Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

UK Corporate Culture in the Banking Sector - Dissertation Example

Comments (0) Cite this document
The author of this paper "UK Corporate Culture in the Banking Sector" seeks to explore how UK corporate culture in the financial services sector was a key contributor to the major conduct failings within the banking industry in the last ten years…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful

Extract of sample "UK Corporate Culture in the Banking Sector"

Download file to see previous pages The subject represented by UK culture in the banking sector that looks into the role of culture as a key contributor to major conduct failings between 2008 and 2018 delves into an area that has not received much in the way of scholarly attention. The topic is important since the banking sector represents varied departments and processes where the ethics, responsibilities, accountability, and the transparency of employees, and executives are an important part of decision making and banking work responsibilities. This includes the approach to risk management and decision-based processes as well as being guided by the approach of the bank (cultural foundations) that are a function of its historical development. The varied historical paths that led to the development of culture in banks represented the investigation of a broad range of sources. These consisted of diverse inputs, historical developments and operational credo of financial institutions concerning the inputs contributing to the creation of a culture that influences decision-making, the approach to risk management, loan analysis, and other areas. In order to approach the subject posed by this exploration, the study used a historical investigation that also consisted of delving into the rules, regulations, and policies of the financial services industry that consisted of a number of materials. A key source in terms of policies was provided by Latham and Watkins (2018) who looked into the nuances of the FCA Senior Managers and Certification Regime. This was an important source as it distinctly referred to the UK’s Financial Services and Markets Act of 2000 that created the country’s Financial Services Authority, which is also known as the FSA which was brought forth in an article by Walker et al (2014). These two sources have been mentioned first because they delved into the significance of culture as key senior management responsibility for the banking sector. This view is supported by Bailey (2016) in a Guardian newspaper article titled ‘The FCA is making senior management responsible for the culture in their firms’. Other key sources in the conduct of this study represented the FSA’s (2010) Supervisory Enhancement Programme that was borne out of the cultural internal operational failures of Banco Santander / Abbey, Barclays, RBS and ABN Amro, along with Northern Rock (FSA, 2008). Whilst each of these bank case study examples differed, the key underpinning in all instances was that there was a lack of internal reporting, urgency, transparency and internal risk management oversight. The Approved person Regime (HM Treasury, 2012) was another key source explored in this review. It represented an agency approach to shore up weaknesses in bank senior management supervision through a process that entails government vetting of bank officials that was installed as a result of the varied lack of internal cultural climates revealed in the studies of Banco Santander / Abbey, Barclays, RBS and ABN Amro, and Northern Rock (FSA, 2008). It included what is termed as the ‘fit and [roper test’ the FSA uses to assess the suitability of an individual to assume an important senior management position (HM Treasury, 2012). The methods that were deployed in this review used the research objectives that entailed how the FCA’s Senior Managers and Certification Regime was developed, and how it has aided in removing the shortcomings of the UK’s Corporate Governance, as well as inherent weaknesses found under Basel II where responsibilities, accountability, ethics, and transparency were not spelled out. The research questions were designed to look into if the FCA’s Senior Managers and Certification Regime has had an effect in influencing banking corporate culture, along with the role on-executive directors have in the promotion of bank culture and if insight can be gleaned from internal data analysis regarding bank culture.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(UK Corporate Culture in the Banking Sector Dissertation, n.d.)
UK Corporate Culture in the Banking Sector Dissertation. Retrieved from
(UK Corporate Culture in the Banking Sector Dissertation)
UK Corporate Culture in the Banking Sector Dissertation.
“UK Corporate Culture in the Banking Sector Dissertation”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF UK Corporate Culture in the Banking Sector

Effect of Credit Crunch on Banking Sector in the UK

...?Effect of Credit Crunch on Banking Sector in the UK It is a recognised fact that finance is the backbone of any economy and banking sector is the indispensible part of the financial segment of the economy. Similar to the other parts of the world, UK banking sector was also badly affected by the recent credit crunch that erupted in the mid 2007. This report has assessed the impacts of the credit crunch of the UK banking sector. Moreover, the reasons for such occurrences have also been determined. The most interesting fact of this report is that it will focus upon the sector that has been the origin of the credit crunch. At the initial stage of the report the readers would be introduced with the objectives and the contents. Completion...
19 Pages(4750 words)Dissertation

Investigation in Cybercrime (Banking Sector)

The types of crimes committed involve money laundering, accounts hacking, credit cards passwords retrieval, figures fudging ,all these crimes are quite common in modern day and for this purpose various entities have been formed that are specialized in looking after crimes performed over the internet and use of electronic equipments in banking sector . A survey conducted by C.E.R.T stated that only in the year 2003, a total of 666 million US Dollars were fudged by cyber crimes in the field of business [1].These are either as a result of an insider, or intruders that use the tactic of phishing and impersonating as the real owner of account .The banking sector in broader spectrum consists of private and public sector, corporate ente...
8 Pages(2000 words)Literature review

