Culture - understanding regulatory expectations

Course Outline & Objectives

Improving the culture in financial services firms is a continuing priority for the regulators. Following implementation of the Senior Managers and Certification Regime (SMCR), with its emphasis on individual accountability and behaviour, the broader issues of culture within firms are now receiving increased regulatory attention. Further initiatives relating to Diversity and Inclusion and the consequences of the proposed Consumer Duty will intensify the scrutiny on cultural health. This timely workshop will help participants develop their understanding of the culture agenda and its implications for their business.

Specifically, this half day workshop will help you:

• Understand what the regulators expect from the culture in your firm
• Identify areas of potential cultural risk, sensitivity and conflict
• Review the role and significance of culture in relation to your organisation’s strategy, business model and governance framework
• Culture and the SMCR: examine the obligations on individuals, both Senior Managers and other staff
• What next? Review the latest developments in the culture agenda and the implications for your business

Who will benefit?

This workshop is intended for those who are new to the topic or wish to refresh or develop their understanding of this fast changing area. This will include Human Resources, Risk and Compliance specialists, as well as Senior Managers (SMFs) who have direct personal responsibility for culture in their organisation. The programme is equally relevant for those working in solo or dual regulated firms.

It lays the foundation for our supplementary course on Managing and Monitoring Culture - Practical Approaches for Regulated Firms.

Workshop Programme

The topics covered may include but are not limited to:

• Setting the scene - what do we mean by culture?
• Culture in a regulated environment
• Regulatory approach to the supervision of culture in firms
• Regulatory grip over individuals
• Regulatory developments and the direction of travel