For some time, banks and financial institutions across the world have been facing financial and reputational difficulties. The cultural foundation and failure in maintaining an effective risk culture is considered a major driver for the failure of banks. As witnessed from the Banking Royal Commission this has culminated in reputational damage, regulatory fines, and penalties. Moreover, a major impact on unhealthy cultural norms has led to a loss of public trust.
As leaders in the industry, it is up to us to ensure the strength of the financial system through good culture and strong risk governance practices across the three lines of defense.
In this two-part series, partnered with Starling Trust, we will be discussing how to drive good culture and conduct, improve firm performance, and customer outcomes and what role RegTech capability plays in this.
Mark Cooke, former Global Head of Operational Risk at HSBC and former Chairman of the Operational Risk Exchange (O.R.X.)
Mark Cooke joined HSBC in 2014 as Group Head of Operational
Risk. In that role, Mark led a team of risk officers across the firm’s global footprint, overseeing non-financial risks such as compliance breaches and staff misconduct, before taking a sabbatical in 2020. Earlier, Mark held senior leadership roles at Barclays and UBS in risk, finance and operations. Today he is Chairman of ORX, the financial services industry association for Operational Risk Management.
Cooke joins other distinguished members on Starling’s Risk & Governance Advisory Board.
The company recently announced the appointment of Gary Cohn, former Director of the U.S. National Economic Council and past-President & COO of Goldman Sachs, and Siew Kai Choy, former MD at GIC, Singapore’s sovereign wealth fund, where he was Director of the Enterprise Data & Analytics Department and founder of GIC Innovation Labs.
James H Freis Jr, CEO, Wirecard, past MD, CCO, ML Officer, Deutsche Börse
Jim was the longest serving Director (2007-12) of the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), the lead U.S. Government official for AML/CFT requirements. He served concurrently as head of the U.S. Financial Intelligence Unit (FIU). In June 2020, within a day of joining the Management Board of German FinTech darling, Wirecard, Jim exposed and reported on a massive fraud that later led to the collapse of the once high-flying global digital payments provider. From 2014-20, Jim was Managing Director, Chief Compliance Officer, and Group AntiMoney Laundering Officer for the Deutsche Börse Group in Frankfurt, where he oversaw global regulatory requirements for Europe’s leading provider of systemically significant financial market infrastructures.
Les Matheson F FIN, Group Chief Operating Officer, NAB
Les was appointed Group Chief Operating Officer at the National Australia Bank in January 2021.
He previously held a number of executive roles with the Royal Bank of Scotland, most recently as CEO Personal and Business Banking (2014 to 2020). In 2015, he was given responsibility for Ulster Bank in Ireland. Les joined RBS in 2010 as Managing Director for Retail Products and added
Marketing a year later.
Prior to this, Les spent most of his banking career at Citibank, where his roles included Division Executive Central Asia, Retail CEO and Country Head for Australia and Head of Private Client Business and Marketing for the Asia Pacific Region. He was a member of the Citigroup Global Management
Les started his career with Proctor & Gamble in brand management in the UK. He has lived and worked in Switzerland, Belgium, Argentina, Taiwan, Singapore, Japan, the UK and Australia.
Les has served on a number of Board and advisory committees. Former roles include Deputy Chairman of the Australian Bankers’ Association, Deputy Chairman of the Financial Conduct Authority Practitioner Panel (UK), a director of Visa Europe and a past member of the Edinburgh
University Court. He has a Bachelor of Commerce (Hons) from Edinburgh University. He is a Certified Bank Director (the Institute of Bankers UK) and a Fellow of the Chartered Banker Institute (UK).
Chris Whitehead F FIN Chartered Banker, CEO & MD, FINSIA
Chris was appointed FINSIA CEO in September 2016. He has been associated with the Australasian financial services industry for nearly 30 years. Previously, he was CEO of CUA, Australia's largest customer-owned financial institution, Regional Director, Bank of Scotland and CEO, BankWest Retail Bank.
He has extensive experience as a non-executive director including in the payments, wealth management and insurance sectors.
Commencing his career in IT, Chris maintains a keen interest in the ongoing impact of technology on financial services.
Stephen Scott, Founder & CEO, Starling Trust
Stephen Scott “I’ve seen the consequences of the trust crisis up close throughout my career. In every case, remedial efforts to restore trust have felt like doing too little, too late. And those who can afford it least always seem to wind up suffering the most. It’s time to shift our focus from risk mitigation to trust optimization.”
A recognized expert in due diligence and risk management, Stephen has worked throughout the Americas, Asia, and Europe where he has helped leaders in business and government, to create, protect, and restore value and organizational integrity.
Participants may be able to apply 1 hour towards meeting their annual continuing professional development obligations. It is the individual's obligation to determine relevance of CPD to their license conditions.
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