GBC is pleased to announce the appointment of Mr Stephen Rosling to the Board of Directors of Global Business Counselling Pte Ltd (“GBC Singapore”). Stephen has a deep understanding of Conduct Risk principles and requirements developed over 10 years of working in this field and has been associated with Global Business Counselling since 2014. Stephen has worked with firms in the UK, India, Malaysia and Sri Lanka and has extensive experience in the financial services sector covering all insurance lines of business, in addition to pensions, lending, credit, and banking. He has worked with senior leaders in operations, change, governance, risk and compliance to deliver on culture and conduct related initiatives, including senior management accountability, data protection, insurance distribution and acquisition costs. His experience includes leadership responsibility on firm-wide operational projects, conduct risk programmes and reviews of corporate governance frameworks. He most recently worked on a successful conduct risk programme with Sri Lanka’s largest life insurance firm. Stephen has also written several articles on the subject of conduct risk and presented at global insurance seminars.
Mr Rosling opines that “Conduct Risk continues to receive significant regulatory and media attention. Insurance firms have proved slow in getting to grips with the definition of conduct risk and its relationship to firm-wide organizational culture. However, the recent Australia Royal Commission report into misconduct is expected to have a widespread and long-lasting effect, including on the priorities and activities of other regulators in the region. Firms need to know that they can no longer afford to ignore conduct risk, but many don’t realise how urgent the issue is”.
Recognising the increasing importance of Conduct Risk in a customer-centric world, Mr Chandri Gunawardhana, Managing Director of GBC Singapore, former Director General of the Insurance Regulatory Commission of Sri Lanka, added “We warmly welcome Stephen to our Board of Directors, to augment GBC’s firm commitment to foster responsible business practices. Stephen brings to the company a wealth of hands-on knowledge, expertise in the specific field of conduct risk and global experience in financial services, in addition to his strategic insights and management skills.”