Risk Culture & Governance

Regulators and supervisors remain focused on strengthening firms’ governance, culture and risk management frameworks. A key enabler of a sound risk management and control is an effective system of governance. Implementing effective governance can facilitate streamlined information flows, clear ownership and timely and accurate risk reporting.​

Greater priority will be attached to risk culture, diversity and inclusion, and the “tone from above” (as well as from the top). The internal control environment is also under pressure due to more people operating remotely. Many controls were originally not designed for operation in a remote-working context.