London, UK. 1 July 2015. – Global performance improvement solutions provider GP Strategies announced today that its BlessingWhite and Bath Consultancy Group divisions, have released a new report called, “Leading in the New Regulatory World”. The report is the product of in-depth interviews conducted with financial services professionals and senior individuals from 21 of the world’s leading financial services organisations. The interviewees were Heads of Compliance, Audit, Customer Service, Learning and C-Suite Executives from retail and wholesale banking, financial advisory, insurance and asset management companies to gain insights from across the financial services spectrum.
As governments around the world place the financial services industry under closer scrutiny than ever before, there is a real need for strong leadership to drive the shift in cultures, behaviours and mindsets needed to restore public confidence. Leading in such a complex, uncertain and tightly regulated environment requires continuous learning and personal development to navigate the challenges, but an insightful new report has been published to provide guidance on how to move beyond basic compliance into ethical high performance.
Regulated environments are at a continuous learning edge, balancing innovation and entrepreneurialism while following due processes with rigour and precision. A significant slip up could now cost millions of pounds in fines and cause untold damage to a brand, so it is important for leaders to ensure talented individuals aren’t paralysed by analysis and fear, and are given the right kind of training, motivation and rewards to develop the mindsets required.
The key findings of the report include the following:
- Leaders must communicate very clear principles about what is important and valued in order to guide priorities and actions, in a constantly shifting landscape.
- Leaders now need to see their organisation through the lens of multiple stakeholders, including customers, employees and regulators, in order to get the right balance between profitability and prudence.
- Financial services leaders must take responsibility and adopt a collaborative approach in order to shift the culture and conduct of the industry.
- Leaders may need to focus on their employee brand and recruitment processes, in order to attract and develop the right kind of talent who will be motivated for high performance while maintaining the integrity of the organisation.
- Leaders must invest in education that aligns activity with a strong ‘why’ to create a sense of purpose and custodianship in financial services long-term, in order to achieve sustainable change.
To download the full “Leading in the New Regulatory World” research report, go to: http://impact.gpstrategies.com/LeadingRegEnvironmentResearchJune2015.
About GP Strategies
GP Strategies is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies’ solutions improve the effectiveness of organisations by delivering innovative and superior training, consulting and business improvement services customised to meet the specific needs of its clients. Clients include Global 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com or www.gpstrategiesltd.com.
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