Culture And Ethics
Regulators provide an ethical framework underpinned by the core values
of firms. They expect firms to be:
Open, honest, responsive and accountable
- Committed to acting competently,
responsibly and reliably
- Relating to colleagues and customers fairly
and with respect
Culture is driven by the Board. When focusing on
this area, BP&E Global and our team of experienced specialist consultants immerse
ourselves in your organisation to help you uncover and articulate
what your culture is and where sub cultures exist.
Once an understanding is established, the Board
needs to recognise and demonstrate that culture in all it says and does.
It is not just firms that are challenged by this topic.
"Following the 2008 financial crisis there was a familiar attempt
to increase regulators powers in order to protect a similar crisis happening
again. This was enacted through changes to the structure and objectives of
regulators and the powers given to them. To ensure these changes are not just
symbolic, they needed to be translated into more sustained changes to the
culture of FCA, PRA and Bank of England."
Research Paper Cultural change in the FCA, PRA
& Bank of England - Practising what they preach?
Click here to find out more about our
culture briefing event. You can also visit our Board Committees and Leading the Board pages to find out how we
support Boards going through internal changes.
Culture is the most important glue in the organisation, very important to reinforce a good culture, BP&E Global very well informed
INED, Arch Insurance Europe
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