As a reaction to the issues that faced the Financial Services industry and the banking sector, particularly after the 2008 financial crisis, many banks began to create and appoint a new role: the Chief Control Officer (CCO). This role was pivotal in helping banks to identify conduct issues and begin to develop a set of actions that would deliver a clear path towards banks regaining the trust of the societies they serve.
As the CCOs began to shape their roles they began to realise that, for the banks to effect real change, they had to operate in a different way. As part of this journey, a group of six banks met quarterly to discuss issues focused on conduct, identifying matters that impacted not just their own bank, but how these issues were reflected across the banking industry and their impact on society as a whole.
This working group realised that, by creating an opportunity to share their individual knowledge and experience to build a cross-industry training platform, this would help to drive standards of conduct upwards industry-wide.
These discussions led to the creation of The Conduct Academy.