Introduction

The content of this section on Governance has been developed by Paul Griffiths for the Retail Banking Institute to be used on professional banking certification programmes. It is aimed at senior bankers to make them aware, and in fact internalise, the changes that need to be incorporated into corporate governance to cope with the challenges posed by the transition to a knowledge economy.

The content of this module draws heavily on the book

Griffiths, P.D.R. (2021) Corporate governance in the Knowledge Economy: Lessons from case studies in the Finance Sector, Palgrave-Macmillan; New York.

which should be read in conjunction with these notes. The module makes reference to several of the case-studies developed in the book. On completion of the course the participant should achieve the following learning outcomes:

• To internalise the challenges that the knowledge economy puts on bank governance
• To know the levers a bank possesses to construct a corporate culture that protects and enhances its intangible assets
• To value the importance of balancing business objectives with an independent compliance function
• To have a clear point of view around sustainability and stakeholder management in a context of increasing demands on banks to drive society towards a green economy
• To be alert to the challenges of operating internationally in contexts of different societal cultures

As opposed to the remaining modules of this programme that are mainly focused on the Retail Banking business unit, this module, by the very nature of its content, encompasses all the business areas of the bank. This introduction is followed by four thematic sections. At the end of each section is an exercise for reflection that should be completed before going on to the next section.