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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

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Internal and External Culture Assessment Tools

Internal and External Culture Assessment Tools

Roger Miles

25 years: Behavoural science & conduct

In part one of this video Roger described how conduct regulators are introducing culture measurement from 2021 onwards. In this video, he takes a deep dive into culture assessment and reporting tools and explains both internal and external tools required for cultural assessment.

In part one of this video Roger described how conduct regulators are introducing culture measurement from 2021 onwards. In this video, he takes a deep dive into culture assessment and reporting tools and explains both internal and external tools required for cultural assessment.

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Internal and External Culture Assessment Tools

14 mins 8 secs

Overview

The change in the style of engagement , from the old senior managers regime and conduct risk to the new culture assessment, adds a layer to the existing conduct assessments. Faced with a shift in the style of interaction with conduct regulators in the UK and other conduct jurisdictions, new analytic tools that are more predictive and can assist firms in intervening sooner to prevent any culture wobbles or early signs of misconduct are required.

Key learning objectives:

  • Identify the external tools for culture assessment

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Summary

What are the internal tools for culture assessment?

To stop any wobbles in culture, or early signs of misconduct, firms should look into using better indicators. Starting at a headline level the firms should already be doing staff surveys, which look at the sentiment among employees – asking people to “self-report how they’re feeling”. People aren't always good at recognizing how they feel because most employees don't have any formal training in psychology. To overcome that problem, it’s better if you can put more effort into compiling your reporting indicators based on direct observation.

It is important to look into  human factor MI which include measures for psychological safety, cognitive diversity, leadership character assessment and various others. Firms have got various tools for culture assessment measures and they’re playing with these in their own experimental space. Some of these assessment tools we can take a quick look at here:

  • Ivey Leadership Character Assessment -  UK conduct regulator promoted this tool at a series of events during 2020. This assessment is all qualitative, about the values that leaders have and exhibit, their ability to get on with teams and to motivate people and so on. The Ivey model assesses the character strengths and weaknesses of your firm’s leaders.
  • CultureScope tool - This uses 15 scalar pairs of behaviour factor assessments to pinpoint contrasts between individuals’ frontline perceptions, that is how you or any other person or team is getting on in your firm, contrasted against and firm-wide values. Where are the gaps and mismatches in terms of what the firm says it’s doing and what people individually perceive is happening? So, it’s a kind of very sophisticated gap analysis that equips you for better culture change.

What are the external tools for culture assessment?

  • Glass Door - asking ex-employees and indeed current employees what they think of you.
  • Trust Pilot - asks the customer for any service and what their experience was of that service and whether they trusted the service as provided.
  • Violation Tracker - Any potential employee may well check before coming to a job interview, this looks at each firm’s public track record of, violating rules of conduct, and other general rule-breaking.
  • Did They Help?.com - It is an informal consumer-driven online metric that’s essentially saying:  How good was this brand, or even senior individual, at dealing with the consequences, particularly for ordinary people.

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Roger Miles

Roger Miles

Roger researches behavioural risks in organisations, and advises senior leaders on how best to communicate risk and conduct matters. Previously, Roger ran risk communication programmes for professional bodies and the British Government. He now runs industry-level Academies for Conduct and Culture, and produces workshops with financial firms.

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