A Proactive and Pragmatic Approach to Managing Bank Culture
REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
Sometimes it feels as if banks have made little or no progress on “culture and conduct” despite years of focus from senior leaders, Boards of Directors, the media, investors, and regulators. It is true that culture can be difficult to observe and measure, since it comprises not only visible behaviors but also unspoken rules, ideas, norms, and subconscious beliefs. Fortunately, it can still be addressed effectively with the right approaches.
In this report, A Proactive and Pragmatic Approach to Managing Bank Culture, the authors share what they have learned from their extensive work with organizations in financial services and other industries. They offer a proactive and pragmatic approach to assessing and managing culture, addressing questions such as: How do enterprise culture and risk culture differ? How does culture relate to conduct? How can culture be measured and managed, and who is accountable for it?