Management Information for conduct and business advantage

Recent FSA final notices and thematic reviews habitually highlight the role that poor Management Information (MI) has played in regulatory failures at financial services firms. Excessive and insufficiently relevant MI can seriously hamper management's ability to understand and act upon conduct risks. Angus Goldie and Andrew Nanson suggest some questions that executives should be asking of their approach.

Angus Goldie (angus.goldie@kpmg.co.uk) is a director in KPMG's regulatory consulting practice. Angus has been advising financial services firms for the last 12 years, and specialises in conduct risk measurement and management in the banking sector. Andrew Nanson (andrew.nanson@kpmg.co.uk) is a senior manager in KPMG's regulatory risk practice, focusing on advising financial services clients on regulatory conduct risk issues.

Delivering the right customer outcomes is a business imperative that must permeate a firm's DNA - from senior management and back-office functions to customer-facing staff - being embedded throughout an organisation's culture.