Compensation must be formally aligned with actual performance, such as through adding more rigorous risk-based measures to scorecards. This would also involve moving to longer vesting periods, and increasing deferred compensation. The fragmented organisation of risk data into separate silos slows down risk management process and hinders the capability to respond to new regulatory requirements.
Another  guideline  which  will  strengthen  corporate  governance structures in the banking sector is that on financial publications. This has been updated to include detailed corporate governance disclosures by banks and the inclusion of provisions on corporate governance under the Banks and Specialized Deposit taking Institutions Act, 2016 (Act 930).