Our conservative risk culture is among HSBC’s signature strengths. It is key to the bank’s past and continued success.

We use a consistent risk management framework at all levels of the organisation and across all risk types. It sets out governance and structures, responsibilities and processes in monitoring, managing and mitigating the risks we accept and incur in our activities. The framework is underpinned by our conservative risk culture and is reinforced by our values and our Global Standards – the robust controls that we are putting in place to help us detect, deter and prevent financial crime.

The environment in which we operate changes all the time, and so monitoring risk is a continuous process. Risks come in many different forms. Some are long-term and others short-term: while some arise from factors within our control, others are caused by external events. We aim to make an integrated evaluation based on an overall understanding of all the different risks we face and the interactions between them.

Further details of our risk management framework and its key components, as well as our exposure to risks arising from the business activities of the global businesses, are set out in the Group’s Annual Report and Accounts.