Compendium
Jun 23, 2025Global financial regulators are increasingly embedding culture risk and governance into supervisory frameworks, recognizing their critical role in operational resilience. Jurisdictions including Canada, the EU, and Australia are formalizing expectations and tools for assessing cultural dynamics, accountability, and board effectiveness. This marks a shift from rule-based oversight to proactive supervision aimed at addressing the systemic roots of risk.
Compendium
May 15, 2022Westpac has faced many challenges in Australia in recent years regarding its conduct and treatment of customers. However, in the past year, the bank has also faced scrutiny from the Reserve Bank of New Zealand, where ex-deputy governor Geoff Bascand called for major reforms in Westpac’s risk governance processes after an Oliver Wyman report commissioned by RBNZ found major shortcomings in the bank’s processes. ...cont
