BSRB has published its annual review for 2015/2016. Key themes it reviewed in 2015 included:
- the alignment of a firm’s purpose, values and culture;
- the difference between a focus on culture, and on compliance;
- leadership and key person risk;
- incentives, rewards structures and practices;
- fostering challenge and speaking up; and
- the provision, take-up and effectiveness of staff training and support.
BSRB then identified key areas of work for 2016:
- designing and undertaking the 2016 assessment exercise, informed by the key themes identified in 2015;
- promoting professionalism across all parts of the banking sector and at all levels;
- exploring the relationship between law, regulation and ethics, and what this means in the specific context of banking and banking culture; and
- developing voluntary standards that will support a better service for customers and other relevant parties across the sector.
(Source: BSB publishes 2015/2016 review)