With daily reports about the failings of corporate standards in the media, it seems that no sooner has the dust settled on one enquiry then another begins. So often organisational attempts to understand and gain control focuses on what needs to change rather than why or how. There is a force at work beneath every organisation’s risk and compliance processes and practices – a force that can either help or harm any attempt to understand and address the financial and reputational threat of corporate exposure.
Arcadia work with clients to drive behavioural change and establish an empowered risk culture which helps our clients achieve:A way of mitigating financial and reputational risk An integrated team with shared responsibility and accountability for risk A culture of escalation without inhibitors A culture of trust between leaders, managers and the wider team Leaders who role model behaviours and inspire and engage at all levels The ability to capture and learn from near-misses and ensure mistakes don’t recur.
"Operational risk for banks is arguably at the highest level in years. Changes in regulations and what stakeholders view as acceptable, plus the risk that the behaviours of certain employees become associated with the institution as a whole, are indeed much more expensive for banks than, say, credit risk"
Euromoney 30 January 2014