18 October 2017

CIBC invests $50 million in reputational risk prevention

23 February 2004  |  4832 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  |  4999 views  |  0 comments
FSA punches holes in bank treasury risk management practices

FSA punches holes in bank treasury risk management practices

06 October 2003  |  10985 views  |  0 comments
Operational risk losses cost banks $120 million annually

Operational risk losses cost banks $120 million annually

08 September 2003  |  9193 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15185 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8385 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7897 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7336 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6493 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job