- Be up to date on the research and data about culture in financial services.
- Consider the powerful influences that drive cultures
- Examine the key areas where Directors set the tone for acceptable behaviour
- Review some examples of business cultures in financial services and how they have impacted the firm’s reputation.
- Explore the risks and rewards of changing culture
- Understand the key steps in changing a culture
- Take away ideas for ways you may wish to make changes in your firm.
Your Consultant - Sarah Thwaites
Sarah is a Director of BP&E Global Ltd
and consultants with clients on governance issues, culture and board
evaluations. She has a broad ranging knowledge and experience having undertaken senior roles in both the commercial, not for profit and
regulatory environment in challenging times of change.
She is well known for
chairing and speaking at industry conferences as well as for appearances on
television and radio.
Before joining BP&E Global, Sarah was
CEO of the Financial and Legal Skills Partnership. She led a number of key
strategic projects for the FSA where she was ultimately responsible for the
development of the Financial Services Authority's regulatory approach to Training & Competence.
She is Chairman of the Accreditation Panel
for the Society of Later Life Advisers, sits on the ICAEW advisory board and
the Financial Planning and Retail Distribution Committee
It seems that there is general acceptance that a firm’s culture drives the behaviours of its people at all levels. At the same time there is a considerable degree of mystification as to what the culture of a firm should look like, why and how a change from the status quo could be achieved.
“It is my view that an important part of achieving the right outcomes is having the right culture. This means a culture which needs to be embedded throughout the business, thinks about the consumer and market integrity, and is used to drive long term growth.“ Speech by William Amos, FCA, Director of Wholesale Banking and Investment Management
This 2 hour briefing takes a practical approach
to this topic and reflects our experience in working with firms to analyse and
change their culture. It is designed for Board members to understand how they
influence the culture of the business and why it is important to understand
what makes their organisation tick. The focus then shifts to changing cultures and
the essential role that Directors play in leading that change.
Who should attend
specifically for Directors and senior managers who set the tone in their business, want to be up to
date with developments on culture and understand more about the practicalities
of influencing culture within their business.
1. Regulators expectations
- The development of the focus on culture
The PRA and FCA approach
What you can learn from enforcement actions
How Director’s shape and create a culture
2. Defining your
- Academic research into culture
Options for establishing your firm’s culture
Examples of different attempts to change cultures
in financial services firms
Deliberate and inadvertent influences on behaviours
cultures develop and how they promote or block change
3. Changing culture
from academia and useful do’s and don’ts
challenges of dealing with embedded cultures
role of communication and importance of Directors in role modelling behaviours
indicators to show progress