February 16, 2026
As regulatory pressure increases and non-financial risks become critical, fund managers face higher expectations on governance and resilience. Erik Elkan, Risk Manager at Permian in Sweden, discusses the changing role of risk and how Permian in Sweden supports managers through this shift. Erik, you work with risk management for Permian in Sweden. Can you tell us a bit more about your area? At Permian, we work with Swedish Alternative Investment Fund Managers (AIFMs) that have outsourced their risk management function to us. Our specialist team covers all risk requirements under laws such as AIFMD, AIFMR, and relevant local regulation, acting as designated risk managers. We work across different asset classes and fund structures, providing both strategic guidance and regular oversight. What are the main risk-related challenges fund managers face today? Fund managers operate in an environment where risks are more diverse and fast-moving than ever. Cybersecurity and third-party dependencies remain critical, while ESG and climate-related expectations are rapidly intensifying. At the same time, new frameworks such as the Digital Operational Resilience Act (DORA) and upcoming AI Act are reshaping operational risk requirements. How do your risk management services support clients? We help fund managers stay ahead by continuously updating risk frameworks, integrating risk awareness and operational resilience into their systems, and ensuring that both governance and reporting withstand regulatory scrutiny. Permian offers a complete, ready-to-implement risk management function that integrates directly into a fund manager’s governance framework. We follow an annual risk management plan, complemented by ad-hoc assessments as needed, to support regulatory compliance and operational resilience. Our services include risk policies and procedures reviews, regulatory monitoring, risk assessments for funds and manager, and stress testing, as well as regular board reporting. Our approach combines tailored models across key risk areas with structured reporting to senior management, making risk management efficient, transparent, and aligned with supervisory expectations. Why do fund managers choose Permian as their risk partner? Our clients partner with Permian for access to an established framework, specialised tools, and a multidisciplinary risk team that can scale with their business. This allows fund managers to focus on investment performance while maintaining strong regulatory control. Looking ahead, how do you see the risk landscape evolving? Technology such as AI, data analytics, and automation will increasingly shape how risks are identified and managed. Non-financial risks and geopolitical uncertainty affecting market risk are moving to the forefront alongside tighter regulatory expectations. In this environment, fund managers need a trusted, long-term risk partner who understands the full scope of risk management. At Permian, we are preparing for this shift by developing scalable, technology-supported risk frameworks grounded in regulatory expertise and backed by professionals with deep insight into both regulation and business reality. With a fully outsourced function, we act as a trusted professional with a clear understanding of the evolving risk landscape. Read more about our Risk Management Services here.
