Success of cultural change rests with local managers – research
No matter what messages are coming from the board and senior management, local managers at large financial firms need to play a major role in setting consistently desirable risk behaviour, research assessing the risk culture of banks shows
Perception of culture differs significantly between business units within the same bank, research from Macquarie University in Sydney, Australia has found – throwing the regulatory focus on "tone from the top" into question.
The university's risk culture study surveyed 22,145 employees in 222 different business units from six large banks headquartered in Australia and Canada. The aim of the research, undertaken between 2014 and the first half of 2015, was to find out if "best practice" risk
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