Скачать или смотреть How Regulator See Risk Culture

Global financial regulators have shifted focus to risk culture—the shared values and beliefs about risk—as the root cause of bank failures, recognizing that increased rules alone were insufficient. Risk culture is essential for Enterprise Risk Management (ERM), acting as the "lubricant" for the system and driving either prudent management or practice derailment. The elements monitored, such as Tone from the Top, Governance, Decision-Making, and Competency (IRM's model), align closely with global regulatory recommendations. Regulators assess this often "invisible" culture by observing tangible behaviors, for instance, the ECB attending Board meetings to gauge "constructive challenge". The responsibility for developing robust risk culture should ultimately shift from regulators to company Boards, utilizing tools like linking remuneration to risk outcomes to speed up this transfer.
#RiskCulture
• #FinancialRegulation
• #ERM (Enterprise Risk Management)
• #Governance
• #Accountability
• #BehaviorAndCulture
Key Elements of Risk Culture:
• #ToneFromTheTop
• #ConstructiveChallenge
• #Incentives
• #DecisionMaking
• #CulturalCapital
Regulatory Bodies & Initiatives Mentioned:
• #ECB (European Central Bank)
• #FCA (Financial Conduct Authority)
• #DNB (De Nederlandsche Bank)
• #SMCR (Senior Managers and Certification Regime)
• #APRA (Australian Prudential Regulatory Authority)