Culture Audit in Financial Services

Dr Roger Miles researches behavioural risk and the impacts of conduct regulation. He is Head of Faculty for UK Finance's Conduct and Culture Academy, an industry-wide initiative which gathers, establishes and disseminates 'best practice' in the measurement and regulatory reporting of human-factor risks. He counsels Boards on human risk factors and uncertainty, delivers bespoke risk workshops for leadership groups in a variety of sectors, and is regularly called upon to liaise with professional groups internationally.

• Chapter - 01: A culture quest for ‘better behaviour;Chapter - 02: ‘How regulators’ ‘behavioural approach’ went global – with culture its latest focus;Chapter - 03: ‘The house is on fire - How regulators own research has pointed to ‘culture reset’;Chapter - 04: What’s the big idea? (1) - How conduct regulators use behavioural science;Chapter - Interlude One: From poacher to gamekeeper to poacher… to scientist - A supervisor’s tale;Chapter - 05: What’s the big idea? (2) - Regulators’ challenge to firms - framing ‘purposeful culture’;Chapter - 06: A ‘behaviour-at-risk’ agenda emerges - Questioning purpose, lost trust and cultural coercion;Chapter - 07: The new mindset and language of culture - Assessing financial and non-financial conduct;Chapter - 08: Audit basics - How the practice of culture audit differs from conventional auditing;Chapter - 09: The new management reporting information (MI) for culture Part 1 - Getting past the old MI;Chapter - 10: The new reporting Part 2 - Developing the framework - from culture models to better questions and indicators;Chapter - Interlude Two: Case example - Culture rating in a retail bank;Chapter - 11: Interventions and enforcements - How regulators have responded to a ‘culture crisis’;Chapter - 12: Intelligence gathering versus surveillance - Tried and failed methods; putting the latest research tools to work;Chapter - Interlude Three: A sector-wide group seeks culture ‘tells’ - (Observing indications of good and poor conduct);Chapter - 13: Putting respected research tools to work, example 1 - Tools for cultural transformation - Barrett Analytics;Chapter - 14: Putting respected research tools to work, example 2 - Using the CultureScope ‘combined analytic’ to deliver measurably better culture;Chapter - 15: What regulators really want - Wrap-up and look ahead;Chapter - 16: Glossary;Chapter - 17: Recommended reading;

"A highly useful travelogue written by acclaimed experts in an easy-going manner that nevertheless serves to deepen awareness and understanding. After a survey of concepts and how conduct regulation is evolving, Culture Audit opens a window on using behavioural science to frame 'better questions' and introduces straightforwardly the benefits of some advanced technology. These elements weave together to explain where thought leadership has been and points to areas for further exploration like purpose, individual character development and the excitement that awaits firms who are not quite prepared for their first earnest discussion of culture with a regulator."