AFB Practice Roundtable: Measuring Psychological Safety in Financial Services Firms

AFB, in partnership with BACB and Brands with Values, are hosting an in-person practice roundtable on how to measure psychological safety in financial services firms.

Psychological safety is crucial in financial services, where decision-making often involves high stakes, complex regulations, and significant risks. In this sector, employees need to feel confident in raising concerns, reporting errors, or challenging practices without fear of retribution. A culture of psychological safety encourages open communication, which helps identify potential issues before they escalate, promotes compliance with regulations, and improves risk management. Moreover, fostering a psychologically safe environment enhances employee engagement, innovation, and collaboration, all of which are vital in maintaining trust and ensuring the long-term stability of financial institutions.

Today, many organisations actively promote and foster a ‘speak-up’ or ‘psychologically safe’ culture, where employees feel empowered to raise concerns, offer constructive feedback, and be heard without fear of repercussions. For this culture to thrive, it’s essential that organisations are prepared and equipped to respond appropriately to employee feedback.

Accurately measuring psychological safety within an organisation, and benchmarking it against industry and national standards, is a challenge many face. However, the team at BACB, in collaboration with Brands with Values, has successfully achieved this and is eager to share their insights with the broader community.

Why attend?

Members will have the opportunity to discuss the significance of psychological safety and a strong risk culture within their organizations, particularly those operating as overseas-headquartered banks. The session will explore effective ways to measure and enhance the ‘speak-up’ culture. Facilitated by the teams at BACB and Brands with Values, the discussion will highlight a new measurement approach that can help foster a healthier workplace, strengthen compliance and governance, and mitigate risks associated with poor psychological safety.

AFB will circulate an agenda and a series of questions to those registered to attend in advance which will be used to aid the discussion.

There will be refreshments and networking from 8:30, before the discussion starts at 9:00.

Note that capacity for the roundtable will be limited to 18 members, one person per member bank, so please book early to avoid disappointment.

Who should attend?

This in-person seminar is aimed at the People, Compliance and Risk functions within AFB members.

What will members gain for use at their bank?

The roundtable will provide a platform to exchange insights, share experiences, and discuss strategies for promoting and measuring effective psychological safety and fostering a speak up culture across financial services firms.

Facilitators

Adrian Walcott – Director, Brands with Values

Martin Roach – Founder, Design and Innovation Director, Brands with Values

Jane Perkin – Chief People Officer, BACB

Brands with Values is the go-to culture assessment tool for organisations managing change and challenge.  The Brands with Values Culture Decoder specialises in helping organisations understand and track the fundamental of their culture so they can drive real change.  The Culture Decoder is a 6 min 3 question scientifically led values-based assessment tool tried & tested by the FTSE 350.

BACB is an international wholesale bank with over 50 years’ experience providing international trade solutions to clients who want to trade in and out of developing markets. Based in London, BACB leverages its position in the world’s leading financial market to forge close links with the global banking community. The Bank specialises in supporting trade flows to and from the Middle East and Africa, connecting them with the rest of the world.

Logistics

Cost:        Included in AFB membership (no fee)

Location:  BACB, 8-10 Mansion House Place, London, EC4N 8BJ

Date:        Wednesday 23 October 2024

Time:        8:30 – 10:30 (Arrivals and networking breakfast 8:30 – 9:00)

If you would like to submit a question before or have any specific questions or areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk as soon as practicable. You will receive details on how to join the session a week before the event.