AFR Special Report: Risk Culture

AFR Special Report: Risk Culture

How to measure culture and manage the risks is as topical as ever, as the conduct issues facing Australian companies has become front page news. At a roundtable co-hosted by KPMG and The Australian Financial Review, prominent business leaders debated the issues.

Partner in Charge, Risk Consulting

KPMG Australia


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Key insights

This ‘AFR Special Report’ provides key insights and summarises a discussion on the topic of risk culture and conduct during the roundtable.

  • Moments of truth uncover priorities and how the cultural fingerprints companies leave on important documents reveal the true DNA of the organisation. It reveals whether they favour customer, shareholders or community.
  • Customer focus is not the only corporate solution and that being a good corporate citizen is much broader than putting customers first. The needs of all stakeholders should be considered in decision-making.
  • Hired for skills, let go for their behaviour: organisations need to understand their own culture and what is driving behaviours at the front line.
  • Building better behaviour starts with the board, not regulators when creating the right culture.
  • Service is key to banks’ advantage and is a determinant of competitive advantage.
  • Take time to listen to ‘whistleblowers’ to close the gap between what organisations say they stand for, and what they demonstrate they stand for.

Roundtable participants

The panel included KPMG leadership, key industry leaders, regulators and academics:

  • Jonathan Shapiro, AFR, as facilitator
  • Sally Freeman, National Managing Partner, Risk Consulting, KPMG
  • Ian Shiels, Partner in Charge, Financial Risk Management, KPMG
  • Adrian Fisk, National Industry Leader, Financial Services, KPMG
  • John Price, Commissioner, ASIC
  • Steven Munchenberg, CEO, Australian Bankers Association
  • Dr Simon Longstaff, CEO, The Ethics Centre
  • Associate Professor Elizabeth Sheedy, Macquarie University
  • Christoper Zinn, Consumer Advocate,


Read the AFR Special Report on Risk culture.

Online edition

Visit the AFR website to view the online edition of this Special Report.

Produced in association with the Australian Financial Review.

Risk culture and conduct

Risk culture and conduct

Key insight and debate highlighting how important it is for organisations to have a sound culture and risk strategy as a solid platform for growth.

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