Assessing conduct risk, or the risk to the delivery of positive customer outcomes, touches every part of a governance, risk, and compliance framework. Achieving an effective conduct-focused culture is challenging for companies, particularly for those that have focused mostly on profitability and shareholder returns.
Some of the key drivers of a conduct-focused culture include leadership from senior management, constant re-enforcement of goals, making it part of the hiring process and incentive structures, effective performance management, and penalties for not doing the right thing.
In our latest installment of the GRC Illustrated Series, we look at how to assess conduct risk, foster a conduct-focused culture, and communicate, train, and manage conduct risks throughout the organization.
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