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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14 mins 8 secs
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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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:
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