For the past eight years, the U.K.’s Financial Services Culture Board (FSCB), an independent, self-regulatory body, has worked with firms in the financial sector across the country to address company culture and improve standards of behavior and competence. Though it is closing this year due in part to a lack of funding to properly carry out its mission, the FSCB has nonetheless conducted important research in order to create culture solutions benefiting banks and other financial firms.
Rick Borges, Director of Strategy at the FSCB, carries senior responsibility for the board’s annual assessment of culture, behavior, and competence. Having worked in the public sector for the U.K. Department of Health, on the National Information Governance Board for Health and Social Care, and in other high-level government positions, Borges brings to the table a wealth of knowledge on banking in the U.K. and around the world.
In his first Ascend Radio appearance, he speaks to Ascend Editor-in-Chief Paul Leavoy about a variety of topics, including but not limited to:
- The collapse of Silicon Valley Bank (and whether regulation could have affected it).
- The efficacy of self-regulatory initiatives in the financial sector.
- How financial institutions can regain and retain the trust of investors.
- Company culture in the banking sector.
- The three lines of defense against risk in finance.
- The history of the FSCB and the circumstances surrounding its closure.
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