Values and Culture Matter

Values and Culture Matter

Process Without the Right Culture will Fail

Headlining at Trustee Exchange,  Peter Moore the only UK banking employee to speak out publicly about irregularities he witnessed from inside of a bank,  stressed that the crisis at HBOS was caused because there was a completely inadequate separation of powers and balance of powers between the executive and all those accountable for overseeing their actions.  He warned that an organisation can have the best processes in the world, but if there is unethical behaviour and an indisposition to challenge, they will fail.

Key governance lessons learned are the need for:

  • A sound culture
  • Capability of control functions (audit, compliance, internal audit)
  • Corroboration in oversight work
  • Company laws to be brought up to date

Good governance is about sound compliance and structures, clear and consistent policies, processes and procedures and a healthy culture supported by appropriate behaviours.  Often governance reviews look at fiduciary matters, at systems and do not seem  to acknowledge that culture, values and behaviours underpin strong governance.

Without appropriate behaviour or conduct, governance will fail irrespective of structures that are fit for purpose or clear processes.


“Climb mountains not so the world can see you, but so you can see the world ” Unknown


2 thoughts on “Values and Culture Matter

  1. Great post Tesse – Peter’s speech was a very sobering reflection on how power and wealth can corrupt individuals. For me it highlighted how leaders of organisations (Chairs, trustees and Senior Management) must have the utmost integrity and demonstrate the values of the organisation in their daily life. The more I see of governance in all sectors, the more convinced I am that values have to be the most important driver in an organisation

  2. Thanks Beryl – transparency, trust, confidence and ethics are essential threads of the next generation of governance. It would be great to hear about your reflections.

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