ECIIA’s new paper explores the evolution of risk culture since the 2008 financial crisis, examining the key initiatives and reforms implemented by regulators globally.
In today’s rapidly changing banking landscape, maintaining a strong risk culture is essential for safeguarding against potential threats and ensuring the stability and success of financial institutions.
Key highlights include:
- The role of regulators: How organisations like the European Central Bank (ECB) and international think tanks such as the Group of Thirty (G30) have influenced risk culture.
- Supervisory expectations: The importance of board dynamics, “tone from the top,” and embedding cultural values throughout the organisation.
- Challenges in auditing risk culture: Insights into the complex task of auditing risk culture, considering both quantitative and qualitative factors.
A strong risk culture is not just a regulatory expectation but a necessity for financial stability, impacting everything from responsible decision-making to the timely escalation of risks. This paper provides a comprehensive look at how banks can foster a robust risk culture.
Download the full paper here.
ECIIA
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