Good governance is fundamental to the effective running of all regulated firms. It’s about defining leadership within a framework of controls which enable risk to be assessed and managed appropriately. Effective governance is as much about culture and values as it is about the framework in place, and changes to governance arrangements on their own will not necessarily generate the right outcomes.
One of the key elements that regulators consider when investigating a firm or an issue, is the effectiveness of the governance arrangements and culture that were in place. And where firms are found lacking regulators are increasingly looking to hold to account the individual(s) who were ultimately responsible for the oversight of that area of the business.
Helping you get governance and culture right
Assessing whether governance arrangements are good enough and would stand up to regulatory scrutiny can be challenging. Our consultants have extensive experience of both assessing the effectiveness of governance arrangements and also helping firms put a robust, yet proportionate, governance framework in place.
The interpretation of culture and governance is, in some areas, subjective. We have a broad and deep understanding of how to apply the rules and standards and what good practice looks like. We take time to understand individual businesses and appreciate that no two firms are the same, and take great care to ensure our recommendations are clear, practical and proportionate.