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.
Observations
Oct 04, 2024Last week, the European Central Bank (ECB) held a stakeholder meeting to discuss its consultative "Guide on governance and risk culture." In his address to that meeting, Frank Elderson, a Member of the ECB's Executive Board, emphasized that, despite the progress made over the first decade of European banking supervision, persistent weaknesses in governance remain.
Compendium
Jun 11, 2024Compendium
Jun 11, 2024Workplaces must prioritize safety and respect for all employees as a matter of human rights. The need for proactive steps, transparency, and strong leadership to build healthy cultures that boost performance and promote fairness is very important.
by Elise Bant
Compendium
Jun 11, 2024
