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Related Pages
Supervision of organisational conduct and culture
Every organisation has its own organisational culture and operates under a set of rules, which are very often only implied, and which decisively affect group dynamics as well as the individual behaviour of its staff.
No organisational culture is right or wrong. However, group dynamics and pathological individual behaviours are material sources of risk, particularly when occurring within the institutions’ management and internal supervision bodies (including the supervisory body and the non-executive members of the management body) and senior management, in view of the crucial role played by leaders in outlining organisational culture.
Institutions are responsible for ensuring that, on top of formal governance structures, their organisational culture rests upon high ethical standards and that they:
- foster an integrated risk culture that covers every business area;
- promote responsible and prudent professional conduct, to be observed by all its staff;
- contribute to bolstering the institution’s levels of confidence and reputation.
Institutions must be able to assess risk arising from their organisational culture.
As a prudential supervisory authority, the Banco de Portugal monitors and assesses the risks arising from the organisational conduct and culture in the supervised institutions, adopting the measures deemed appropriate, with a view to promoting a sound, prudent and responsible attitude towards risk.
Supervision by the Banco de Portugal does not release institutions and, especially, their management and internal supervision bodies from the responsibility of ensuring sound and prudent management.