In this module, we explore how SecureBank, following its acquisition by a larger banking group, successfully embedded a robust risk management culture across the organisation.
Challenge
SecureBank faced the dual challenge of adopting the banking group’s established risk management culture while preserving its entrepreneurial and innovative spirit. It also needed to ensure that every employee — from executives to front-line staff — understood and embraced the new risk management policies.
Approach
SecureBank addressed this challenge through a structured, multi-step process:
1. Initial Assessment
An initial assessment of the existing risk management culture identified the bank’s strengths and areas for improvement.
2. Development of a Clear Vision
SecureBank then developed a clear vision for its risk management strategy and communicated it across the organisation to align employees with the new objectives.
3. Training and Awareness Programmes
Comprehensive training programmes were introduced to educate employees on the new policies and emphasise their importance.
4. Integration into Operational Processes
Risk management procedures were embedded into daily operations, ensuring these practices became a natural part of employees’ workflows.
5. Leadership Commitment
Leadership played a pivotal role by actively engaging in risk management initiatives, setting a strong example and reinforcing the importance of these practices.
Building Integrated Risk and Resilience
Building on the themes discussed in this session, SecureBank’s success in embedding a proactive risk culture was further enhanced by developing an integrated risk and resilience management system. This system enabled the bank to take a more strategic and connected approach by mapping critical stakeholders through a detailed Business Impact Risk Analysis (BIRA).
The resulting stakeholder map placed SecureBank at the centre, surrounded by key groups such as regulators, the board, employees, customers, and vulnerable customers. Each was represented as an interconnected bubble, illustrating two-way relationships — showing both what each stakeholder expected from SecureBank (e.g. trust, transparency, financial stability) and what SecureBank required from them (e.g. compliance, engagement, feedback, and collaboration).
(Illustrative example: A visual map could depict SecureBank at the centre with arrows connecting to stakeholder bubbles — regulators, board, employees, customers, and vulnerable customers — highlighting mutual needs and responsibilities.)
By clearly understanding these relationships, SecureBank was able to:
• Identify and manage stakeholder risks more effectively.
• Engage stakeholders through risk scenario exercises to test capability and preparedness.
• Foster mutual understanding and collaboration, ensuring that both SecureBank and its wider ecosystem became more resilient.
This integrated approach to risk and resilience not only strengthened SecureBank’s internal culture but also reinforced its reputation as a trusted, forward-looking financial institution that balances innovation with accountability.
Results
Through this systematic and holistic approach, SecureBank successfully established a strong risk culture aligned with its strategic vision while maintaining its innovative ethos. Employees became more engaged in risk management and more aware of their responsibilities in preventing crises, enhancing the bank’s overall resilience.
By integrating stakeholder awareness and resilience planning into its risk culture, SecureBank demonstrated how proactive engagement and shared responsibility can build a stronger, more adaptable organisation.