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Annual Review 2018/2019

NEXT STEPS

Drawing on both our Assessment findings and our wider work with firms, we have identified a number of new and ongoing themes that will shape our work in 2019/2020.

There were, of course, a much larger number of potential themes that emerged from our analysis and that could be explored. Not every potential area of interest can or should, however, be undertaken by the BSB. To ensure that we prioritise effectively and use our resources efficiently, whatever we do must be:

  • appropriate, given the BSB’s scope and our remit of helping to raise standards of behaviour and competence across the UK banking sector in the interests of customers, clients, members, employees, the economy and society as a whole;
  • substantive enough to make a difference;
  • timely and relevant;
  • realistic, given our capacity and capability; and
  • genuinely useful — avoiding duplication of work already being done well, or where BSB involvement would add little practical value.

Taking all of these considerations into account, we plan to focus over the coming year on three themes:

  • decision-making – using both the BSB Survey and other approaches to understand better the connection between decision-making, a firm’s social purpose, and outcomes.
  • technology and culture — digging down into the perspectives of the people who design and manage technology for our member firms and their customers or members.
  • speaking up and listening — collaborative work to understand best practice and to share it.

Alongside this, we will continue with work already underway (and described in our last Annual Review and other BSB publications over the year), on employee wellbeing, effective implementation of the Certification Regime, and articulating what ‘good’ looks like for consumers of banking services.

In all of these areas, we will continue to facilitate the sharing of learning and experience across member firms through BSB events and our Member Forum, and introduce perspectives also from outside the sector. As we continue to analyse the cumulative body of Assessment data and work with member firms and with other organisations (both within and outside the UK banking sector), further topics and issues may of course emerge, and our work programme will accordingly be kept under review.

We are continuing to develop the BSB Assessment exercise with a view to making it ever more useful to member firms. We expect this process of continuous improvement to include, over the coming year, new information-gathering and analytical techniques, and the quicker provision to firms of Survey reports.

That the Survey was run in 2018 across different countries (including Ireland, for the new Irish Banking Culture Board) and with some non-banking business areas of global banking groups, demonstrated the scalability and applicability of the exercise. While designed with the UK banking sector in mind, the issues that the Survey explores are not unique to any specific sector or jurisdiction, and we would be happy to discuss its broader application with interested firms or organisations over the coming year.

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