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For many firms, the Conduct regulator's ?Culture audits? look like a short-cut to enforcement actions against Senior Managers. Seeing this as a Compliance risk, they design their Conduct and Culture programmes defensively. Because they perceive Culture as abstract and hard to measure, many firms fall back on traditional risk models - which are not designed to address human behaviour. However, by rolling out resource-intensive control processes aimed at ?keeping the regulator happy?, firms are passing up a commercial opportunity to create long-term competitive advantage by basing their Conduct initiatives on fostering behaviours that also deliver long-term value.
We look beyond the traditional defensive stance and look to build and adopt a long-term, positive approach to Culture. Using robust science, we can now identify, measure and manage the underlying behavioural drivers of misconduct and of good Culture, showing member firms how to put these insights to work in ways that build business value.
A business value approach to Culture not only keeps the regulator on-side but yields far wider benefits, including keeping valued staff and clients for longer, fostering innovation and collaboration, to drive stable earnings growth, build durable capital value and create a resilient 'social licence?.
Over breakfast with strictly Executive and non-Executive Board members, our Conduct and Culture specialists reveal how the latest behavioural insights and Culture assessment tools can transform staff engagement with the Conduct agenda. Taking firms beyond conventional Risk Frameworks and Culture assessment tools (the flawed methodology of 'staff sentiment surveys?) towards a truly behavioural approach, this session presents a clear pathway to move ahead of the regulator's expectations, minimise the risk of Conduct enforcement and simultaneously enhance business and strategic value. We identify the significant value-based behaviours and how to link these into financial value, in ways that you can discuss easily with staff, shareholders, clients and regulators
By the end of this workshop you will be able to:
Financial practitioner turned specialist researcher in the field of regulated Conduct
Dr Roger Miles researches human-factor risks among regulated financial providers worldwide, helping steer their responses to new Conduct regulations, ...
Dr Roger Miles researches human-factor risks among regulated financial providers worldwide, helping steer their responses to new Conduct regulations, Culture Audits and capital charges against Reputation Risk. He convenes knowledge sharing groups of senior executives including forums at UK Finance, whose Conduct and Culture Academy he co-founded in 2017.
Following audit practice with PwC he advised the Boards of large publicly listed companies in the UK, EU and US as a partner in investor relations firm Georgeson & Co. He was Director of Communications and Enterprises for the BBA (under Sir Brian Pitman), UK corporate affairs lead at FBE in Brussels, and later a Head of Risk Communications in HM Civil Service, before giving all that up to requalify as a risk psychologist and university lecturer.
He frequently works by invitation directly with firms? senior leaders on in-house initiatives to develop their frameworks for conduct risk and culture.
With research among more than 400 firms participating in UK Finance Conduct sessions since 2016, he has amassed a unique exemplar body of conduct programmes, reporting designs, indicators and definitions. He welcomes sharing these insights with UK Finance attendees, to inform discussions of ?exemplary practice? in measurement and reporting on conduct, culture and reputation.
Session attendees consistently rate him 5* / 95-100% for ?expertise?, ?ease of understanding?, ?open and engaging?, and ?enjoyable experience?. Each year he leads small-group interactive workshops for more than 1000 attested Senior Managers in financial firms; since 2010 he has taught one-to-one or in small groups, 10,000+ leaders and divisional managers in financial, professional and government service.
His research often uses language analytics and specialist 'sensitive topic research? techniques to identify previously unvoiced concerns. These findings, unique to each firm, guide the design of the firm's framework of human-factor risk indicators and reports, encouraging the start of productive ?conduct conversations? at all levels, embedding spontaneous best practice in risk reporting.
He lectures as a visiting SME at business schools in Cambridge and London, and at UK Defence Academy; and moderates cross-industry working groups for Board appointees, Compliance, Legal and HR professionals.
His published work includes the financial sector's popular handbook Conduct Risk Management: A behavioural approach (2017) and Culture Audit: Reporting on behaviour to conduct regulators (2021), which includes chapters co-authored with senior regulators in the UK, EU, US and APAC. (Both titles available to UK Finance session attendees at a special discount). He co-edits the Encyclopaedia of Key Psychology Concepts for the London School of Economics annual Behavioral Economics Guides and is a contributing editor at Thomson Reuters Regulatory Intelligence.
In 2006-7, using live observation and narrative research, he analysed how banks were ?gaming? their public reporting on regulatory capital. King's College London awarded him a PhD for this work, whose theory was validated abruptly when global financial markets crashed in 2008. In 2010 he accurately predicted the change of financial regime to ?behaviour-based regulation?; the UK's Conduct regime launched in 2013 and included core principles he had earlier identified.
Chairman, SID, NEDs, CEO, CFO, COO, CRO, CCO, General Counsel, HR Director, Significant Business Heads.