Our Culture Assessment Framework is a pragmatic and efficient evidence-based assessment of your culture and is aligned to FCA expectations.
The FCA expects you to put the interests of your customers first and it wants evidence that you measure your culture. Policies and procedures are all very well, but what the FCA really wants to know is that good intent translates into good outcomes for your customers.
A good culture is the foundation for engaged staff, loyal customers and a satisfied regulator. So, focusing on it now makes good business sense.
Our Culture Assessment Framework is an evidence based review of culture that focuses on cultural drivers, highlighting examples of good and poor culture. With our solution discover where your culture is having a positive or negative impact on customer outcomes and monitor your culture to track progress. As compliance and risk experts with a laser focus on transforming culture and conduct, you can be sure that our Culture Assessment Framework is pragmatic, efficient and is aligned to FCA expectations.
How can we help?
Our Culture Assessment Framework is an evidence-based assessment that focuses on behaviour and customer outcomes within the context of regulatory principles. We do this by assessing cultural drivers in three broad areas and seek to determine whether there is any disconnect between culture at leadership and operational levels:
Your Leadership Culture
We examine the effectiveness of your leadership in influencing a positive culture, such as setting the tone from the top, governance, accountability, decision making and appropriate use of internal and external feedback loops.
These are the elements that influence your culture and impact your ability to engender leadership across our organisation.
Your Operational Conduct
We look for evidence of your culture working in practice within your business model and strategy, across the product lifecycle and on the front line to establish if there is alignment or disconnect between leadership culture and operational conduct.
This is where we find evidence of your culture working in practice and the effectiveness of your systems and controls.
Your Cultural Influencers
We consider whether your firm has adequate influencers in place to support good culture and encourage employees to do the right thing.
We look at areas such as training and competence and effectively managing conflicts of interest. We also consider whether your performance management measures delivery of good customer outcomes, including financial incentives that reward customer-centric behaviours.
Why partner with TCC?
Partnership – we work with you to understand your business model and tailor the Framework to your unique culture.
Value-driven – by combining and enhancing your existing audit and review work our Framework is efficient and cost-effective.
Evidence based – you will gain essential evidence to help you better manage your risks and satisfy the FCA.
Specialists – we are specialists in culture and conduct risk so you can be assured our solution will be robust and effective.
Download our brochure for more information on how you can benefit from our Culture Assessment Framework
We take a look at the FCA's publication of its Annual Report and Accounts, MiFID II Policy Statement, firms taking part in the Advice Unit, a speech on the purpose of free trade and open markets in financial services and more.