The UK Banking Standards Board: An outcome-based approach to assessing organisational culture
Abstract
The Banking Standards Board (BSB) is undertaking a new approach within the UK banking sector to help firms understand and manage their culture, providing boards with objective evidence, support and challenge on issues relating to culture, behaviour and competence, and facilitating cross-firm working to identify good practice. It sets out to measure not culture per se (which will differ across firms), but rather the outcomes generated by that culture. The results allow firms to gauge where they are performing well and where progress needs to be made, and to see this across different parts of their organisation, contrasting against their peers and over time.
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Author's Biography
Alison Cottrell is CEO of the Banking Standards Board (BSB), a non-statutory organisation established in April 2015 to help raise standards of behaviour and competence across the UK banking sector. The BSB provides the boards and senior teams of member banks and building societies with the evidence, support and challenge to help them manage the culture of their organisation and identify and learn from good practice. Alison began her career in the City of London as an economist covering international fixed income and currency markets. She joined HM Treasury in 2001, becoming Director of Financial Services in 2009 with responsibility for a wide range of policy areas including bank lending, payments, competition and pensions guidance. She combined this role for the three years to 2014 with that of Director of Corporate Services, focusing on staff development, engagement and culture.
Citation
Cottrell, Alison (2018, February 1). The UK Banking Standards Board: An outcome-based approach to assessing organisational culture. In the Journal of Risk Management in Financial Institutions, Volume 11, Issue 1. https://doi.org/10.69554/CAEW3871.
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