A sound organisational culture strengthens alignment of attitudes and behaviours within an organisation to positive corporate values. It ensures consistency and quality in how financial institutions execute their policies and processes, and how they make decisions on a daily basis at all levels within the organisation. Examining organisational culture has thus been an increasing focus for a number of financial regulators, to minimise misconduct and internal control failures at financial institutions.
MAS adopts a three-pronged approach in supervising organisational culture, recognising that good culture is driven by both internal leadership and self-discipline among staff within financial institutions, as well as by effective supervisory efforts by the regulator.
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