Risk Culture and Effective Risk Governance
First published:
ISBN: 9781782720997
If you are a Risk.net subscriber you are entitled to 20% off your Risk books purchases. Please email enquiries@riskbooks.com for more information.
As part of your Risk.net subscription you are entitled to 20% off all of your Risk Books purchases. If you would like to place an order please email enquiries@riskbooks.com
Values-driven Performance Management
Robert Potter and Miriam Earley
Introduction: Understanding Risk Culture and What To Do About It
Risk Culture: Definitions, Change Practices and Challenges for Chief Risk Officers
Risk Culture: A View from the Board
The Views of the PRA on Risk Culture and Risk Governance in Banks and Insurers
Risk Appetite and Risk Culture: A Regulatory View
The Investor Perspective on Risk Culture
Values-driven Performance Management
Creating a Culture of Success: Reducing the Likelihood of Conduct Failures
Internal Audit and Risk Culture
Compensation and Risk: Regulation and Design of Incentive Schemes
A View from the Remuneration Committee: Emerging Good Practice in the UK
Risk Transparency and Risk Culture for Financial Institutions
The Importance of Data and IT for a Strong Risk Culture
The Role of Whistleblowing in Risk Culture and Effective Governance
This chapter discusses the issues concerning the development and the maintenance of a values-driven performance management environment within organisations. Values-driven performance management infers a people management philosophy that seeks to ensure that employee actions and behaviours are driven by the values and culture of the organisation, as well as by the desire for organisational success. As such, it is also a key tool in the management of risk, in particular the risks that emanate from employee behaviour that we term simply as “people risk”.
It is a process that is driven from, and owned by, the most senior individuals within the organisation. Driving and embedding values-driven performance management starts with the board and senior executives, which may subsequently be facilitated by functions such as human resources (HR) through the governance of programmes ranging from recruitment processes to performance appraisals, to leadership development and succession planning.
This chapter therefore examines people risk as a concept, and how the potential risks associated with employees can be measured and managed. The importance of understanding organisational values is
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
