Professional Together, a company dedicated to helping people make better life decisions inside and outside work protecting the reputation of their employers in the process, has launched a new offering specifically designed for senior executives working in the financial services sector.
The move was prompted by two factors: a tenfold increase in the fines handed out to individuals by the Financial Conduct Authority’s (FCA) for misconduct which, according to findings from law firm Clyde & Co, rose from £22.2m in 2016 to £229.4m in 2017; and the regulator’s plans to further crack down on behaviour in the finance sector.
Last year, the regulator announced plans to extend its reach to any firm that offers credit to customers, which is estimated to mean an additional 47,000 firms. It said its aim is to create a culture where individuals have personal responsibility for their actions, and a clear understanding of where responsibility lies within a firm.
It means that a lot more directors and senior managers will come into the sights of the FCA. The programme constructed by Professional Together is designed to help executives working in the financial services sector avoid or better deal with situations that could harm their reputation, career prospects and, by default, that of their firms.
Its sessions cover a range of threats to the reputation of those individuals and companies ranging from gambling to sexual consent to problems around substance misuse to the responsible use of social media.
Professional Together, formed by two senior retired police officers with 60 years’ experience between them, is dedicated to helping people make better life decisions by teaching them how to avoid or deal with threats or vulnerabilities that could have a negative impact on their career and lives.
Phil Davies is a former chief superintendent who served with the Metropolitan Police and South Wales Police for 30 years; Tim Jones is the former head of the professional standards department of South Wales Police.
Davies said: “We have launched this new training programme specifically because we believe there is demand in this sector. As a business, we originally started working with professional athletes but many businesses are now realising just how valuable what we offer can be.
“The financial services sector has very high standards and there is no room to make mistakes that could have huge ramifications career wise. This course aims to give individuals the tools to be more aware of the implications of their actions, the risks involved and make better decisions as a result.”
Jones added: “During our long careers in the force, we saw so many examples of individuals suffering from a momentary lack of judgement that ends up having far reaching consequences within their lives. Sometimes individuals also fall foul of simply not understand the law – what is legal and what is not. The training courses we provide inform and arm individuals with what they need to avoid or deal with threats or vulnerabilities that could have a negative impact on their career and lives.”