In non-financial risk (NFR), this refers to the ability of organizations, regulators, and other stakeholders to hold individuals responsible for what happens within their area of responsibility. Generally, regulators are encouraging organizations to embed accountability as part of their culture. Specifically, a growing number of jurisdictions are holding senior managers accountable for certain types of failings, such as compliance breaches. An example of this is the UK Senior Managers & Certification Regime (SM&CR).

Popular resources

You may be interested in

New Generation Operational Risk Europe Summit 2023
Event
March 9, 2023

Join us at the New Generation Operational Risk Europe Summit

British Bank Awards 2023
News
2 mins reading time

Vote for us as RegTech Partner of the Year in the British Bank Awards 2023

Discover more