of the US Board Risk Committee, and sat on the Board and Risk Management Committee at Juniper Bank. Ron holds an MBA from the Richard Ivey School of Business at the University of Western Ontario, where he was selected as a Foreign Service Scholar for the Canadian Embassy in Australia, as well as a bachelor’s degree from Dartmouth College. CAREER PROGRESSION Promontory Financial Group | Managing Director, Risk Practice Federal Reserve Bank of New York | Head Of Enterprise Risk Supervision | Head Of Credit Columbia Capital Consulting | Chairman And Chief Executive Officer (CEO) Washington Mutual | Chief Risk Officer Canadian Imperial Bank Of Commerce (CIBC) | Executive Vice President, Retail Risk Management JPMorgan Chase (Formerly Bank One) | Chief Risk Officer Royal Bank of Canada | Chief Risk Officer, Personal & Commercial Division BOARD OF DIRECTORS EXPERIENCE CORPORATE: Natixis Bank S.A. (Vice Chair, US Risk Management Committee) • Juniper Bank (Board Member, Risk Management Committee) NON-PROFIT: Seattle Opera Company (Finance & Audits Committee) • Act Theatre (Governance Committee) • Enterprise Community Partners • Junior Achievement • Fraser Institute • National Children’s Opera Chorus • Etobicoke Center For Children & Families

Ron Cathcart
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