We make culture less complicated.
We work with institutions and regulators, to make culture and its impact clear. Our methods provide transparency, a fundamental prerequisite for effective supervision and monitoring. By identifying the drivers of culture, we also show leaders how they can change behavioural norms to achieve different outcomes.
We want to help leaders create organisational environments that manage risk well, and drive ethical, sustainable business performance. Sometimes this requires change – and we recognise that organisations are influenced by their environment just like individuals are. For this reason, we are passionate about working with various parts of the system: as practitioners, researchers and influencers.
Our work with institutions
We are typically engaged by institutions to conduct reviews or design methodologies for assessing the impact of culture on risk at different levels. Common projects include the following:
Internal Audit Cultural Risk Programs
We develop and pilot audit programs focused on cultural/ behavioural risk, working as either a co-sourced resource, or independently. We emphasise an evidence-based methodology, and reporting that is outcome-focused and constructive.
Board Effectiveness Reviews
We conduct reviews that reflect emerging expectations on Boards, using qualitative and quantitative assessment techniques. We offer supportive challenge, designed to drive reflection and insight into drivers of effective oversight, decision making and leadership.
Independent Cultural Risk Reviews
We conduct expert reviews of cultural / behavioural risk that are completely independent and objective. Such reviews can help ensure avoidance of bias, and provide a completely safe environment for staff to contribute their experiences confidentially.
Cultural Risk Governance Design
We design strategies, mechanisms and methods for the proactive management of cultural risk across all lines of defence - for example, self-assessment tools, supervision and monitoring techniques, escalation and reporting approaches for senior management and the Board.
Our work with regulators
We believe regulators have a critical role to play in strengthening culture across various sectors, and especially in the financial system. We are therefore committed to supporting their work in a variety of ways. Due to the confidential nature of our regulatory engagements, we cannot share examples of projects we have completed. The descriptions below provide general information only on the types of services we can provide based on our expertise.
Supervisory Reviews
We can conduct focused reviews of cultural / behavioural risk in individual institutions, for a range of purposes related to governance, conduct and risk management effectiveness. We can undertake our work independently, or as a part of a team alongside specialist and frontline supervisors.
Methodology Design
We can provide expert support for regulators looking to introduce more intensive supervision of cultural risk, including design and piloting of specialist methodologies, industry engagement, capability building, and strategies for managing associated risks and challenges.
Research and White Papers
We can design and conduct industry-level research on issues related to culture, conduct and behaviour, incorporating both behavioural science techniques and traditional data analysis. We are also experienced at writing white papers to build engagement, education and change.
Training and Education
We can develop tailored capability building programs for various segments of the regulatory community, and have delivered a variety of sessions from introductory training, to more in-depth skill development workshops, coaching and mentoring.
Our other activities
We strongly believe culture can be a force for good, or a barrier. To ensure it has a positive influence, leaders in all parts of the system need to understand it, and one of our primary goals is to help improve this understanding. Whilst our work with institutions and regulators is key to this goal, we also seek out a range of other activities that we think help further this understanding via research, insight generation and knowledge sharing with other parts of the system. This includes various types of engagement with the following groups:
Director community
Board education sessions, participation in bodies such as the Australian Institute of Company Directors, presentations and white papers on topics of particular interest to Directors, and informal knowledge sharing.
Professional and industry bodies
Regular workshops and webinars, public presentations and panel discussions at industry conferences. We have a particularly close relationship with the Institute of Internal Auditors, both in Australia and overseas.
Universities
Collaboration and support for both academics and students. We provide opportunities to Australian postgraduate students to participate in field-based practice and research through our work, and maintain close relationships with researchers at leading universities in the UK and US.
Non-government organisations
Facilitation and dissemination of their work on culture-related issues. We are supportive of the UK’s Banking Standards Board, and seek out opportunities to leverage their efforts, and build similar initiatives in other jurisdictions.