Organizations, particularly in the banking and financial sector, need to revisit and challenge practices that have been developed over the years if they are to increase trust and improve the functioning of human and technical systems.
This is a necessary process to reduce bureaucracy, allow faster responses to emerging issues, and drive continuous improvement in system design. It is also a necessary process to rebuild the trust of the community and customers, who place banks and financial institutions at the negative end of the organizational values and behaviors.
This point of view, by David Murray, is about a back-to-basics approach to systems design, internal controls to assure quality and asset protection, and leadership to make the work more engaging and productive. Boards will need to anchor their work with a set of beliefs to be effective in dealing with their ongoing reputational challenges.
