Mitic, Peter; (2016) Risk Appetite Setting and Modelling of Conduct Risk. In: Haines, Peter, (ed.) Conduct Risk: A Practitioner's Guide. (pp. 205-233). Risk Books

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Abstract

Many financial institutions have been heavily fined because of the conduct of their employees which ranged from the LIBOR scandal, money laundering activities, mis-selling of financial products including Payment Protection Insurance (PPI), interest rate protection, etc. The industry is struggling with how to manage conduct risk and the financial and reputational impacts. This issue remains at the top of banks’ agendas and has become of exponential interest to regulators. Conduct Risk is addressed in both a holistic and practical way, allowing the reader to grasp the concept of conduct risk whilst also providing access to the appropriate information to resolve their immediate issue. An overview and analysis of conduct risk is set out, followed by a review of recent case studies and the associated challenges, drawing on the practical experience of those writing the specific chapters. Conduct Risk demonstrates the alignment between conduct, culture, and behaviours, all of which need to be managed effectively and in harmony. It will inform thinking, encourage the resolution of problems, and enable boards and senior management to better challenge the current state of play.

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