Speaking at the ASIFMA Compliance Week 2021 conference, Hong Kong Monetary Authority (HKMA) Deputy Chief Executive, Arthur Yuen, said that the subject of bank culture and accountability has become much less talked about as financial institutions ramp up their focus on ensuring operational resilience amidst the stresses of the Covid-pandemic.
Yuen described culture as the “invisible glue that holds a bank together”, and said it is an area that has become all the more important in the current environment. “For that reason,” Yuen added, "we should remind ourselves repeatedly of the need to keep up the momentum in promoting sound bank culture in order to counter the additional risks brought about by the pandemic."
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