There’s a reason culture is the first part of our Triple Play. Culture sets the tone. It’s how people feel when they work for an organisation or deal with them as customers. A thriving culture in which people feel supported, empowered, and valued can make up for shortfalls elsewhere. In contrast, a culture lacking in accountability, integrity, and transparency can lead to serious issues and undesired behaviours.

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In the wake of the Hayne Royal Commission many organisations moved fast to build out their risk functions and review frameworks and policies. Millions of dollars were invested in new roles and tools. And yes, management consultants to support the assessments and development of group risk frameworks, risk appetites, and key risk indicators (to name a few). 

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While these are all critical, having a documented approach or policy isn’t enough. In our view it is about alignment between why an organisation exists, what the desired output is and how this is achieved. Too often, the intent articulated in the boardroom does not practically translate into the behaviours of the front line.

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Risk management plays a key part in achieving a healthy culture. When done right, it strengthens the business and helps it go faster. It provides confidence that the results are achieved in the right way, avoiding the 'watermelon effect'; where risk rating reports are green, but when you cut a little deeper there’s a lot more red.

 

A good risk culture is a healthy working environment where people feel free to speak up and call out when something just doesn’t feel right.

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At The Bridge, we’ve worked in businesses and led large teams. We get the pressures, we understand the need to balance customer, shareholder, and employee needs. We’ve made mistakes and learnt from them. We believe that the journey is as important as the outcome, and that helping individuals connect with 'purpose' and the 'why' will help them thrive in their role. The rest will follow.