November 14, 2013 – FinRisk Event in Singapore – Elements of Banking Risk Culture

November 14, 2013

(Thursday 14 Nov 2013 12.30 – 1.30 pm Singapore) – Dr. Elizabeth Sheedy, Associate Professor, Applied Finance Centre, Macquarie University was in Singapore to share her thoughts and her on-going research on “Elements of Risk Culture in Large Banks”.

Mr. Lawrence Ho, Chair of the FinRisk Founding Team in Singapore, briefly introduced the audience to the FinRisk efforts globally and in Singapore. Mr. Ho also introduced Mr. Steven Lee, Global Chair of the FinRisk Founding Committee, who was also present at the event.

Indeed a timely and important topic in light of many of the colossal failures that we are repeatedly seeing in the financial services sector. While we seem to better understand some of the causes, one key topic which is perhaps less well understood is the role of risk culture and their effects on risk failures.

Dr. Sheedy is currently leading a research study into the elements of risk culture and how they play a part in the success and failure of banks in managing surprises. The study will ultimately cover risk culture elements and their role in driving identifying and managing of risks at twenty of the largest global banks. Will be interesting to know the results of the research at the end of study… something that we will follow-up with Dr. Sheedy on when it is available.