As we enter the second quarter of 2021, the importance of organisational culture has never been more evident. Culture is top of the agenda for C-Suites and Boards and is included today in most discussions around strategy and risk. However, despite significant investment in culture the needle is not moving fast enough for the regulators and the promised benefits of culture transformation have not been realised by financial services institutions. Conor McCarthy, Head of People & Change, and Yvonne Kelleher, Risk Culture lead, explain.
Financial services organisations have an impetus to embed their desired culture across every level of their organisation. It is time for organisations to conduct a stocktake of their progress to date, re-assess their culture journey and address any gaps to promote and embed an effective and resilient culture. We believe the key to success is considering how risk and people interact at every point in the culture journey.
In this report we explore:
- Where we are now – the journey so far
- People & Risk – two sides of the same coin
- What’s next for the Financial Services sector
- 5 common challenges
- How KPMG can help
Head of People and Change
KPMG in Ireland