This session featured a panel discussion on the roles and contributions of industry bodies in promoting conduct and culture within the financial sector. Panelists included Alison Cottrell, former CEO of the Financial Services Culture Board in the UK, Marion Kelly, CEO of the Irish Banking Culture Board, and Maria Ana Barata, Senior Adviser at the European Banking Federation. The discussion centered on the unique contributions of these bodies in maintaining strategic focus on culture and behavior, fostering collaboration, and enhancing trust within the financial industry.
Participants discussed the importance of stakeholder engagement, maintaining a strategic focus on culture and behavior, and the role of industry bodies in highlighting both positive and negative aspects of the sector. The conversation also focused on driving continuous improvement through collecting and pooling data from firms to provide comparative insights and facilitate learning. Other mechanisms included setting standards and best practices while fostering collaboration and dialogue among members to address cultural and ethical challenges in the banking sector.
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