Managing risk and complying with laws are top priority in protecting BNY Mellon’s brand, assets and reputation. Part of creating a strong risk culture within our teams is to define the behaviors we expect of employees in identifying, assessing and mitigating risk while reinforcing the company’s values.
To help managers in our Asia-Pacific (APAC) region test their skills in this area, we conducted “Managing Risk in Your Team,” a simulation where participants play the role of a BNY Mellon manager going on vacation. The risk event unfolds while the manager is away from the office. Throughout the simulation, participants make decisions based on our Enterprise Risk Management Framework, the Three Lines of Defense and our Top Ten Practices of Great Managers. The exercise tested skills in various areas, including planning, decision-making, communicating and collating data.
Eighty-four percent of APAC managers completed the simulation. An analysis of results identified the group’s strengths as well as skills and behaviors needing improvement. As a follow-up, employees were directed to BNY Mellon resources to help them strengthen their risk management skills.
This global program was recently launched in APAC. We are developing a global follow-up training program to address managerial skills and behaviors identified for improvement.