Culture in financial services


Culture in financial services

Scrutiny by the regulator, in principle and in practice

Senior regulators globally have emphasised the necessity of establishing the right culture within financial services firms. But it is much less clear how front line supervisors assess the culture of a firm and reach decisions on whether any problems identified are sufficient to justify intervention.

We have prepared a report in which we describe how supervisors are likely to approach this complicated task identifying six areas that we expect to attract particular scrutiny. We also provide examples of positive and negative indicators that could strongly influence supervisors’ ultimate judgement as to the culture of a firm and hence the strategy and resources they should deploy in supervising it.

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Key focus areas for supervisors

The “tone from the top”
The role of the leadership in setting, communicating and challenging the firm’s culture
Purpose and strategy
A clear sense of purpose and alignment between strategy, culture and values
Individual accountability
Enhanced individual accountability for specific roles and responsibilities
Remuneration and incentives
Remuneration and incentives that promote good outcomes for the firm, customers and the market
Governance and controls
A culture that reinforces good governance and controls
Mindsets and behaviours
Mindsets and behaviours that reflect the firm’s target culture and values

As well as reviewing trends in regulatory thinking on culture, this report is intended to provide you with an understanding of the perspectives of front line supervisors and the cultural indicators they are particularly alert to. This will enable you to respond to the sharpening supervisory focus on culture and better demonstrate your firm’s cultural alignment to the achievement of good customer, prudential and market outcomes.

Find out more by downloading the report or by contacting one of the team listed below.

You can find more reports like this at, where you can also sign-up for our monthly risk and regulation newsletter.

About the Centre for Regulatory Strategy, EMEA

The Deloitte Centre for Regulatory Strategy is a powerful resource of information and insight, designed to assist financial institutions manage the complexity and convergence of rapidly increasing new regulation.

With regional hubs in the Americas, Asia Pacific and EMEA, the Centre combines the strength of Deloitte’s regional and international network of experienced risk, regulatory, and industry professionals – including a deep roster of former regulators, industry specialists, and business advisers – with a rich understanding of the impact of regulations on business models and strategy.

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Laurent Berliner
Partner – EMEA FSI Risk Advisory
Tel : +352 45145 2328


Vincent Gouverneur
Partner – EMEA Investment Management
Tel : +352 45145 2451

Simon Ramos
Partner – IM Advisory & Consulting
Tel : +352 45145 2702


Jean-Philippe Peters
Partner – Risk Advisory
Tel : +352 45145 2276

Martin Flaunet
Partner – Audit Banking Leader
Tel : +352 45145 2334


Pascal Martino
Partner – Banking & Digital Leader
Tel : +352 45145 2119

Michael Cravatte
Partner | Consulting Banking, Insurance
& Non-FSI
Tel : +352 45145 4758




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