The UK's Senior Managers Regime seeks to formalise responsibility for risk, yet the threat of cyber attack sits outside of traditional risk governance standards, and means that protecting against such attacks will require a rethink of the traditional 'three lines of defence' model.

Structural reforms have consumed an immense amount of time and effort from regulators and industry participants in the past few years, but will they be made obsolete by more general changes to the global banking market? 

The search for industry standards focuses minds on fostering an open and innovative environment where good conduct and good performance co-exist.

With post-crisis recapitalisations hopefully in the past, stress-testing has become a means to push banks to enhance their risk and data governance.

Fintech start-ups are adept at pulling apart the banking business, neatly picking off low-hanging fruit. Joy Macknight examines the disruptive business models erupting in the financial industry and the banks’ response to this wave of innovation.