Regulatory churn over the past decade has ballooned prudential banking law in both scope and complexity. Nordea teamed up with Aalto EE to design a customized training program for its legal experts across the Nordics, presenting an overarching look at prudential legislation as it stands today.
“We wanted training that would work for a very diverse group of lawyers and other regulatory experts, emphasizing big-picture thinking and culminating in an exam,” explains Sakari Wuolijoki, General Counsel for Large Corporates and Institutions in Nordea.
He underlines that the primary goal was not a deep dive into the ins and outs of prudential legislation.
“For lawyers and other regulatory experts, absorbing information is everyday work. There’s no point in arranging a program that just summarizes thousands of pages of regulation. We wanted training that would highlight key principles and spark critical discussion and thinking.”
We wanted training that would highlight key principles and spark critical discussion and thinking.”
For Wuolijoki, it was obvious that a university or a university-affiliated institution would be the right partner to develop this kind of training..
“My own university background likely influenced this thinking,” Wuolijoki says with a smile. Beyond his extensive responsibilities at Nordea, he also keeps one foot in academia, for example, as a docent at the Faculty of Law of the University of Helsinki.
“Universities approach research and teaching with an emphasis on the broader principles and underlying frameworks of a field – perspectives you rarely explore in daily work. They encourage the kind of deep reflection we wanted to spark in our people.”
Top International Instructors
After considering leading training providers in both Finland and Sweden, Nordea opted to design the program with Aalto EE. Wuolijoki says the decision came down to expertise in delivering customized executive education.
While prudential banking law is not one of Aalto University’s core areas of expertise, delivering world-class executive education is our key skill here at Aalto EE.”
“Aalto EE’s flexibility and ability to tailor the program exactly to our needs stood out clearly from the competition,” Wuolijoki says.
Bella Sillman, Account Director at Aalto EE, explains that developing the program with Nordea was a refreshing experience.
“While prudential banking law is not one of Aalto University’s core areas of expertise, delivering world-class executive education is our key skill here at Aalto EE,” she says.
“I knew that Aalto University’s Professor Vesa Puttonen would be an excellent fit for this program, and once he was on board, I cast the net wide to find the best international experts to complement our faculty.”
Wuolijoki says he was impressed by the caliber of the instructors Aalto EE brought in.
“They got all the relevant names we had hoped for, along with a couple of really good finds – international heavyweights in prudential banking law,” Wuolijoki says.
An Overarching Perspective
Spanning six months, Nordea’s tailored training included eight sessions in total, beginning and ending with full days at Aalto EE in Helsinki, and complemented by six online modules held by both leading academics and Nordea’s own experts.
For Nordea’s lawyers and other regulatory experts, the training proved valuable across very different backgrounds.
The program exceeded my expectations. It gave me a chance to step back, look at different risk areas, and gain an overarching perspective on prudential legislation.”
Based in Helsinki, Senior Regulatory Manager Henrik Wickström from Regulatory Affairs works with regulatory topics on a daily basis.
“I’m quite specialized in certain parts of prudential banking law, but not across the full scope – so this training was very much on point for me,” he says.
“The program exceeded my expectations. It gave me a chance to step back, look at different risk areas, and gain an overarching perspective on prudential legislation.”
Emelie Klefbeck works as Senior Legal Counsel for Large Corporates & Institutions in Stockholm. She specializes in structured financings.
“I was impressed with how the training managed to be relevant for such a diverse group,” she notes. “The program gave me a clearer sense of the ‘why’ behind many processes. Ultimately, I think it made me a better lawyer for the business.”
“The opening day at Aalto covered the background and rationale of European prudential banking regulations. It was a particular highlight – as were the sessions on capital assessment and different ratings models. These questions are kind of a hot topic within my field, so I found these sessions especially interesting,” she says.
For both Klefbeck and Wickström, one of the training’s biggest strengths was the mix of perspectives. Leading academics set the stage, while Nordea’s own experts brought the lessons home.
The program gave me a clearer sense of the ‘why’ behind many processes. Ultimately, I think it made me a better lawyer for the business.”
“When we talked about capital adequacy, for instance, we first had a very engaging external expert guide us through the theory – and then shifted to an internal session with our own top specialists, who showed us how things are actually applied at Nordea. The combination of theory and practice made the training very beneficial,” Wickström says.
The exam at the end turned out to be an unexpected highlight.
“I hadn’t taken an exam in more than a decade, and I was surprisingly nervous. For a moment there, I felt almost like I was back at university as a law student,” Klefbeck says with a laugh. “But in the end, I was very glad we had an exam. It was a great recap of everything we’d covered, and it definitely improved my long-term memory.”
Fruitful Collaboration with Aalto EE
Looking back, Wuolijoki says the program delivered precisely what Nordea had set out to do: it motivated, encouraged and engaged participants, sharpening their capacity for reflection and enhancing their confidence in addressing complex regulations.
Working with Aalto EE was a pleasure. They contributed valuable suggestions to the course outline we had envisioned, and were remarkably flexible throughout the entire process, adapting everything just as we hoped.”
He asserts that creating the training with Aalto EE was a very positive experience.
“Working with Aalto EE was a pleasure. They contributed valuable suggestions to the course outline we had envisioned, and were remarkably flexible throughout the entire process, adapting everything just as we hoped.”
“I’m happy to recommend Aalto EE to companies worldwide. They provide international caliber training and are adept at creating programs even in the most specialized topics.”
Wuolijoki notes that Aalto EE’s iconic building in Töölö is also worth highlighting.
“Most of our legal experts participating in the program came from outside Finland. Holding the opening and closing days in such an inspiring setting enhanced the experience for everyone,” he concludes.
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