In this episode of RiskMasters, we delve into the critical intersection of conduct and culture in risk management with expert Toby Billington. As a seasoned risk and compliance leader, Toby asserts that ‘Conduct beats controls every day; fix the culture, and the controls will follow.’

Join host Julien Haye as Toby shares his extensive experience from legal advisory to leading compliance at top institutions like Barclays, Deutsche Bank, and HSBC. Discover how authentic leadership fosters cultural change and the significance of aligning tone from the top with genuine behaviors in organizations.

We also discuss the evolving role of first and second lines of defense in enhancing accountability and the narrative-driven approach to risk communication that engages senior risk leaders. With emerging threats in financial crime and cybersecurity, Toby emphasizes the necessity of innovative strategies to stay ahead of risks.

Tune in for compelling insights into building a robust risk culture and redefining compliance into a strategic advantage. Connect with Toby Billington on LinkedIn for more on improving risk management frameworks and leadership in financial services.

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In this edition of RiskMasters, you will learn:

• Career Shifts and Lessons Learned: Toby reflects on his transition from legal advisory to conduct and risk culture, highlighting pivotal career moments that shaped his expertise and his focus on behavioural science.

• Authentic Leadership and Cultural Change: Toby emphasizes the importance of authentic leadership in driving cultural transformation. He discusses the challenges of aligning tone from the top with actual behaviours and provides practical steps to ensure leadership walks the talk.

• The Role of First and Second Lines of Defence: Toby critiques the traditional three-lines-of-defence model, proposing greater collaboration between first and second lines to reduce duplication, enhance accountability, and streamline risk oversight.

• The Power of Storytelling in Risk Communication: Toby highlights the value of narrative-driven risk reporting to engage senior leadership and move beyond data-heavy, technical discussions.

• Emerging Risks in Financial Crime and Cybersecurity: With advances in AI and quantum computing, Toby outlines the evolving threats in financial crime and cybersecurity. He stresses the importance of staying ahead of these risks through innovation, vigilance, and behavioural psychology.

More about Toby Billington:

Toby Billington is a highly respected compliance and risk management leader with a career spanning top financial institutions such as Barclays, Deutsche Bank, HSBC, and Citi. Recognized for pioneering conduct frameworks and promoting ethical behaviour in financial services, Toby’s work integrates behavioural science into risk management strategies.

Connect with Toby on LinkedIn to explore more about compliance, risk culture, and leadership in financial services.

Tune in to this episode for an in-depth discussion on improving risk culture, redefining compliance frameworks, and managing emerging threats.

Find out more about Toby Billington:

https://www.linkedin.com/in/toby-billington-0646b89/

Discover related risk management topics:

How to Establish a Sustainable and Sound Approach to Regulatory Compliance

Ethical Compliance Management

Understanding and Overcoming the Risks of Cultural Silos: Building a Collaborative and Inclusive Workplace

FCA CP23/20 Consultation: Diversity and Inclusion in Financial Services

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