This virtual event is an exclusive and interactive discussion on the developing global practices on conduct risk and regulation with banking governance expert, Professor Elizabeth Sheedy. Attendees are senior executives of large financial institutions.
The Australian banking system is undergoing significant regulatory reform following the Royal Commission, APRA reviews and cases by other regulatory authorities. This includes the introduction by APRA of the Banking Executive Accountability Regime (BEAR) in July 2018. Prof. Sheedy and her team have undertaken an early evaluation of BEAR and how it is enhancing accountability, improving risk governance and helping overcome behavioural biases. This research will be presented at the roundtable before questions/discussion.
Prof. Sheedy is a regular contributor to policy debate on financial services misconduct, remuneration practices, and enhancing financial services culture/conduct. She has familiarity with the Canadian banks following a study her team conducted in comparing risk culture in 2014-15 of four major Canadian banks with three major Australian banks. Additionally her team won the Risk Minds research paper of the year in 2019, for her publication on “The Role of Risk Climate and Ethical Self-interest Climate in Predicting Unethical Pro-Organisational Behaviour”.
Could these approaches assist Line 1 embrace risk culture and accountability? Might the BEAR find a home in Canada, along with the native species?