Risk Culture Series: Briefing 2—Principles of a Disciplined Risk Culture

Principles of a Disciplined Risk Culture is the second in a series of three briefings regarding risk culture. The briefing explains some of the elements and principles that comprise an organization’s proactive (and preferable) approach to developing and sustaining an effective risk culture. It examines the vital role that leadership has (both good and bad) with respect to how the culture of an organization is created and how it performs. The briefing also identifies some of the critical cultural elements used by organizations to avoid the recent corporate scandals that have dominated the news. It uses two case studies—TD Bank and Siemens AG—to focus on how those elements create a risk culture, which is an important cornerstone of a risk management program.