Deloitte Insights

Episode 12: Has there been enough cultural change in the financial sector? 

Regulated Radio podcasts

How do we deal with a challenge as difficult as cultural change in the financial sector? More than ten years on since the financial crisis, what’s still on the agenda of financial authorities? In this packed episode, Scott Martin speaks to Andrew Bulley and Orla Hurst from the Centre for Regulatory Strategy, as well as Rose-Marie Kennedy from Deloitte Ireland. Tune in now to find out what they see as the four most up-and-coming trends in financial services culture and what Financial Services firms can expect to happen next.

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Key questions:

  • What are the most important trends in the approach of supervisors to culture in the financial sector?
  • What jurisdictions are we supervisors seeing take a renewed interest in culture?
  • What has been the recent experience of UK and Irish firms in addressing their culture?
  • What is ‘psychological safety’ and what does it have to do with instilling a culture of challenge in a firm?
  • What effect will technological trends like the digitalisation of banking have on firm culture outcomes?

Events like the global financial crisis have shined a light on how poor culture in the industry can lead to bad outcomes, sometimes with some very serious financial consequences for society.

Speakers

Andrew Bulley
Partner
Risk Advisory

Andrew Bulley joined Deloitte in October 2016 from the Bank of England, where he was, most recently, the Director of Life Insurance Supervision.

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Orla Hurst
Senior Manager
Risk Advisory

Orla is a Senior Manager in Deloitte’s Centre for Regulatory Strategy where she focuses on Conduct Regulation.

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Rose-Marie Kennedy
Director
Regulatory Risk

Rose-Marie specialises in Irish and European financial services regulation. She advises a wide range of both domestic and international financial institutions. She specialises in the provision of advice and support to clients on all aspects of Irish and UK authorisation/licence applications, applications for Pre-Approval Controlled Functions (“PCF”), ongoing conduct and prudential regulatory compliance support and implementation of legislation and regulatory requirements.

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Scott Martin
Senior Manager
EMEA Centre for Regulatory Strategy

Scott is a Senior Manager in the Centre for Regulatory Strategy advising on international banking regulation, with a particular focus on bank capital, strategy, cyber risk and public policy-making processes.

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Transcript

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