Assessing risk culture: Insights from the banking sector

In part I of our Risk Culture series, “Quantifying risk culture – is it possible?”, we shared our point of view on how to assess risk culture.

This second blog explores how the banking industry approaches risk culture assessments in practice, covering how risk culture is defined through to how risk culture data points are collected and used to action cultural change. Read more to discover:

1. How are banks defining risk culture? How are they using this definition?
2. What types of data are banks collecting to assess and evidence risk culture?
3. What type of data analysis methods are used? How is this reported?
4. Who owns the risk culture assessment approach?
5. How are Banks using their risk culture data?
6. Key points to consider when setting up your approach to assessing risk culture