May 2022 Culture And Conduct Risk In The Banking Sector
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May 2022 Culture And Conduct Risk In The Banking Sector
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Author : Stephen Scott
language : en
Publisher:
Release Date : 2022-03-08
May 2022 Culture And Conduct Risk In The Banking Sector written by Stephen Scott and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-08 with categories.
Starling is pleased to offer the fifth edition in its annual Compendium series for 2022: a comprehensive report detailing the priorities and activities of bank regulators regarding firm culture and conduct risk management. Over the years, regulatory officials across all key banking centers have proffered a now substantial array of speeches, studies, and recommendations regarding the culture of banks and other financial firms. Collectively, these public resources provide the backbone of this report. While the available information on the "why, what, and how" of bank culture reform is prolific, this material exists in a dispersed and unconsolidated fashion. This "Compendium" aims to provide those working on, or otherwise interested in, this topic with a one-stop resource that highlights recent developments in the financial sector on the culture and conduct issue. The goal is to provide a comprehensive summary of the substantive work underway regarding the nexus between firm culture, employee behavior, business performance outcomes, and social consequences. This year's report features contributions from more than 60 senior banking industry executives, regulators and central bankers, international standard-setters, and academics. We made a concerted effort to include voices that were not as well-heard in our earlier reports as we would have liked. We are delighted that this year's report includes contributions from Canada, The Bahamas and Dubai, for instance. And we are particularly proud to have had contributions from so many women. We hope that this 2022 update to our annual report will help to prompt further informed discussion among banking industry executives, regulators and supervisors, central bankers and international standard setters, among other stakeholders. We are proud that so many of them have trusted us with the curation of this important dialogue and our sincerest thanks go to all those who have taken the time to offer views for inclusion here to the benefit of their peers.
Risk Culture In Banking
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Author : Alessandro Carretta
language : en
Publisher: Springer
Release Date : 2017-10-11
Risk Culture In Banking written by Alessandro Carretta and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-11 with Business & Economics categories.
This book explores risk culture in banks following the financial crisis. It analyses the role of national and institutional risk culture, market competitiveness, organisational systems and institutional practices that led to a weakening of risk culture in financial institutions leading up to the financial crisis. It addresses how to assess and measure risk culture, and analyse the impact on performance and reputation. Finally it explores the impact of regulation and a variety of tools that can be applied from the board down to promote a healthy risk culture in the governance of financial institutions internal controls and risk culture in banks.
Non Financial Risk Management In The Financial Industry
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Author : Norbert Gittfried
language : en
Publisher: Frankfurt School Verlag
Release Date : 2022-04-13
Non Financial Risk Management In The Financial Industry written by Norbert Gittfried and has been published by Frankfurt School Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-13 with Business & Economics categories.
Managing environment, social and governance (ESG) risk, compliance risk and non-financial risk (NFR) has become increasingly critical for businesses in the financial services industry. Furthermore, expectations by regulators are ever more demanding, while monetary sanctions are being scaled up. Accordingly, ESG, Compliance and NFR risk management requires sophistication in various aspects of a risk management system. This handbook analyses a major success factor necessary for meeting the requirements of modern risk management: an institution-specific target operating model (TOM) – integrating strategy, governance & organisation, risk management, data architecture and cultural elements to ensure maximum effectiveness. Also, institutions need to master the digital transformation for their business model to be sufficiently sustainable for the years to come. This book will offer ways on how to achieve just that. The book has been written by senior ESG, Compliance and NFR experts from key markets in Europe, the U.S. and Asia. It gives practitioners the necessary guidance to master the challenges in today's global risk environment. Each chapter covers key regulatory requirements, major implementation challenges as well as both practical solutions and examples.
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance
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Author : El Bachir Boukherouaa
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-22
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance written by El Bachir Boukherouaa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-22 with Business & Economics categories.
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
New Accountability In Financial Services
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Author : Joe McGrath
language : en
Publisher: Springer Nature
Release Date : 2022-01-01
New Accountability In Financial Services written by Joe McGrath and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-01 with Social Science categories.
This book is a critical examination of recently introduced individual accountability regimes that apply to the financial services industry in the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together with a forthcoming new individual accountability regime ( in particular, SEAR) in Ireland. It provides a framework for analysing whether these regimes will achieve behavioural change in the financial services industry. This book argues that, whilst sanctioning individuals to deter future misconduct is an important part of any successful regulatory strategy, the focus should be on ensuring that individuals in the financial services industry internalise the norms of behaviour expected under the new regimes. In this regard, the analysis in this book is informed by criminological theory, regulatory theory and behavioural science. The work also argues for a “trajectory towards professionalisation” of financial services, and banking in particular, as an important means of positively influencing industry-wide norms of behaviour, which have a key influence on firms’ and individuals’ behaviours.
Research On Professional Responsibility And Ethics In Accounting
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Author : Tara J. Shawver
language : en
Publisher: Emerald Group Publishing
Release Date : 2024-05-30
Research On Professional Responsibility And Ethics In Accounting written by Tara J. Shawver and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-30 with Business & Economics categories.
