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Failed Governance

Despite reforms introduced after the Financial Crisis, the “turmoil” of 2023 shows that capital buffers and added liquidity don’t compensate for risk governance weaknesses, to include those driven by culture and the conduct it promotes. Better tools, and metrics, are needed to proactively assess culture risk governance efficacy, and are key to managing financial and non-financial risk successfully.

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APRA Crticizes ANZ's Management of Non-Financial Risk

by Starling Insights

Observations

Dec 19, 2024

According to a letter received by The Australian under a "Freedom of Information" request, the Australian Prudential Regulation Authority (APRA) criticized ANZ's handling of non-financial risks just one day before the regulator announced a $250 million increase to the bank's operational risk capital add-on in August.

The 2024 Compendium is available June 11th!

Now in its 7th year, Starling's Compendium features over 40 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

Nigerian FRC to Adopt a Proactive Approach to Regulation

by Starling Insights

Observations

Aug 21, 2024

Yesterday, Nigeria's Financial Reporting Council (FRC) hosted its inaugural Audit and Assurance Providers' Leadership Summit. In his keynote address, FRC CEO Dr. Rabiu Olowo announced that the regulator was taking steps to be more proactive in improving audit quality and preventing fraud.