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Internal Controls and Risk Culture in Banks

In: Risk Culture in Banking

Author

Listed:
  • Doriana Cucinelli

    (Università Degli Studi Di Milano-Bicocca)

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.

Suggested Citation

  • Doriana Cucinelli, 2017. "Internal Controls and Risk Culture in Banks," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Risk Culture in Banking, chapter 0, pages 97-123, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-319-57592-6_5
    DOI: 10.1007/978-3-319-57592-6_5
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