Follow TopicFollow Contributor Share Feedback
Pablo de Cos: Turning the Focus to Risk Governance

Pablo de Cos: Turning the Focus to Risk Governance

by Starling Insights

Starling Insights Editorial Board

Sep 21, 2023


In a recent Speech, Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, argued that the biggest lesson from this year's bank failures was that governance and risk management are the most significant drivers of banks' financial and operational resilience. As such, he stated, supervisors must improve their ability to assess these matters.

The banking turmoil highlighted a number of shortcomings in the affected banks, including ineffective risk management, unsustainable business models, poor risk cultures, and insufficient oversight by senior management and boards. "Many of these elements may appear obvious and quite basic in nature," de Cos said. "So it is of deep concern to see that, in 2023, some banks' boards and senior management failed in their most elementary responsibilities of overseeing and challenging a bank's strategy and risk tolerance."

This content is available to paid Members of Starling Insights.

If you are a Member of Starling Insights, you can sign in below to access this item. 


If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform.  Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.

Join The Discussion

See something that doesn't look quite right?

We strive to provide high quality and accurate content at all times. With that said, we realize that sometimes links break, new information becomes available, or there is something that you feel we may have missed.

If you see something that you think we should be aware of, we would love to hear from you. Feel free to drop us a note below and leave your name and contact info if you'd like to hear back from us.

Thank you for being a key part of the Starling Insights community!