The role of the wider society in shaping the culture and risk profile of banks and other organisations might be more important than most people think. Understanding that role is extremely important for bank executives and risk professionals if they are to build organisations that are sustainable, economically and competitively, in the long term. Continue reading
Tag Archives: Risk Culture
This is a follow up to an earlier series of articles on risk culture in banks the last of which can be accessed here.
The best institutions and organisations are those which define themselves in terms of how they have they can best serve their customers (and the wider community) and not how they intend to manage risks.
This is a lesson that bankers, regulators and governments all need to learn—the future success of the banking industry depends not on more rules and regulations but how well banks transform their customer culture. As we shall see, that has very little to do with how they measure risk. Continue reading
This article was originally written for and included in the ACCA Quarterly Newsletter for Financial Services, AB.Direct.
What is the risk culture of an institution? When assessing the economic and competitive sustainability of an organisation, is it good enough to focus solely on the risk culture? Continue reading