When businesses make headlines for all the wrong reasons, questions are asked as to whether poor business conduct can be blamed on a few or whether the people at the top can actually set the tone and culture of the entire organisation.
Risk culture is increasingly on the radar of Chief Risk Officers and their peers. A strong risk culture permeates through the organisation from the Board level through to front line staff.
We inherently understand that a strong risk culture can facilitate better identification and management of risk and opportunities, but how does an organisation's risk culture relate to the products and services that it provides to its customers? What is conduct risk and why is it increasingly on the risk agenda?
This discussion summary, ‘Balancing risk – the fine line that can make or break an organisation’, follows a roundtable with risk leaders and industry experts, it covers:
Ultimately, building more sustainable and trusted businesses relies on having a culture that creates the right conduct. It’s not easy but it’s the only way to meet the sometimes competing demand of regulators and shareholders.
© 2018 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.