CALITOR OFFERS A FRESH APPROACH TO REGULATORY RISK MANAGEMENT:
DRIVING INNOVATION IN CONDUCT AND CULTURE MANAGEMENT TO CREATE VALUE
Delivering outcome-focussed, integrated strategic Conduct Risk and Cultural enhancement solutions by combining forward thinking regulatory expertise, cutting edge behavioural science and technology
Coaching, academies and competency frameworks
Coaching senior managers and providing targeted development to key staff in line with UK FCA Senior Management Regime, Conduct and Culture agendas.
Bespoke firm-wide solutions to change behaviour, enhance culture and maximise in-house resources.
Re-position Compliance to build competitive advantage
Reshaping, refocussing and up-skilling Regulatory Compliance functions and operations to address changing regulatory standards and meet emerging market pressures.
Innovative Compliance framework design and implementation of FinTech solutions.
Integrate Conduct mindset with strategy for sustainable value
Shaping risk strategy in line with changing Regulatory expectations and corporate goals; reshaping operating models to align risk imperatives with key objectives.
Connecting effective Conduct Risk management and culture with sustainable financial value
Strategic, sustainable value creation through innovation in Conduct Risk management and Cultural enhancement, based on industry-leading regulatory expertise allied with cutting edge behavioural and management models
Shaping strategy in line with changing Regulatory relationships and the political environment, to underpin Board and Senior Management responsibilities to shareholders, customers and staff;
Driving behavioural change to embed compliance culture and accountability from teh Board to the Front Office in line with UK FCA Senior Management and Certification Regime
Strengthening Risk functions and operations to address changing regulatory standards and disruption from innovation, fully aligned with corporate values and business objectives
Rebuilding Trust in Banking
CLIENT AND COLLABORATION ACTIVITIES
Calitor works with clients or partners to deliver integrated, sustainable change, based on core Conduct and Culture principles, aligned with regulatory intent, with minimal business model disruption to crystallise financial value via improved productivity and effective risk management and long-term decision making, with an almost ruthless focus on outcomes
2017 (ongoing) Consulting and Coaching
Designing and implementing a Conduct and Culture Enhancement programme across all activities.
Building Conduct Risk Framework and implementing key elements: Conduct Risk Self Assessment, Conduct MI, Cultural assessments, reinforcing SMCR framework and enhancing training and competency approach with behavioural competencies.
Coaching senior management, desk heads and risk functions to embed the outcome-centric and aligned to current FCA Conduct Risk and Culture agenda.
2016 (ongoing) FTC and FTC Innovate - Regulatory Expert
Calitor provides Regulatory and Compliance expertise for FinTech and WealthTech innovation accelerator, advising on regulatory issues likely to impact new products or systems and guidance on how to minimize risk of regulatory failure.
Driving innovation and thought leadership in regulatory risk strategy with RegTech and FinTech players Calitor's founder acts is a faculty member for FinTech Circle Institute.
2017 (ongoing) Conduct Academy
Design and delivery of Conduct Risk Implementation webinars, Embedding Conduct and Culture workshops, master classes and coaching modules in collaboration with UK Finance (formerly BBA) to equip firms to drive sustained behavioural change in line with the FCA's Conduct and Culture agenda to restore public trust in the financial services industry,
BARCLAYS BANK PLC
2015 Global Compliance Career Academy
A new forward-looking business case and operational model for the CCA, incorporating latest behavioural theory aligned with Conduct Risk principles, in partnership with Cambridge University Judge Business School
Redefined goals aligned with values, risk objectives and strategic goals.
Modelled investment case against wider cost pressures and regulatory imperatives; created innovative value model to link real financial returns from investment.
Designed new operating model with key stakeholders, success measures to bring commercial rigour to decision making.
Implement key recommendations, robust Governance function and reshape operating team to meet new objectives.
Bespoke competency framework to define enhanced Compliance behavioural and technical skills, enable assessment and build development curriculum, to enhance behavioural and technical skills.
RBS GROUP PLC
2014 Williams and Glyn relaunch as challenger bank
Developed and delivered plan for design, build and operation of Compliance function for new commercial and retail bank to be divested following EU anti-competition decision, with focus on a ethical culture.
Developed Target Operating Model and implementation plan for the new bank, including determining appropriate resource, structure and Compliance operating framework.
