Overview of Bank Culture Reform imposed by Hong Kong Monetary Authority and KPMG’s Risk Culture Assessment Model
In March 2017, the Hong Kong Monetary Authority (HKMA) has announced ongoing supervisory measures on one of the key focus area – Bank Culture Reform. The HKMA highlighted the requirements for banks to adopt a holistic and effective framework fostering a sound culture at all levels.
Responding to this regulatory requirement, KPMG has developed a risk culture assessment model to analyse the factors affecting company’s corporate culture. It helps banks to manages, measures and monitors their corporate culture against desired ways of working.
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