Understanding 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.
- Understanding culture in financial services
- 6 key areas of focus
- Center for Regulatory Strategy
- More information?
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.
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.
Center for Regulatory Strategy
The Center for Regulatory Strategy is a source of critical insight and advice, designed to help clients to anticipate change and respond with confidence to the strategic and aggregate impact of national and international regulatory policy.
For more information, please download the report of contact Ronald Koppen or Eelco Schnelzer via their contact details below.
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