18 August 2017
Find out more

CIBC invests $50 million in reputational risk prevention

23 February 2004  |  4780 views  |  0 CIBC invests $50 million in reputational risk prevention

Canadian Imperial Bank of Commerce (CIBC) is to set up a whistleblower's hotline as part of a $50 million package of measures designed to shore up governance and reputational risks.

The new 'ethics hotline' will be established later this month so that employees can anonymously report any irregularities observed in day-to-day business practices. Other initiatives include the introduction of mandatory online training for all of CIBC's 37,000 employees on global reputation and legal risk, and advanced training for 1200 employees who are involved in complex financial transactions.

John Hunkin, president and CEO of CIBC, says: "We see this investment as critical to CIBC's success. When complete, we believe CIBC's governance and reputational risk policies will meet, or exceed, those of any other financial institution in North America."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

NAB traders admit to exploiting system flaws

NAB traders admit to exploiting system flaws

30 January 2004  |  4955 views  |  0 comments
FSA punches holes in bank treasury risk management practices

FSA punches holes in bank treasury risk management practices

06 October 2003  |  10939 views  |  0 comments
Operational risk losses cost banks $120 million annually

Operational risk losses cost banks $120 million annually

08 September 2003  |  9144 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7408 views comments | 21 tweets | 22 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7239 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5980 views 1 | 5 tweets | 3 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
5849 views comments | 10 tweets | 7 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5805 views comments | 11 tweets | 9 linkedin