Dear Jane

I was reading the FCA’s recent paper on Culture and Non-Financial Misconduct and immediately thought of you and our conversations about your leadership journey in finance. The FCA’s findings underscore some of the challenges you’ve been sharing with me—the pressure to uphold a demanding workload, maintain standards, and foster a positive culture, all while balancing your personal well-being. This paper sheds light on issues that are close to home for many leaders in finance, especially women who are striving to lead with integrity and impact.

The FCA report highlights an important truth: culture in financial services isn’t just about numbers, regulations, or policies. It’s about the behaviours, values, and expectations that shape our work environments. Non-financial misconduct—issues like bullying, harassment, and other inappropriate behaviours—can deeply impact not only organisational culture but also individual well-being and performance. As leaders, we're often expected to not only manage these issues but also prevent and reshape them, a responsibility that can be overwhelming.

Here are some points I thought you would find of interest:

1. Set Clear Boundaries for Yourself and Others

The FCA emphasises that leaders set the tone. You have the power to model boundaries that protect both your well-being and your team’s. Clear boundaries around respect, transparency, and professional conduct aren’t just for others—they’re for you too. When leaders establish boundaries for themselves, it creates a ripple effect, empowering the whole team to value and respect those standards.

2. Redefine Success Beyond the Numbers

The report underscores the importance of looking beyond financial metrics. Often in finance, success is equated with performance figures and productivity stats. But what if success also meant fostering a supportive and inclusive culture? Redefining success means recognising the impact of well-being, trust, and psychological safety on long-term performance. In your role, imagine the difference it would make if your team felt genuinely safe, respected, and valued. This shift in focus can be transformative for everyone involved.

3. Challenge the "Too Busy to Address Culture" Mindset

I know how busy you are, and I understand that addressing culture and misconduct can seem like yet another item on a never-ending to-do list, or even the where do I start questions that will go through your head as I know you alone cannot do it. However, making time to address these issues where you are able can ultimately reduce stress and increase productivity. Creating a culture that starts with you where non-financial misconduct is actively managed allows you and your team to focus more on meaningful, high-impact work rather than dealing with the repercussions of a toxic environment. Remember, the health of your team and the quality of your leadership aren’t extras—they’re essentials.

4. Embrace a Mindset of Resilience and Empathy

The FCA’s report reminds us that change starts with us. As a leader, embracing resilience and empathy can help you model the behaviours that foster a healthy culture. This doesn’t mean you need to be perfect or have all the answers; it means showing up with integrity, staying open to feedback, and responding thoughtfully to challenges. These qualities aren’t just good leadership traits—they’re the building blocks of a culture that discourages misconduct and values well-being.

5. Seek Support When Needed

Culture change is hard work, and you don’t have to do it alone. Lean on your network, mentors, and coaches to navigate these challenges. Remember, there’s no shame in seeking guidance to manage the complexity of leadership in today’s environment. If there’s one thing I’ve learned, it’s that leaders like you thrive when they invest in their own growth and well-being, alongside that of their teams.

This masterclass and the work we’re doing together focus on creating a balance between your ambitions and your well-being. As you navigate your career, remember that building a culture of respect and accountability isn’t just a professional requirement—it’s a way to lead with clarity and purpose. And it starts with the small, intentional actions you take each day.

Speak soon, Jess