Event: Risk Culture in Financial Organizations
September 13, 2013
Michael Power and Tommaso Palermo at LSE’s Centre for the Analysis of Risk and Regulation have just written a research report about ‘Risk Culture in Financial Organizations’. They’ll be holding an open event to discuss their findings September 30 from 12-2pm which will be hosted at Lloyds on Lime Street in London.
It is widely recognised that problems with organisational culture played a major role in the financial crisis which crystallised in the late 2000s. Yet while ‘Risk culture’ in particular has become an object of focus and discussion by regulators and other bodies, there is no consensus on exactly what it is or how it might be managed.
In collaboration with the Economic and Social Research Council (ESRC); The Chartered Insurance Institute (CII); The Chartered Institute of Management Accountants (CIMA); and the Lighthill Risk Network a research report – Risk Culture in Financial Organisations – has been compiled by Michael Power and Tommaso Palermo at the London School of Economics and Simon Ashby at the University of Plymouth.
The report aims to enhance the practical understanding of risk culture and contribute to the general debate. Scheduled for September 30th 2013 from 12:00pm – 14:00pm, this seminar and Report Launch will take place at the Lloyd’s Old Library on One Lime Street, London EC3m 7HA.
Speaker presentations will highlight some of the key challenges to examining risk culture in financial services as well as share their findings from the study that which was conducted for the purposes of this report – most note-worthy of which is that it is “highly likely that organisations can be characterised by more than one risk culture”. The presentations will last approximately 30 minutes before opening up for general discussion.