Risk culture refers to the behaviours, attitudes and norms in an organisation that affect how risks are considered in decision making.
Organisations with a strong risk culture foster transparency and considered decision making. They have long-term performance and incentive structures which make them more resilient, and they encourage staff to ‘speak up’ when they see potential issues. Conversely, organisations with a poor risk culture encourage short term decision making which ultimately results in issues, incidents, and wrongdoing.
For the Boards of APRA regulated entities, understanding the organisation’s risk culture is also a regulatory obligation.
We examine the following 6 dimensions of organisational behaviour when assessing an organisation’s risk culture.
The relative level of consideration given to risk against other priorities within the organisation.
The degree in which leaders communicate consistently and clearly, identifies the importance of strong risk management.
The extent to which members of the organisation consider identifying and addressing risks and issues to be their responsibility.
The ease with which individuals can identify and address the risks related to their role.
The extent to which communication is open and honest, and information within the organisation is complete, factual and balanced.
The degree to which internal recognition and reward structures provide adequate consideration for positive risk behaviours.
Choose the support approach that best suits your needs. You can choose from a low-cost self-service option right through to a fully supported model, where Amstelveen experts facilitate workshops and can help you plan for any uplift that may be required.
Use our out-of-the-box Risk Culture assessment and take advantage of Amstelveen iQ’s built-in reporting and analytics for an easy to use, low-cost way to get started on your risk culture journey.
Looking to understand what’s driving your organisation's risk culture? Our team of experts can support you by facilitating workshops and analysing your assessment results to provide you with a more detailed and nuanced view of your organisation’s risk culture.
Whether you’re new to risk culture or you’re looking for support for your annual review, Amstelveen’s team of experts can support you from scoping to implementing a future-state roadmap. Our team of data analysts can help you unpack what’s happening across your organisation, identify areas for improvement, and showcase those who are leading the way.
Whether you’re new to risk culture or a seasoned professional, Amstelveen’s team of Risk Culture experts is here to help you and your organisation on your risk culture journey.