Banking and Building Societies Update

Banking and Building Societies Update

Our Banking & Building Societies Update summarises the key regulatory developments and emerging business risks relevant for all banks, building societies and, where flagged, for alternative finance providers (i.e. peer-to peer lenders, card providers, E-money services providers and debt management companies).

Our FS Advisory Services team are working with more than 50 banks and building societies as internal auditors and advisors, giving us a broad perspective on the issues facing the sector. We have aggregated insights from our in-house research, client base, the Regulators and professional bodies, including the Chartered Institute of Internal Auditors (CIIA), to support your audit plans and activities.

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We hope this pack provides value to you and your colleagues; please do share with us any feedback you may have for future editions.

Please do not hesitate to contact myself if you have any concerns over any matter highlighted in this update. For more information about our internal audit and advisory services to the banking sector, visit our services page.

Previous editions 

March 2024

In this edition you will find:

  1. Non-Financial Misconduct
  2. Consumer Duty Update 
  3. ESG Update 
  4. Economic Crime Update


January & February

In this edition you will find:

  1. 2024 Global Internal Audit Standards
  2. 2024 Regulatory Priorities
  3. AI in Financial Services
  4. ESG Update
  5. Data Protection Update
  6. Tax Update - R&D
  7. Economic Crime Update
  8. Motor Finance Complaints

December

In this edition you will find: 

1. A retrospective on 2023 by a Head of Internal Audit 
2. Diversity & Inclusion Update 
3. Behaviours & Culture - Part 2
4. Prudential Update 
5. Data Protection Update 
6. Tax Risk Update 
7. Access to Cash 
8. Economic Crime Update 


November

In this edition you will find:

  1. Data Protection Update 
  2. Behaviours & Culture - Part 1
  3. Consumer Duty Update 
  4. Economic Crime Update

In this edition you will find:
  1. Internal Audit Benchmarking
  2. ESG Update
  3. Cyber Risk
  4. Economic Crime Update

In this edition you will find:
  1. Audit Planning for 2024
  2. Quality Matters - Part 5
  3. Operational Resilience 
  4. Prudential Risks
  5. ESG Update 
  6. Mortgage Charter 
  7. 2023 Regulatory Priorities 

July

In this edition you will find:

  1.  23 Regulatory priorities
  2. ESG update
  3. Quality Matters - Part 4
  4. Economic Crime Update

June

In this edition you will find:

  1. 2023 Regulatory priorities
  2. Transformation Risk
  3. ESG update
  4. Quality Matters - Part 3
  5. Model Governance
  6. D&I in Financial Services
  7. Economic Crime Update

 

May

In this edition you will find:

  1. 2023 Regulatory Priorities 
  2. FCA Discussion paper on sustainability change
  3. Risk Management
  4. Effective Resource Management
  5. Key Resourcing Trends for Internal Audit Teams in 2023
  6. Economic Crime Update

April

In this edition you will find:

  1. 2023 Regulatory Priorities
  2. ESG Update
  3. Quality matters - part 2
  4. Finding the right internal audit model
  5. Economic crime update

March

In this edition you will find:

  1. 2023 Regulatory Priorities 
  2. FCA Discussion paper on sustainability change
  3. Risk Management
  4. Effective Resource Management
  5. Key Resourcing Trends for Internal Audit Teams in 2023
  6. Economic Crime Update

February

In this edition you will find:

  1. 2023 Regulatory Priorities for Deposit-Takers
  2. Credit Risk Management - Insight from a SkilledPerson
  3. ESG Priorities 2023
  4. Economic Crime Priorities 2023
  5. Round-up from the regulators

December

In this edition you will find:

  1. Heads of Internal Audit Roundtable Diversity & Inclusion
  2. The Cost of Living Crisis and Managing Credit Risk
  3. Economic Crime Update
  4. Round up from the Regulators

November

In this edition you will find:

  1. Assurance for Credit Risk and Responsible Lending
  2. Climate Change Risk Management Controls
  3. A new Corporate Governance Code
  4. Economic Crime Update
  5. Round up from the Regulators

October

In this edition you will find:

  1. Cost of Living Crisis Remuneration Arrangements
  2. ESG Disclosures in 2023
  3. Money Mules and APP Fraud
  4. Heightened Cyber Risk
  5. Economic Crime Update
  6. Round up from the Regulators

September

In this edition you will find:

  1. Transformation Projects
  2. Horizon Risk Scanning
  3. Economic Crime Update

August

In this edition you will find:

  1. Regulatory Priorities
  2. Effective internal audit planning
  3. FCA’s Consumer Duty final rules and guidance
  4. FCA SME Collections and Recoveries Review

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