A Proactive and Pragmatic Approach to Managing Bank Culture

REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
February 10, 2017
Global

Abstract

Sometimes it feels as if banks have made little or no progress on “culture and conduct” despite years of focus from senior leaders, Boards of Directors, the media, investors, and regulators. It is true that culture can be difficult to observe and measure, since it comprises not only visible behaviors but also unspoken rules, ideas, norms, and subconscious beliefs. Fortunately, it can still be addressed effectively with the right approaches.

In this report, A Proactive and Pragmatic Approach to Managing Bank Culture, the authors share what they have learned from their extensive work with organizations in financial services and other industries. They offer a proactive and pragmatic approach to assessing and managing culture, addressing questions such as: How do enterprise culture and risk culture differ? How does culture relate to conduct? How can culture be measured and managed, and who is accountable for it?

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

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