Conduct Risk: A Practitioner's Guide
Conduct Risk: A Practitioner's Guide
Peter Haines
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Many financial institutions have been heavily fined because of the conduct of their employees which ranged from the LIBOR scandal, money laundering activities, mis-selling of financial products including Payment Protection Insurance (PPI), interest rate protection, etc. The industry is struggling with how to manage conduct risk and the financial and reputational impacts. This issue remains at the top of banks’ agendas and has become of exponential interest to regulators.
Conduct Risk is addressed in both a holistic and practical way, allowing the reader to grasp the concept of conduct risk whilst also providing access to the appropriate information to resolve their immediate issue. An overview and analysis of conduct risk is set out, followed by a review of recent case studies and the associated challenges, drawing on the practical experience of those writing the specific chapters.
Conduct Risk demonstrates the alignment between conduct, culture, and behaviours, all of which need to be managed effectively and in harmony. It will inform thinking, encourage the resolution of problems, and enable boards and senior management to better challenge the current state of play.
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Table of contents
Section 1 - Introduction and Overview
Foreword - Jeremy Heales
Introduction - Peter Haines
1. An Overview of Conduct Risk - Paul Sharma
2. How Does Conduct Risk Manifest and What Are Its Root Causes? - Annie Searle
3. What Are the Driving Forces and Who Owns Conduct Risk? - Sam Lee
4. Scope and Ownership Within the Business - Victoria Stubbs
5. Lessons from Financial Services - Peter Haines
Section 2 - Responding to the Challenge
6. Ethical Culture: What, Why and How - Elizabeth Sheedy
7. Language and Conduct Risk: Limited Language - Big Blind Spots - Clare Payne
8. An Anthropological Perspective on Conduct Risk - Dominic Fielding and Dave Ingram
9. Identifying and Measuring Conduct Risk - Paul Brady and Gabriella Barker
10. Risk Appetite Setting and Modelling of Conduct Risk - Peter Mitic
11. The Effect of Conduct Risk Losses on Reputation - Peter Mitic
12. Bringing the Customer Back to the Foreground: The End of Conduct Risk? - Bertrand Hassani
13. Managing Conduct Risk - Kimon de Ridder
14. Closing Comments on the Future of Conduct Risk - Wei Yang, Bertrand Hassani, Peter Mitic, Clare Payne, Elizabeth Sheedy, Annie Searle and Kimon de Ridder