Analysis of the financial crisis revealed poor quality decision-making and poor quality oversight of risk by many bank Boards. The governance of many banks was at best fractured, and at worst broken.

Banks face commercial, shareholder and regulatory pressures to improve their governance.

Most banks recognise the commercial advantages of good governance – not least to improve both strategic and day-to-day decision-making and risk management; to support senior management in executing their responsibilities; and in particular to support the implementation of an unprecedented level of strategic change in response to competition, technology, data, structure and regulation. 

KPMG International