Advisory firm KPMG expects to see an increased focus on culture and conduct risk next year at the Hong Kong Monetary Authority. The focus will not just be on ‘what happened’, but instead will dive deeper into ‘why it happened’.
Leading banks will strive to ensure that senior leadership understands the role of culture as a key enabler to supporting good conduct. In 2020 and beyond, successful banks will proactively manage conduct risk and understand the behaviours of their employees. They will also be able to assess whether their culture is shaping behaviors that align with values of the organisation.