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charteredbanker.com Spring 2021 1 Chartered Spring 2021 Banker The future of banking Open mic: Davidson column: Country spotlight: Young Banker What pandemic-related How the industry A profile of the Year: changes do you hope is supporting a of Pakistan’s Past judges share to retain? brighter future. banking sector. their perspectives. Strong foundations Pandemic puts banks’ resilience to the test Redefining ‘resilience’ Stress tests People power A new framework What it means Learning from The well-being Regulation after today. COVID-19. agenda. Brexit. 2 Charteredartrdankro Banker The future of banking intr 2 55 The Advanced Diploma in Banking and The AdvancedLeadership Diploma in a Digital in Banking Age and Leadership in a Digital Age Launching October 2018 Launching October 2018 • The Advanced Diploma in Banking and Leadership in a Digital Age is the Institute’s • Thegold-standard Advanced qualificationDiploma in Banking and Leadership in a Digital Age is the Institute’s • The Advanced Diploma in Banking and Leadership in a Digital Age is the Institute’s • gold-standardGlobally recognised qualification in setting the standard for those who seek to achieve the highest gold-standard qualification • Globallylevel of excellence recognised and in settingprofessionalism the standard in banking for those who seek to achieve the highest • Globally recognised in setting the standard for those who seek to achieve the highest • levelDeveloped of excellence by industry and expertsprofessionalism and students, in banking it blends core banking skills with a level of excellence and professionalism in banking • Developedtechnological by edge,industry suitable experts to enhanceand students, current it blends and future core banking roles.skills with a • Developed by industry experts and students, it blends core banking skills with a technological edge, suitable to enhance current and future banking roles. technological edge, suitable to enhance current and future banking roles. This revised Diploma: This revised Diploma: This• Can revisedbe completed Diploma: in 18 months to support • Each unit is assessed by knowledge checks to • Canapprenticeship be completed and in graduate 18 months programmes to support • Eachdemonstrate unit is assessed application by knowledge of learning checksat work to • Can be completed in 18 months to support • Each unit is assessed by knowledge checks to • apprenticeshipBlended learning and approach graduate with programmes core reading, online • demonstrateEnsures that individualsapplication can of learning meet current at work apprenticeship and graduate programmes demonstrate application of learning at work • Blendedresources, learning and an approach interactive, with online core Study reading, Guide online to • Ensuresand emerging that individuals regulatory can requirements meet current for the • Blended learning approach with core reading, online • Ensures that individuals can meet current resources,support learning and an interactive, online Study Guide to anddemonstration emerging regulatory of high professional requirements standards. for the resources, and an interactive, online Study Guide to and emerging regulatory requirements for the • supportIncludes learningsubstantial coverage of technology, leadership demonstration of high professional standards. support learning demonstration of high professional standards. • Includesand change, substantial in addition coverage to core of banking technology, knowledge leadership • Includes substantial coverage of technology, leadership and change, in addition to core banking knowledge and change, in addition to core banking knowledge www.charteredbanker.comFor further information please visit: www.charteredbanker.com Alternatively please contact the Institute’s Membership Engagement Team via: [email protected] please contact the Institute’s orMembership +44 (0) 131 Engagement 473 7777. Team via: Alternatively please contact the Institute’s Membership Engagement Team via: [email protected] or +44 (0) 131 473 7777. [email protected] or +44 (0) 131 473 7777. EF5290 CB Magazine Winter 2019 S21.indd 55 06/03/2019 12:47 charteredbanker.com Spring 2021 3 Chartered Banker Institute Drumsheugh House 38b Drumsheugh Gardens Edinburgh EH3 7SW tel: 0131 473 7777 fax: 0131 473 7788 www.charteredbanker.com [email protected] Chartered Banker Institute The future of banking (London Office) 2nd Floor, Bengal Wing 9a Devonshire Square London EC2M 4YN tel: 020 7464 4440 Chartered Banker magazine is published four times per year The front line in Spring, Summer, Autumn and Winter on behalf of the Chartered Banker Institute. The coronavirus pandemic has Subscriptions shone a spotlight on resilience, Chartered Banker