The Operational Risk Management team, Siam Commercial Bank
We catch up with Ornsiri Serisantiwong, Operational Risk Management, Siam Commercial Bank, to find out what sets SCB's risk culture aside.
Fantastic! It’s such an honour for our team to win this award as we can take another step in our risk management and build our bank’s reputation at a global scale. This is our wonderful moment to recognise our team for their hard work.
We have been driving our risk culture in Siam Commercial Bank (SCB) since 2016. Our strategy is to turn risk management into something that staff can touch and feel in a simple and fun way, so that they can engage with our programmes and gain a better understanding of risk and skills for their day-to-day work, which would absolutely benefit the bank’s effectiveness at the end.
We use technology to help staff learn easier, for example with attractive, cartoon style eLearning platforms. We also use mobile applications to report incidents, and we applied gamification to teach about crisis management, etc. One of the key strategies is the use of cartoon posters to raise awareness in the toilets, which is a place everyone visits many times a day. This strategy is quite effective in promoting and raising awareness amongst all staff and executives. We will never stop doing this!
We started engaging all key stakeholders in the bank, who had experience in culture reform to brainstorm what is fit for our people. Finally, we initiated the awareness campaign ‘7OR’ together with mandatory training because we believe that everyone can help protect the bank from any threat. Then we kept improving and developing our campaign and we never stopped since. We utilised the campaign survey to improve the way we communicate while raising awareness of the campaign. This helps us define and re-define our culture and better understand our people.
SCB overcame silo mentality and confusion over roles and responsibilities. Although there were some control lapses in technology user acceptance tests, the collaboration within the fact-finding team to fix the problems at the root improved our risk culture. Today we, are able to do turbo incident escalation, crisis communication, and safety standards improvements, which helped decrease our net operational losses significantly – all thanks to the support of our fact-finding team.
I would say that our team reduced the net operational losses for the bank, thanks to our actions. SCB net loss recovery improved from a low of 22% in 2016 to 95% in 2019 because SCB embedded a strong risk culture within our employees.
Just do it! Let’s start now and keep improving. Let’s find out your staff’s insight and engage them with your projects. The staff’s heart and mind (mindset) are the key. We are in a new era of business and marketing/ contents have such an important role in this.
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