Shifting focus Risk culture is at the forefront of banking

The new message this year is the almost universal focus on risk culture, with an emphasis on conduct, reflecting the range of global scandals that have come to light, including the fixing of a number of market benchmarks, such as LIBOR, and misselling cases in several countries. This has shaken boards’ certainty that they know the prevailing culture across a whole firm and has raised fundamental concerns about the quality of business-line controls and risk accountability.

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