is sent free to Institute members. For Simon Thompson, Chief Executive non-member subscriptions, in its multiple forms. contact the Institute on 0131 473 7777. hile the vaccine roll-out is bringing hope to many Institute members and Editor in Chief their families, at least in the UK, we have all been greatly tested by the Simon Thompson W pandemic over the past 12 months. Adapting to new risks and ways of Deputy Editor in Chief working, helping vulnerable customers and colleagues, and supporting Martin Fishman our families and loved ones during uncertain, worrying times, has placed great strains Publishers on our personal resilience. I’m pleased to hear Editions Financial from the generous feedback we’ve received that www.editionsfinancial.com the Institute has been able to provide some support through ‘Lockdown Learning’ and our other resources. But I am also very aware that for “ While the many in banking, as in other walks of life, the past year has been extremely hard. vaccine roll-out COVID-19 has tested the mettle of financial is bringing hope institutions and the sector overall. In this issue of Chartered Banker, therefore, it seems appropriate to many Institute to explore the wider context of resilience. This encompasses operational resilience, adapting members and to the ‘new normal’ for ourselves and our customers. Workforce resilience, as banks and their families, other employers prepare for a return to the office that won’t look or feel anything like it we have all been did before. Cyber resilience, as we asked in our winter issue, how can the industry continue to greatly tested protect institutions and customers from new and increasingly challenging threats? Climate by the pandemic resilience, how prepared are we in banking, and in business and society more broadly, to respond over the past to the physical and transition risks of climate change? And, finally, how resilient are our 12 months.” banks and the financial system to the economic challenges ahead? The past year has been challenging for banks and bankers, but also for professional and educational bodies such as the Institute. Our Trustees, committee members, academic associates, volunteers, partners and, last but not least, our staff, have also been tested by similar personal and professional, operational and practical challenges. I’m pleased to report that we have come through these trials in good shape financially, operationally and especially in terms of our growing impact and influence both in Mission Hall the UK and internationally. Please let me record my very sincere thanks, therefore, to 1 Roxburgh Place all who have played a part in ensuring the Chartered Banker Institute Edinburgh EH8 9SU remains resilient, proud and focused on supporting its members, and the banking tel: 0131 476 2502 fax: 0131 476 2672 profession more widely. CB 10 Little Portland Street London W1W 7JG tel: 0203 911 7530 www.editionsfinancial.com 4 Chartered Banker The future of banking Contents Regulars The front line Davidson Lessons Learned 03 SIMON THOMPSON 27 A message from UK on recovery and Finance CEO, DAVID Climate change is money resilience. POSTINGS. in the bank, says IAN HENDERSON. People & Bangor Business 06 numbers 50 School 62 Latest news and moves in Would rejoining the EU the UK banking industry. benefit banks? Institute Personal 1 0 agenda 59 development What’s happening at the BOB SOUSTER on the ethics Chartered Banker Institute? of gaming the system. Special report Strong foundations The COVID conclusion 14 What can we learn? Stress tests 17 Regulators and resilience. People power 20 Building strength in our teams. charteredbanker.com Spring 2021 5 “ We have a real opportunity to make that The cultural shift that weʼve all been trying to professionals achieve over the past 10 years.” p45 in this issue Chris Leslie, Chief Open mic Executive, Credit Services Trust in Association, was previously transformation Pandemic-related a Member of Parliament 23 45 changes readers hope and Minister in the last Labour Banks’ opportunity to rebuild to retain. government. p14 consumer confidence. Andrew Rogan is Director, A new framework Institute Advocates Operational Resilience, UK Finance. He works with Expert views on Trustee SUE PRIMMER 28 48 industry to help build a post-Brexit regulation. on why financial well-being matters. sector that is better able to prevent, prepare for and recover from operational disruptions. p14 Professional Matthew Conway is 52 Financial Advice Director, Strategy & Policy, UK Finance. A former civil How can advisers ease the compliance burden? servant and regulator, he is responsible for setting the strategic PATHWAY TO COP26 agenda for UK Finance and leads on Banking in key public policy issues. p28 54 a digital age Joseph Healy