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Establishing a Risk Intelligent Culture in financial services

Tips for a tough job

Background

The attempted manipulation of the London Interbank Offered Rate (LIBOR), the Madoff  fraud, Payment Protection Insurance (PPI) mis-selling and numerous cases of ‘rogue’ trading have revealed poor risk management and questionable values and behaviours within the industry.

Financial services boards now accept the need for change. Indeed, many recognise that risk management processes are only as good as the people operating them, and that behaviour is strongly influenced by culture.

Key findings

This article sets out:

  • What the desired risk management values and beliefs
    and the right risk management behaviours look like;
  • Why it is so hard to put this vision into practice; and
  • How to overcome some of the key obstacles.

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Establishing a Risk Intelligent Culture in financial services (PDF)

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