How to build a conduct and culture risk metric system
Regulatory pressure to focus on conduct risk means that banks now need to be sure that they have adequate and timely measures of their exposure
The compensation bill for mis-sold payment protection insurance (PPI) in the UK continues to rise at more than £300 million a month, which suggests one fairly obvious way to measure the risk of poor conduct. But banks need to find better and more useful ways to measure the health of their internal cultures and controls than simply waiting for the fines to mount up. In the UK, membership of the Banking Standards Review Council (BSRC) will mean regular reporting and review of a range of measures
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