Internal Controls and Risk Culture in Banks

Doriana Cucinelli ()
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Doriana Cucinelli: Università Degli Studi Di Milano-Bicocca

Chapter Chapter 5 in Risk Culture in Banking, 2017, pp 97-123 from Palgrave Macmillan

Abstract: Abstract This chapter aims to give an overview on the evolution of banking culture, from the culture of control, to the culture of compliance, up to the culture of risk. During the financial crisis, the culture of risk becomes very important, this due to the crucial role that the risk has in the banking business. Risk culture and risk management are close related and in particular, risk culture is a key component of the risk management efforts. Finally, the chapter describes the relationships between the three “lines of defence” and the role of the Board of Directors and top management in the spreading of risk culture among all levels of bank’s organization.

Keywords: Risk culture; Risk management; Line of defence; Banking culture; Culture of compliance; Culture of control (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-319-57592-6_5

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DOI: 10.1007/978-3-319-57592-6_5

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