Financial Crisis in the UK Banking Sector

...? Financial Crisis in the UK Banking Sector Financial Crisis in the UK Banking Sector Introduction Globalization trends have had significant effects on the functioning of the entire society. These are characterized by the free flow as well as movement of goods, information and populations. They have made the society to be increasingly integrated into a single community. The sharing of information and products has greatly affected the standards of living of individuals. Populations that did not have access to quality products previously have had a chance to benefit from the same through the free flows of products across the globe. Likewise, those that did not have access to important natural resources have been able to access the resource...
17 Pages(4250 words)Essay

UAE Banking Sector

... Table of contents UAE Banking Sector………………………………………………… page 2 Introduction:……………………………………………………………. page 2 Importance of Banking Sector in UAE……………………………………….. page 2 Concentration of Banks in UAE………………………………………………… page 2 Importance of real estate in UAE………………………………………………. Page 3 Find the ratio of household debt/household disposable income in UAE…. Page 3 Find the ratio of Housing Loans/ Housing Debt in UAE…………………….. page 4 What are the components of housing loans in UAE…………………………… page 4 What are the consequences of not paying the housing loans?...................... page 5 Analysis and Valuation……………………………………………………. Page 6 Current banking policy regarding real estate exposure in UAE …………... page 6 Stress testing...
8 Pages(2000 words)Assignment

Mergers and Acquisitions in the UK Banking Sector

...Performance Analysis of M&A in UK banking sector Table of Contents Introduction 2. Types of M & A 3. Motives for M &A 3.1 Motives for M & A in BankingSector 4. Measurement of M&A success in bankingsector 5. Determinants of M & A Success in Banking Merger 5.1 Financing- Cash and Stock 5.2 Asset Size of the Acquirer 5.3 Profit and Activity Focus 6. Conclusion 7. References 1. Introduction Mergers and Acquisitions, which are abridged as M&A, are associated with the aspect of corporate strategy, corporate finance as well as management that take up with the buying, selling and unifying of different companies which can help...
9 Pages(2250 words)Research Paper

The United Kingdom Banking Sector

... were no exception. In 2008, the British government was forced to play a major role in the British banking system to save the economy. All the banks had collected toxic debts and needed cash for survival. However, their scope and potential to raise cash grew weaker by the day just as the need for cash grew stronger (Clark, 2009). 2. Rational for research The UK economy did not grow at all in the second quarter of 2008. In a bid to partially nationalize the banks, the UK government had to use up £500bn of tax payers’ money (Guardian, 2008). This became necessary to restore confidence in the sector and to provide the needed fresh capital. The government wanted to reassure the market that banks such as the Royal Bank of Scotland would...
8 Pages(2000 words)Research Proposal

UK Retail Banking Sector

...UK Retail Banking Sector To analyze the retail sector in a service industry, we will look at the retail sector of the banking industry in UK. Bankingindustry in UK Retail banking sector is an important segment of the UK’s economy. The main retail banks together provide over 125m accounts in UK (economicshelp 2008). The banks provide banking services to 95% of UK’s population (economicshelp 2008). Thus, the retail banking sector has a huge market in the British economy. This can be seen from the fact that “banks and financial services sector together provide 25% of the total corporation tax to the British government” (economicshelp 2008). The sector contributes 6.8% of the total output of the GDP. However, the banking industry...
14 Pages(3500 words)Essay

UK Banking Sector Reforms

...A CRITICAL EVALUATION OF THE REFORMS THAT HAVE TAKEN PLACE IN THE UK BANKING SECTOR OVER THE LAST NUMBER OF YEARS Introduction The banking sector falls under the financial institutions division. The sector provides a range of vital services. These services include intermediation between borrowers and savers, payment services, and financial advice to both potential and current investors Michael Collins, Money and Banking in the UK (Routledge 2012). The services provided by the banking sector are supportive in the allocation of capital and production of goods. Each of these services is essential to the well functioning of the economy. These financial services are timeless. However, the system providing them is characterised by a continuous...
23 Pages(5750 words)Dissertation

Knowledge Management in the Banking Sector of the UK

...Knowledge management in the banking sector of U.K. – an application of qualitative research method Introduction Financial institutions form a crucial pillar of any economy. Over all economic performance of a country to a large extent depends on the performance of its financial sectors. Hence, financial institutions need to operate quite efficiently in order to ensure high level of performance by the financial sector of a country. In the financial sector of any economy the banking industry is the most crucial financial institution. The banking industry of U.K. is a well performing sector of the U.K. economy. It heavily relies on knowledge workers in order to ensure efficient delivery of its services it its clients. Although...
9 Pages(2250 words)Case Study

Corporate Social Responsibility in the German Banking Sector

My own definition is that CSR is about how companies manage the business processes to produce an overall positive impact on society”. This paradigm shift in the fundamentals envisages ‘ethics’ in a corporate culture which encompasses not only the stakeholders’ interest but also, integrity and transparency in operations. Also, the responsibilities of the modern company as a ‘corporate citizen’ are not necessarily restricted only to the business operations. The companies which rise to the occasion as warranted in emergencies and exigencies voluntarily, command great respect and honor among the customers and societies. A successful company integrates the economic factors such as GDP, interest...
13 Pages(3250 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Dissertation on topic UK Corporate Culture in the Banking Sector for FREE!

Contact Us