Roger Miles – författare

Conduct risk is at the core of behavioural regulation, a new approach to regulating financial services, whose new agencies and public prosecutors have spread rapidly across the world. Its prosecutors intervene assertively to challenge financial service providers to show clear evidence of a new customer-centric approach, which understands and responds to the hidden drivers of customer behaviour. They use their unprecedented powers to levy very large fines and even to imprison wrongdoers - often for not taking precautions rather than for any active wrongdoing. Conduct Risk Management is a tool for recognizing, acting on, and predicting conduct risk impacts in regulated business. Conduct Risk Management sees beyond econometric and other ''box-ticking'' traditions of risk management. Whilst protecting senior managers, it helps all staff to make positive use of conduct risk to promote behaviour the regulator will accept as ''good'', as good behaviour is good business. The new conduct regulations personally affect every manager in financial services, and their suppliers, with new regulations making senior managers liable to imprisonment for failures in organizational conduct. Conduct Risk Management sets out plainly what practitioners need to know to understand the regulator''s intentions, to prove compliance, protect competitiveness and maintain licence to operate.

In the next wave of conduct regulation in financial markets, from 2021 conduct regulators in the UK and elsewhere expect firms to produce evidence on how they are improving behaviour and culture. Facing this, many practitioners are anxious that their current reporting and management information (MI) are irrelevant to meeting as-yet unclear regulatory expectations.This book provides the insights and tools firms need to report on culture, securing both enhanced business value and the regulator''s approval. Culture is now seen as a key contributor to good governance, feeding into existing discourse on environmental, social and governance (ESG) factors and the emerging dialogue on ''non-financial (mis)conduct'', but conventional measures of business quality are unfit for the new reporting agenda. Culture Audit in Financial Services follows the arc of ''behavioural regulation'' to examine what the regulator really wants, before offering guidance on how culture audit differs from conventional auditing, how to put the latest pure-research findings to work, and the key features of well-designed conduct and culture reports. Written by an impartial author and a variety of contributors with extensive experience working with practitioners, regulators, and many of the world''s finest academic initiatives, this book is filled with practical, grounded advice on how best to approach this new challenge and avoid infractions.