Wrote Compliance Plan, policies, procedures, monitoring, testing and control processes. Analysed and advised on regulatory requirements for Interest Rate Swap, and ForEx product offerings.
Built and managed team responsible for design and delivery of regulatory requirements for banking licence authorisation, compliance framework and supporting infrastructure.
BARCLAYS BANK PLC
2013 Global Corporate Banking Compliance
Rebuilt new Corporate Banking compliance function integrated with Corporate and Investment Banking (CIB) Compliance, aligned to new business strategy and tuned to existing and emerging regulatory risk.
Identified priorities to strengthen impact of compliance function and culture, risk understanding and approach of the CEO, Business and Functional heads from the top down.
Re-engineered Corporate Banking Compliance team to become an independent, respected function, aligned with Group and Investment Banking Compliance, leveraging shared central Compliance services.
Advised Corporate Banking CEO on developing and implementing new Conduct Risk framework
Redesigned and implemented core training programme to reflect Conduct regime and Bank Values to underpin change in culture.
2016 (ongoing) FinTrU Academy Regulation, Compliance and Behavioural
Developed intensive five-day Compliance programme incorporating case studies and participant presentation for all new staff in Investment Banking team to provide a thorough understanding of:
Regulatory framework, key focus of the regulators and role of Compliance: SMCR, Structural Reform;
Financial Crime, Conflicts of Interest, Conduct, Conduct Risk and Behavioural Economics;
Science of decision making, incentive and bias; tools to drive sustainably better conduct and culture
BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LTD
2009- 2012 Post merger build out of Global Banking Compliance EMEA
Built new Compliance function after Bank of America’s acquisition of Merrill Lynch, to address critical gaps in new combined platform in Corporate and Investment Banking, Capital Markets and Research.
Publications and events
NEWS, VIEWS AND FURTHER INFORMATION
THOMSON REUTERS REGTECH MASTERCLASS
The FINTECH Circle Institute in association with Thomson Reuters has announced a new series of FINTECH Master Classes.
The first is on Regulatory Technology (RegTECH) - 7 November 2017
Global Overview on the “Fintech Revolution” with focus on Regulatory Change
Innovation across Regulatory Technology, Compliance & Risk Management (#RegTECH)
Enterprise Innovation inspired by RegTECH Solutions
The Future of Regulation, Compliance & Risk Management
UK FINANCE WORKSHOP: EMBEDDING CONDUCT AND CULTURE
6 October 2017
Since the implementation of Twin peaks regulation in the UK, firms have spent over four years getting to grips with the concepts and challenges of Conduct Risk Framework that that satisfies the new standards expected by the FCA and society. The expansion of individual accountability through the widening of SMCR’s scope to include more than just bank underlines the determination of the FCA to reweight their supervisory focus of firms towards good conduct and longer term outcomes, away from the tick box or design-centric approach that some of the extensive Conduct Frameworks represent, with those under SMCR under a higher level of scrutiny when it comes to the company’s culture & ethics and improvements/changes made in these areas.
Our research has shown that despite the large sums spent on this, the impact on Conduct and thus a strengthening of Culture has been underwhelming even for the most committed firms, as the goal of influencing behaviour requires a whole new set of capabilities and tools. Moving forward, the regulatory drive behind Conduct and Conduct Risk will draw more strongly on behavioural psychology. The real challenge is for firms is embed fundamental changes in their practices and strategies to embed conduct and culture from the board down in a way that demonstrably changes behaviour for the better. This will be achieved by:
Changing internal mindsets
Recognising the hidden biases that exist
managing customers’ interests
UK Finance has teamed up with two leading proponents on the subject, who are connected with Conduct leaders in the industry, who leverage the latest thinking and the practical implementation methods to ensure the right outcomes and so enhance return on investment in this area, even to the point of offering competitive advantage to those who get it right. We are therefore exclusively hosting an event to help you understand the fundamentals of embedding an effective conduct programme, learn what MI is needed, recognise the key behavioural concepts the regulators rely on and outline strategies to measure and manage conduct and culture in ways that can help you maximise this value, leveraging the resources and assets already at your disposal.
ARTICLE: CAPACITY BUILDING IN REGTECH - A CONDUCT AND REGULATORY PERSPECTIVE
Mauritius International Financial Centre A Global Finance Mauritius Publication • September 2017 • Issue 6, p 43
Some different perspectives on the role of the regulator in curating innovation and the potential power of RegTech to drive value alongside FinTech.
