Abstract
Weaknesses in risk culture are often considered a root cause of the global financial crisis, headline risk and compliance events. A financial institution’s risk culture plays an important role in influencing the actions and decisions taken by individuals within the institution and in shaping the institution’s attitude toward its stakeholders, including its supervisors. First and foremost, it should be expected that employees in all parts of the institution conduct business in a legal and ethical manner. An environment that promotes integrity should be created across the institution as a whole, including focusing on fair outcomes for customers.