BANK 7.2.1 Principle 1: risk management culture

The general obligations of a banking business firm’s governing body and senior management under CTRL in relation to the firm’s risk management culture include an obligation to establish a strong operational risk management culture. A general reference in CTRL to risk management includes the management of operational risk specifically.

Derived from QFCRA RM/2020-2 (as from 1st January 2021)