Research on Professional Responsibility and Ethics in Accounting Volume 26 explores many aspects across professional responsibility and ethics in accounting, including changing auditing approaches, whistleblowing, fraudulent practices, the impact of communications, and the impact Covid-19 has had on corporate social responsibility.
The Right To Bank
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Author : Clara Barbiani
language : en
Publisher: Ethics International Press
Release Date : 2024-04-17
The Right To Bank written by Clara Barbiani and has been published by Ethics International Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-17 with Business & Economics categories.
The call for establishing a right to bank holds valid premises, yet this right has never been contemplated before. The book argues that introducing a right to bank under international law can offer a new route to ensure that the banking sector acts as a force for good like ethical banks currently do. The right to bank aims to address the fundamental issues that customers can experience while dealing with banks, introducing the paradigm: “get access; be respected; trust the system”. The right to bank is a right for everyone: in the transition from a financial crisis to a climate crisis, it empowers individuals to play an active role in the financial system through ethical and sustainable decision-making. It also stimulates financial institutions and governments to reflect about the fundamental role they play and to act wisely in furthering the ecological transition. The book therefore presents a proposal for establishing a right to bank, explaining the issues that this right aims to address, the benefits linked to its adoption, and the intended change it can trigger. Within this context, the author also presents the 10 Principles of Banking Social Responsibility, a new framework that the author decided to create in order to give concrete traction to the positive transition that the banking sector crucially needs to embrace in this challenging historical moment. This innovative work will be valuable for lawmakers, banking and finance professionals and researchers, governments and NGOs, including UN bodies.
Banking Conduct And Culture A Call For Sustained And Comprehensive Reform
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Author :
language : en
Publisher:
Release Date : 2015
Banking Conduct And Culture A Call For Sustained And Comprehensive Reform written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Bank management categories.
The Future Of Risk Management
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Author : Howard Kunreuther
language : en
Publisher: University of Pennsylvania Press
Release Date : 2019-07-26
The Future Of Risk Management written by Howard Kunreuther and has been published by University of Pennsylvania Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-26 with Political Science categories.
Whether man-made or naturally occurring, large-scale disasters can cause fatalities and injuries, devastate property and communities, savage the environment, impose significant financial burdens on individuals and firms, and test political leadership. Moreover, global challenges such as climate change and terrorism reveal the interdependent and interconnected nature of our current moment: what occurs in one nation or geographical region is likely to have effects across the globe. Our information age creates new and more integrated forms of communication that incur risks that are difficult to evaluate, let alone anticipate. All of this makes clear that innovative approaches to assessing and managing risk are urgently required. When catastrophic risk management was in its inception thirty years ago, scientists and engineers would provide estimates of the probability of specific types of accidents and their potential consequences. Economists would then propose risk management policies based on those experts' estimates with little thought as to how this data would be used by interested parties. Today, however, the disciplines of finance, geography, history, insurance, marketing, political science, sociology, and the decision sciences combine scientific knowledge on risk assessment with a better appreciation for the importance of improving individual and collective decision-making processes. The essays in this volume highlight past research, recent discoveries, and open questions written by leading thinkers in risk management and behavioral sciences. The Future of Risk Management provides scholars, businesses, civil servants, and the concerned public tools for making more informed decisions and developing long-term strategies for reducing future losses from potentially catastrophic events. Contributors: Mona Ahmadiani, Joshua D. Baker, W. J. Wouter Botzen, Cary Coglianese, Gregory Colson, Jeffrey Czajkowski, Nate Dieckmann, Robin Dillon, Baruch Fischhoff, Jeffrey A. Friedman, Robin Gregory, Robert W. Klein, Carolyn Kousky, Howard Kunreuther, Craig E. Landry, Barbara Mellers, Robert J. Meyer, Erwann Michel-Kerjan, Robert Muir-Wood, Mark Pauly, Lisa Robinson, Adam Rose, Paul J. H. Schoemaker, Paul Slovic, Phil Tetlock, Daniel Västfjäll, W. Kip Viscusi, Elke U. Weber, Richard Zeckhauser.
Cases On Uncovering Corporate Governance Challenges In Asian Markets
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Author : Hasan, Rashedul
language : en
Publisher: IGI Global
Release Date : 2023-12-07
Cases On Uncovering Corporate Governance Challenges In Asian Markets written by Hasan, Rashedul and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-07 with Business & Economics categories.
Corporate governance challenges in Asian markets have led to high-profile scandals and negative consequences for stakeholders, driven by weak governance structures, transparency deficiencies, and insufficient accountability. These issues are compounded by cultural and societal influences, emphasizing the need for a comprehensive understanding of the underlying factors at play. Cases on Uncovering Corporate Governance Challenges in Asian Markets, offers a compelling solution to address these pressing issues. Through a thorough analysis of prominent corporate scandals in Asia, the book investigates their origins, effects, and cultural influences that have contributed to their escalation. By scrutinizing these cases, the book provides actionable recommendations to enhance corporate governance practices, promoting transparency, accountability, and ethical conduct within companies. It serves as an indispensable resource for academic scholars, researchers, practitioners, policymakers, and students seeking insights into corporate governance in Asia. With its comprehensive understanding of governance failures and practical recommendations, Cases on Uncovering Corporate Governance Challenges in Asian Markets catalyzes positive change in the business landscape of Asian markets.