Conduct Risk Management: Using a Behavioural Approach to Protect Your Board and Financial Services Business

ISBN-13: 9780749478612 / Angielski / Miękka / 2017 / 312 str.

Roger Miles

Opis

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.

Recenzje

"With the latest shocks to unsettle the predictable and rational world of deterministic and logical data-driven assumptions analysis, culminating in our inability to foresee Brexit and the rise of Donald Trump, financial practitioners would be well advised to pick up, discuss and take note of the behavioural approaches outlined in Dr Miles's Conduct Risk Management. The tools in here will help practitioners get themselves 'match fit' for managing risk in a world where almost everything you thought you knew may turn out to be wrong." Dr David Hancock, Director HM Government Cabinet Office - Infrastructure and Projects Authority; former Head of Risk for TfL

Spis treści

• • Chapter - 01: Time for a Fresh Approach;
  • Chapter - 02: Behavioural Science Sets Regulators Thinking...;
  • Chapter - 03: The Onset of Financial Conduct Regulation;
  • Chapter - 04: Why Regulators had to Change Direction;
  • Chapter - 05: The Roots of Misconduct;
  • Chapter - 06: The Politics of Prosecution;
  • Chapter - 07: Establishing What Your 'Good Behaviour Looks Like';
  • Chapter - 08: The 'Behavioural Lens', Part 1;
  • Chapter - 09: The 'Behavioural Lens', Part 2;
  • Chapter - 10: Looking Back, Looking Ahead

O autorze

Dr Roger Miles researches behavioural risk and the impacts of conduct regulation. He counsels Boards on human risk factors and uncertainty, and delivers bespoke risk workshops for leadership groups in government, NGOs and the professions. He teaches risk-related psychology at graduate schools including Cambridge University and the UK Defence Academy.

Roger Miles also co-edits the LSE's annual Behavioural Economics Guide and publishes best practice guidance notes through professional bodies including UK Finance, the Association of British Insurers (ABI), Global Association of Risk Professionals (GARP) and the Institute of Operational Risk (IOR).