Following the introduction of new regulation within the Financial Services sector, the business was implementing a new ring-fenced bank and wanted to use TCC Risk to get a deeper understanding of their front office teams as part of this transformation. As well assessing individuals against certain risk factors, the Senior Leadership Team wanted to measure the current culture and understand what changes were needed to start encouraging new ways of working.
Every employee in the organisation was asked to complete The Cambridge Code. The business was given a report evaluating Senior Managers against characteristics and risk factors that had been agreed as important for their specific roles in advance. The business also received an aggregate results dashboard, with an overall ‘people risk index’ along with insights into the key drivers of culture across – including a breakdown of how this varied across different parts of the organisation, such as by team, level, and office.
The results identified that certain pockets of the team were having a disproportionate impact on the overall culture and gave insight into the types of interventions needed to drive change. The people risk index also flagged a number of traits that were quite consistent and led to a new dashboard being created to monitor these over time.
The Senior Leadership Team also felt that the process had given the organisation a language and framework to talk about risk in a new way and had brought some of the more intangible aspects of the regulation to life.