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AFB Practice Workshop: How can Banks Measure and Monitor Culture, Diversity and Inclusion?

In recent years culture, diversity and inclusion (D&I) have been continued areas of focus for the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and other regulators globally. There have been several key publications by the UK authorities in this area, including DP18/2 (Transforming culture in financial services), and the FCA and PRA D&I Consultation Papers (CP23/20 & CP18/23) published in September 2023.

Culture and D&I are also not simply regulatory and compliance matters but are also linked to enhanced business and commercial outcomes.

This interactive practice workshop, in partnership with BDO LLP, will help AFB members understand the importance of culture and D&I in the regulatory context.  It will help delegates learn how to establish effective culture and D&I frameworks, as well as highlighting how banks can measure and monitor culture and D&I using employee data and management information.

Why attend?

Attendees will have the opportunity to take part in an interactive session with open questions, group discussions, and sharing of expertise from the team at BDO LLP.

This workshop will provide:

  • An overview of the cornerstone of effective Culture and D&I frameworks, using interactive discussions and practical examples.
  • A discussion of common views on culture and D&I, including the view that culture cannot be measured.
  • A practical exercise centred on measuring and monitoring culture and D&I, including example metrics.
  • BDO concluding comments, including industry insights around good practice and common challenges/pitfalls regarding culture and D&I.

Attendees will be seated in groups for breakout sessions and will feed back their thoughts to the rest of the group, with each discussion facilitated by a member of the BDO team.

Who should attend?

HR/Chief People Officers; Risk and Compliance officers; Internal Audit members

Workshop Leaders

Sasha Molodtsov 

Sasha is a Financial Services Partner, leading the Diversity & Inclusion advisory team, which sits within BDO’s Financial Service’s ESG and Regulatory Advisory practice, supporting firms’ C Suite and decision makers to understand, monitor and report DE&I and ESG related matters as they relate to regulation and industry expectations. Alongside her technical role at BDO, she is also involved in BDO’s Diversity and Inclusion working groups and employee networks. She sits on BDO’s CEDAR (formerly BAME) Executive, LGBTQ+ network and co-leads the Financial Services’ Culture & Inclusion Group. Sasha is also a mentor with The 30% Club, The Prince’s Trust and Women in Banking and Finance, and co-leads the Diversity Project’s Ambassador programme. 

Shrenik Parekh

Shrenik is a Director in BDO’s Financial Services Advisory practice and leads BDO’s FS Governance and Risk Advisory team. Shrenik has deep experience in providing risk and regulatory advisory services to foreign banks operating in the UK regulatory environment, and has particular specialist knowledge in relation to the areas of Board effectiveness, governance, conduct and culture. Shrenik works closely with Board members and the NED community in relation to regulatory, governance and risk matters.

Alison Mackey

Alison is an Associate Director in BDO’s Financial Services Internal Audit team based in London. For over seventeen years, Alison has worked across the three lines of defence, having spent her career at NatWest Group where she most recently worked as a Senior Manager in their industry-leading audit team focussing on Behavioural risk and culture. Alison was responsible for the delivery of complex, behaviourally focused audits which used various research methods to analyse employee behaviours through a risk lens.

Scott Thompson

Scott is a Manager within BDO’s FS Advisory practice, having joined the firm over seven years ago. Scott is a Chartered Accountant (ICAEW) and specialises in governance and risk advisory across the FS sector. Scott has particular experience in delivering internal audits covering diversity, inclusion and culture, as well as broader advisory and regulatory engagements spanning a number of risk areas.

Logistics

Format:   In-person at BDO LLP, 55 Baker Street, London W1U 7EU

Cost:        £255.00 + VAT

Date:       Tuesday 19 March 2024

Time:       08:30 – 11:00 (Registration and Breakfast from 08:30-09:00)

Places:     Maximum of 30 people

If you would like to submit a question or have any specific areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk. You will receive details on how to join this in-person Workshop a week before the event. The Workshop will be held under the Chatham House Rule, to promote open and constructive discussion.