Accountability, Culture & the Future of Ethical Banking (Programme taster)

This taster session for the Professional Diploma in Leading Cultural Change and Ethical Behaviour in Financial Services explores how individual accountability regimes are reshaping culture and behaviour within the financial services sector. Drawing on insights from law, behavioural psychology, and regulatory theory, the session outlines the emergence of accountability frameworks such as the UK’s SMCR, Australia’s BEAR/FAR, and Ireland’s IAR.

These regimes aim to improve risk management and governance by clarifying responsibilities and making senior individuals directly accountable. The session considers how firms and regulators can strengthen the impact of these regimes by fostering psychological safety, learning from errors, and prioritising process-based accountability over purely outcome-based enforcement. It also introduces the innovative concept of a "process sandbox"—a collaborative regulatory space to build shared understanding and proactively address complex challenges.

Finally, the session reflects on the need for further professionalisation in banking, arguing that embedding shared ethical norms through professional identity may help shift industry-wide values. By focusing not only on rules and sanctions but on culture, purpose, and professional duty, this session offers a fresh lens on preventing misconduct and promoting ethical behaviour in financial services. The Professional Diploma in Leading Cultural Change and Ethical Behaviour is now open for applications and you can apply here