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Risk Culture

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by

Olivia Papworth

on 21 November 2016

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Transcript of Risk Culture

Promote a positive culture
What is it?
Deep rooted norms and traditions of behaviours

Determines the way we identify, understand, discuss and act on risks
Why does it matter?
GFC taught us all a very good lesson

APRA introduced CPS220

It is the right thing to do


Group Risk Appetite Statement
Positive attitude and approach to open and constructive challenge

Proactive escalation and management of issues

Speak up when something doesn't feel right
Clear roles and responsibilities

Training

Reward and recognition programs
Risks are managed

Mature robust three lines of defence model

Effective tools & methodology, policies, procedures and frameworks

Risk Culture
People empowered and confident to make decisions

Collaborate with our colleagues

Share information and knowledge
Understand expectations

Role model

Communication is clear and consistent
Risk Culture Foundation
Risk Appetite & Governance
Measured Risk Taking

Operational Independence

Risk Infrastructure & Practices
Accountability & Reinforcement
Role Clarity

Capability

Reward & Recognition
Behaviours & Relationships
Empowerment

Collaboration

Information & Knowledge Sharing
Risk Awareness & Transparency
Challenge

Responsiveness

Speaking Up
Leadership & Communication
Tone from the Top

Role Modelling

Communication
Full transcript