Senior Executive Accountability Regime

Thank you for joining us for a breakfast briefing on this topic on Tuesday 22 January 2019.

In recent times, regulatory authorities across the globe have been working on measures to strengthen individual accountability of senior individuals within the financial services industry, in an effort to improve culture and drive the right behaviours. In 2018, the Central Bank of Ireland indicated its reforms in this area and proposed Individual Accountability Framework, which includes a Senior Executive Accountability Regime similar to the UK Senior Managers Regime.

Although the exact detail and nature of how the Individual Accountability Framework will be implemented has not yet been determined, it is clear that the measures to strengthen individual accountability will come into law. In that context, it is important for governance professionals in the financial services sector to start thinking now about how such a framework might be implemented in practice and to understand the impact on their current governance arrangements.

Kindly sponsored and hosted by Deloitte, this CPD briefing examined:
• Overview of the reforms and Individual Accountability Framework;
• What we expect the Senior Executive Accountability Regime to cover;
• Key challenges and practical considerations; and
• Lessons learnt from the UK and other jurisdictions.

The session was led by Melissa Scully, Senior Manager, Deloitte Ireland Centre for Corporate Governance and James Beasley, Director Financial Services Governance, Deloitte UK.

Speaker Bios: 

Melissa Scully co-leads the Deloitte Ireland Centre for Corporate Governance. She specialises in corporate governance across all industries, and brings insight into the challenges facing Boards, Directors and Company Secretaries. Her clients include large corporates, financial services institutions and public sector organisations. She has delivered over 100 Board governance and Board effectiveness engagements across Ireland and Europe to include: conducting independent Board effectiveness reviews, providing advisory support for companies going through IPO, developing governance policy frameworks and designing governance structures and processes.

James Beasley is a Director in Deloitte UK’s Financial Services Risk Advisory Practice. He is a Financial Services Governance specialist with 10 years relevant experience in the industry with a focus on banking and capital markets. He has particular expertise in the field of strategic governance change and structural reform. James holds an MSc in Global Governance and Ethics from University College London (UCL), having focused his research on the concept of regulatory capture in relation to Financial Services institutions in the UK. He also majored in global business regulation and international political economy.

View the presentation slides here: