The Chief Executive of the Chartered Institute of Internal Auditors, Dr. Ian Peters MBE, is to chair a new Independent Monitoring Panel (IMP) launched today by The Chartered Banker Professional Standards Board (CB:PSB) to provide independent assurance that their professional standards are being delivered by the banks.
Meeting for the first time today in London, Dr. Ian Peters will chair the IMP and will be joined on the Panel by four highly skilled and experienced members*, recruited from a variety of backgrounds.
Ian Peters’ appointment as chair of the IMP complements the work the Institute has been doing to promote good governance. In particular, the Institute’s code for effective internal audit in Financial Services and its broader work in the sector on the audit of culture have resonated positively.
The IMP was established on the recommendation of a Monitoring Working Group in 2015 to increase the independence of the monitoring process. The IMP will provide more transparency about the ongoing work to improve professionalism in Banking and will produce its first report in 2017.
Established in 2011 by the Chartered Banker Institute and ten leading UK banks**, the CB:PSB is at the forefront of the drive to build and demonstrate professionalism in banking, and is the only body that creates professional standards of conduct and expertise for bankers to achieve individually.
Ian Peters, Chief Executive of the Chartered Institute of Internal Auditors comments: “The IMP will monitor the effectiveness of CB:PSB standards’ implementation and the extent to which CB:PSB aims are being delivered. I am delighted to be the first Chair of the IMP and believe that the Panel will ensure a stronger focus on monitoring and assurance at the CB:PSB Board.”
*Sarah Blackburn, Zinta Krumins, Cat MacLean, Karen McArthur
**CB:PSB members are Barclays, Clydesdale and Yorkshire Banks, HSBC, Lloyds banking Group, RBS, Sainsbury’s Bank, Santander, Tesco Bank, United Trust Bank and Virgin Money