WEBINAR: IMPLEMENTING CONDUCT RISK
UK Finance Webinar 21 June 2017
We know that the Regulatory thrust of Conduct Risk now has a strong behavioural or psychological element to it. Embedding Conduct Risk requires a change in mindset to recognise the biases that exist in everyone in order to manage them in the interests of customers and for the integrity of markets. This must be integral to all activities, rather than a separate “Compliance” responsibility.
In this one hour webinar, Dr. Roger Miles was joined by Patrick Butler, Conduct and Culture implementation expert and Victoria Wickens, a senior Conduct Risk practitioner, to discuss some of the challenges and ways forward, including a spotlight on how to demonstrate real value to the firm from getting it right.
The materials are attached
THE REGTECH CHALLENGE
First published 16 Dec 2016 by FinTECH Circle Innovate, this restates the Regulatory Risks inherent in FinTech innovation and discusses a new angle for innovation that challenges FinTech, RegTech disruptors and incumbent Financial Service institutions alike.
In the excitement at the potential benefits of FinTech and the parallel streamlining of Regulatory Technology (RegTech), the Innovation hub approach by the UK Regulator and its proposed Sandbox, are a welcome attempt to address the Regulatory Risks inherent in FinTech innovation and offer a first step in how to manage them.
However, this mere existence of a regulatory clean sheet for FinTech, RegTech and incumbent Financial Service institutions alike, suggests they pause for breath, think and then re-assess how they go about innovation. The need to apply consistent, outcome-based, medium to long-term thinking (Conduct Risk) that runs through all decision making, especially innovation processes is even more important now than ever, if firms are to ensure new products services and processes are sustainable and deliver the customer experiences that are intended. The risk is that in the rush, both old and new firms alike stumble, clients or customers suffer, as expectations change and unseen implications of new ideas come to bite.
The challenge is to apply integrated Regulatory Risk Management thinking in the innovation process, in a way that aligns with the UK FCA Conduct agenda, its equivalents in other major financial markets and the drive for sustainable cultural change in banking and finance as a whole. In this way, FinTech and RegTech will better enable the industry to rebuild trust and so support economic recovery.
Over 25 years’ experience in government, investment banking origination and execution, business management and Compliance leadership and transformation.
Successful track record for developing, implementing and running major transformation programmes across investment, corporate and retail bank regulatory risk functions;
Collaborative leadership approach, leveraging cutting-edge behavioural theory to enhance decision making and cultural mind-sets, to transform culture effectively and sustainably in line with regulatory expectations;
Proven ability to balance commercial imperatives with risk appetite to fit corporate culture in an increasingly challenging political and regulatory environment, with regulators, bankers and risk professionals;
Strong capabilities implementing innovative, sustainable solutions to complex issues; identifying synergies; working with diverse stakeholders to embed change;
Exceptional team catalyst, able to build, refocus and motivate teams to high performance by clarifying goals and targeted coaching base on "ruthless" prioritisation principles
FOUNDER AND MANAGING DIRECTOR, CALITOR LIMITED
October 2012 - present
MD, HEAD OF GLOBAL BANKING AND RESEARCH COMPLIANCE, EMEA
BANK OF AMERICA MERRILL LYNCH INTERNATIONAL INC
May 2009 – May 2012
DIRECTOR, BUSINESS SELECTION AND CONFLICTS, EMEA AND ASIA
BANK OF AMERICA INC
November 2006 - May 2009
BUSINESS MANAGER THEN HEAD OF GLOBAL STRATEGIC PROJECTS
HSBC GLOBAL INVESTMENT BANKING
April 2002 - November 2006
HSBC INVESTMENT BANKING PLC
January 2000 - March 2002
INSEAD BUSINESS SCHOOL, FONTAINEBLEAU
BRITISH FOREIGN & COMMONWEALTH OFFICE (FCO)
September 1991 - September 1998
If you have a challenge that is complex, difficult or fluid, call to talk through potential ways forward.
It can be surprising how an external perspective can break down an issue into more manageable elements, yet still benefit from internal synergies.
The solution can often be based on an innovative use of internal activity and resources, without the disruption of a complete rebuild.
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