Irish Banking Culture Board

The IBCB today hosted a Behaviour and Culture Conference which focussed on the Central Bank of Ireland’s (CBI) Individual Accountability Framework (IAF) and the progress made by IBCB member banks, AIB, Bank of Ireland, and PTSB, in its implementation. The event included several panel discussions with delegates of national and international regulators from the CBI and Federal Reserve Bank of New York, leading academics, and representatives from across IBCB’s member banks who have overseen IAF implementation. Speaking at the event, Chairman of the IBCB, Mr Justice John Hedigan, said: “The Individual Accountability Framework has been much welcomed by both the IBCB and our member banks. It provides a great opportunity for Ireland to emphasise the robust governance controls and focus on accountability in place across the Retail Banking system.” In addition to showcasing how Irish retail banks implemented the IAF to enhance existing governance procedures and provide clarity to role-holders, the event was an opportunity for IBCB member banks to share lessons learned and high-level best practice with other financial sector entities who are working to implement the requirements. Speaking at the event, Central Bank of Ireland Deputy Governor, Derville Rowland, said: “The expectations set out in the IAF are already familiar to regulated firms in Ireland. Our experience is that the legislation enshrines the standards to which most firms and individuals already hold themselves. Nevertheless, where the framework has been embedded within a firm it supports their effectiveness with regard to safety and soundness, consumer and investor protection and financial resilience. As with all our work, our intention is to underpin and support the best outcomes for consumers.” Commenting on the importance of the conference, CEO of the IBCB, Marion Kelly, said: “It is in the best interests of the wider financial services sector to effectively implement this critical piece of regulation. Individual accountability is at the core of good organisational culture and our member banks are committed to ensuring a thorough implementation at their respective banks, and to sharing the lessons learned with other financial sector stakeholders. Ireland is gaining international interest in our response to cultural issues in the sector, such as the IAF, and through this IBCB event, we have further opportunity to lead the way, support collaboration and engagement, and demonstrate that lessons have been learned from the mistakes of the past.” Photo of Derville Rowland, Jade McDonagh, Mr. Justice John Hedigan, Marion Kelly, Professor Mary Condon. Photo by Barry Dillon

Gary Duffy, Head of Customer Policy with the IBCB, yesterday attended the launch of the new National Payment Strategy (NPS) on behalf of the Irish Banking Culture Board at the Central Bank of Ireland. Throughout this process, the IBCB has supported the Department of Finance with the NPS journey, through a submission to the initial consultation, and engagement in follow up meetings with the Department of Finance and other stakeholders. The IBCB are pleased to see the strategy enhances resilience and choice of digital and cash payments in Ireland whilst providing further protection for consumers against fraud. https://lnkd.in/du2JWxkG

The National Advocacy Service for People with Disabilities launched their report this morning entitled Shortchanged: Barriers to Financial Autonomy for People with Disabilities in Ireland. Our Senior Manager, Linda Ayres was invited to join the panel to discuss the paper’s findings, the core issues and actions to empower and increase the financial autonomy of people with disabilities. The report is very insightful and highlights the continued need for a focus on financial inclusion and a rights-based approach to banking across the sector. https://lnkd.in/eHWp9zg2

Today is World Inclusion Day. Inclusion and financial inclusion are key priorities within the IBCB’s work programme. The IBCB are delighted to announce that next month, in partnership with inclusio Learning Labs, we will be rolling out an Inclusive Communication initiative to our member banks, AIB, Bank of Ireland and PTSB. The initiative includes co created learning modules and practical toolkits for leaders and staff, which can be used on a daily basis to support their communications both internally with colleagues and externally with customers. More information will be shared here and, on our website, later this year. 

This morning the IBCB hosted a roundtable discussion focussing on how the sector can further enhance banking supports for survivors of domestic abuse. The IBCB and our member banks AIB, Bank of Ireland, PTSB, are very proud of our initiative to provide financial wellbeing training for survivors of domestic abuse, partnering with Safe Ireland and TASC - Think-tank for Action on Social Change. We were delighted to also welcome SUSAN ROBERTSON from the Central Credit Register (CCR), Faye Dunne from An Post and Johann D'arcy and Mark Johnston from the Irish League of Credit Unions to also participate in our discussion today. It was a great opportunity for the sector to come together to collaborate on a societal issue towards a common goal. Thank you to all the representatives from the domestic violence services across Ireland for coming along and participating in this event today to support the financial wellbeing of survivors of domestic abuse.

Community Finance Ireland hosted the FEBEA - European Federation of Ethical and Alternative Banks and Financiers Annual Conference on ethical finance in Dublin this week. Trust in financial services, along with financial inclusion and financial literacy were key themes throughout the sessions. These are all core areas of focus for the IBCB.

The IBCB is delighted to announce the appointment of Michelle O' Hara B.L. to its Board, effective today 11th September. Via her role with MABS, the Money Advice & Budgeting Service, Ireland and with her strong background in customer advocacy, Michelle will bring immense value to the IBCB.

Our Senior Manager, Linda Ayres, today presented at the National Financial Literacy Strategy. Linda was delighted to share an overview on how the IBCB collaborated with other stakeholders to support financial inclusion through initiatives focused on improving financial literacy and awareness.

We're very proud to share this video which captures the spirit and the sentiment of the IBCB's Inaugural Proud to Work in Banking Awards and what they meant to the staff who were nominated. #proudtoworkinbanking   Well done to all our shortlisted nominees and winners in 2024, we look forward to seeing more nominations in 2025 highlighting all the reasons the sector has to be proud!    For more information on the Awards please visit our website at: www.ibcb.ie/proud AIB Bank of Ireland PTSB

We're very proud to share this video which captures the spirit and the sentiment of the IBCB's Inaugural Proud to Work in Banking Awards and what they meant to the staff who were nominated. #proudtoworkinbanking   Well done to all our shortlisted nominees and winners in 2024, we look forward to seeing more nominations in 2025 highlighting all the reasons the sector has to be proud!    For more information on the Awards please visit our website at: www.ibcb.ie/proud AIB Bank of Ireland PTSB