“…we have also identified a number of areas for improvement in the area of governance, focused on the management of conflict of interests, on the separation between certain executive roles and the need for more independent non-executive directors…”
“... the Board is ultimately responsible for risk management and strategy … It is the duty of the board to consider what represents an acceptable and an unacceptable risk in the context of the organisation’s strategy …”
Central Bank of Ireland, 2014
Independence, corporate governance and active risk management are now firmly embedded in the Irish financial services regime and, in particular, into the role of the independent non-executive director (INED). These qualities must also be balanced with the right combination and experience of commercial business, strategy, operational risk and compliance together with a detailed understanding of the regulations affecting businesses.
INED Director Services
Peter Oakes is an experienced and respected financial services professional and non-executive director. Peter, understands the importance which the Central Bank and other regulators place on boards and firms. During his employment as a Director of the Central Bank of Ireland, Peter was involved in the introduction of numerous regulatory initiatives in Ireland, ranging from the new supervisory framework (PRISM), AIFMD, UCITS, Solvency II, Basel III to current EU legislative and regulatory environment.
With ever-increasing demands placed on businesses to demonstrate sound strategic, risk management and governance practices, Peter offers board level contribution on leadership, strategic focus, risk management and a credible reputation in dealings with boards, management, business stakeholders and central banks/regulators. The evolution of voluntary and regulatory codes of governance and law will further require boards collectively, and directors personally, to demonstrate how they have discharged both the board’s and the regulated entity’s oversight responsibilities across a broad regulatory universe.
Through the INED role Peter is able to support businesses and management as they continually adapt to new regulatory initiatives and changes in market conditions. At the Central Bank, Peter had director level responsibility for the enforcement of statutory codes of governance and was personally involved in the drafting of the both statutory and voluntary codes, including making recommendations on policy issues as a Member of the Central Bank’s Policy Committee. This unique experience is of immense comfort and benefit to boards and clients alike.
Background and Experience
In October 2010, having been asked to join the Central Bank of Ireland following the financial crisis, Peter was appointed to the Senior Management Committee and as the first Director of Enforcement and Anti-Money Laundering. Prior to his role at the Central Bank, Peter established and led for 7 years one of Ireland’s first specialist corporate governance and compliance consulting and training firms; growing it to become a successful regulatory practice until he sold the business to accept his Director role at the Central Bank. Prior to the Central Bank, Peter acquired more than two decades of commercial and regulatory experience, including: non-executive director of Irish regulated entities; in-house legal and compliance roles at asset managers and fund administrators in Ireland and the UK; senior roles at the former UK FSA and the ASIC (Australian Regulator) covering compliance risk, enforcement and legal issues; managing director and majority owner of a successful regulatory compliance practice; and lawyer (Ireland, UK and Australia).
Contact Peter Oakes
For a confidential discussion of this INED service and separate consulting and training services please contact me by phone (office +353 1 639 2971 / mobile +353 87 273 1434) or email (peter@peteroakes.com)
INED Director Services
Peter Oakes is an experienced and respected financial services professional and non-executive director. Peter, understands the importance which the Central Bank and other regulators place on boards and firms. During his employment as a Director of the Central Bank of Ireland, Peter was involved in the introduction of numerous regulatory initiatives in Ireland, ranging from the new supervisory framework (PRISM), AIFMD, UCITS, Solvency II, Basel III to current EU legislative and regulatory environment.
With ever-increasing demands placed on businesses to demonstrate sound strategic, risk management and governance practices, Peter offers board level contribution on leadership, strategic focus, risk management and a credible reputation in dealings with boards, management, business stakeholders and central banks/regulators. The evolution of voluntary and regulatory codes of governance and law will further require boards collectively, and directors personally, to demonstrate how they have discharged both the board’s and the regulated entity’s oversight responsibilities across a broad regulatory universe.
Through the INED role Peter is able to support businesses and management as they continually adapt to new regulatory initiatives and changes in market conditions. At the Central Bank, Peter had director level responsibility for the enforcement of statutory codes of governance and was personally involved in the drafting of the both statutory and voluntary codes, including making recommendations on policy issues as a Member of the Central Bank’s Policy Committee. This unique experience is of immense comfort and benefit to boards and clients alike.
Background and Experience
In October 2010, having been asked to join the Central Bank of Ireland following the financial crisis, Peter was appointed to the Senior Management Committee and as the first Director of Enforcement and Anti-Money Laundering. Prior to his role at the Central Bank, Peter established and led for 7 years one of Ireland’s first specialist corporate governance and compliance consulting and training firms; growing it to become a successful regulatory practice until he sold the business to accept his Director role at the Central Bank. Prior to the Central Bank, Peter acquired more than two decades of commercial and regulatory experience, including: non-executive director of Irish regulated entities; in-house legal and compliance roles at asset managers and fund administrators in Ireland and the UK; senior roles at the former UK FSA and the ASIC (Australian Regulator) covering compliance risk, enforcement and legal issues; managing director and majority owner of a successful regulatory compliance practice; and lawyer (Ireland, UK and Australia).
Contact Peter Oakes
For a confidential discussion of this INED service and separate consulting and training services please contact me by phone (office +353 1 639 2971 / mobile +353 87 273 1434) or email (peter@peteroakes.com)
- Download Peter Oakes' short form C.V. here
- Visit linkedin page https://www.linkedin.com/pub/peter-oakes/12/650/b20
- Visit website www.peteroakes.com