The culture of an institution can be difficult for senior management to understand and articulate, especially at large international financial institutions. Even it if can be understood, it can be hard to observe or bring about cultural changes.
Many European financial institutions, to better understand the strengths, vulnerabilities, intricacies and complexities of their risk culture, are starting to ask questions such as “what are the implications of maintaining the status quo?” and “what changes need to be made?”
In Let’s Stick Together: How Risk and the Business Can Learn to Get Along, we examine the root causes and drivers of weakness of an institution's risk culture, and look at five culture "levers" that can be pulled by management to overcome any differences.