The FCA and PRA have introduced a new personal accountability regime for senior managers in the form of the Senior Managers and Certification Regime. Since the financial crisis, increasing emphasis has been placed on how effective leadership contributes not only to functioning markets but also the fair treatment of customers.
Our research has identified key differentiating behaviours, thinking and drivers of successful leaders and we have taken our findings to launch a new programme with Ashridge Executive Education for senior managers of regulated companies.
What are leaders saying?
We spoke to leaders of regulated firms asking how they felt about being a leader in this changing environment. Here’s what they said:
“Sometimes it can be personally terrifying.”
What differentiates a successful leader?
Our research identified 3 key areas which differentiate successful leaders in the regulated environment:
- Personal – Leaders are personally accountable for the conduct of their business which requires specific personality traits to cope professionally and efficiently.
- Relational – The ability to balance customer and business interests is key.
- Organisational – A strong understanding of governance and control balanced with empowerment and innovation is critical to success as a leader.
Our regulated leader programme
In partnership with Ashridge Executive Education, we are launching an innovative new programme aimed at current leaders of regulated businesses who will soon be in Director, MD, CEO or Non-Executive Director roles.
By understanding which qualities result in successful leadership, this programme will help educate and prepare these leaders for their future roles.
How does it work?
Using a blend of face-to-face and virtual modules, the programme focuses on building the skills and mind-sets needed leaders in a regulated environment:
- Best practice
- Understanding of the regulator’s requirements
- Learning from current leaders using practical case studies
- Stretching experiential exercises to prepare for the challenges of leadership