Рисковата култура на банките - значение, възможности за квантифициране, измерения в България
THE RISK CULTURE OF BANKS - MEANING, OPPORTUNITIES FOR EVALUATION, DIMENSIONS IN BULGARIA

Author(s): Plamen Dzhaparov
Subject(s): Social Sciences, Economy, National Economy, Supranational / Global Economy, Business Economy / Management, Financial Markets, Socio-Economic Research
Published by: Е-литера Софт ЕООД
Keywords: banks and financial institutions; risk management; risk culture;
Summary/Abstract: Before the onset of the global financial crisis, the role of risk management in banks was greatly underestimated. The most serious problems in this respect create the ignoring of a number of aspects that form the content of the risk culture. For years, pursuing profits at all costs, the bank top management ignored the importance of multiple critical success factors: values of the risk philosophy and risk management; attitudes and motivation of employees; need for rich information provision within the entire banking group. Quite logically, in the uncertain, complex and ever-changing environment, the subject matter of a "risk culture revolution" stands in the spotlights. It is clear that bank management should focus on many soft aspects of risk management - moral values of management, motivation and training of staff, the relationship "risk management - reputation", the desire of the management and employees for an open dialogue on risks. The focus of this book is on the risk culture of banks in Bulgaria. The results of a questionnaire survey that covers 9 banks holding 66.21% of all assets in the Bulgarian banking system at the end of 2016 are presented. It includes 304 respondents from three levels - senior management, risk authorities and other departments. After highlighting the most significant problems on the different bank risk culture factors, measures are proposed for its improvement in three directions: performing structural and process optimization of risk management; increasing the efficiency of the work of risk authorities; encouraging the involvement of banking staff in risk issues.

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