Independent Monitoring Panel
The Report's Recommendations
Background to the Panel
It is important that professional standards are effectively implemented and monitored if the CB:PSB is going to achieve its aims of rebuilding trust, confidence and pride in banking. The Terms of Reference for the Panel can be viewed here.
Following the recommendations arising from the 2015 CB:PSB Monitoring Working Group, whose aim was to look at how the independence of the CB:PSB monitoring process could be enhanced, an Independent Monitoring Panel (IMP) was created in 2016.
The IMP comprises appropriately skilled and experienced members and monitors the effectiveness of CB:PSB standards implementation and the extent to which CB:PSB aims are being delivered. Dr Ian Peters MBE, Chief Executive, Chartered Institute of Internal Auditors, Chairs the Independent Monitoring Panel which will ensure a stronger focus on monitoring and assurance at the CB:PSB Board.
Panel Members (as at November 2017)
The Members of the Independent Monitoring Panel, which held its first meeting held on the 12th October 2016 (click here to view the Press Release), are: Dr Sarah Blackburn; Zinta Krumins; Cat MacLean; and Karen McArthur.