Assignment:
REFLECTIVE ASSIGNMENT ON PROFESSIONAL ETHICS AND REGULATION IN BANKING
Important Notes
Answer should be 3,000 words long, plus or minus 10%. (References within the body of the assignment are included in the word count; reference lists and appendices are not). The word count should be noted at the end of your assignment and on your assignment cover sheet. Assessment Requirements This assignment is a piece of reflective work which requires candidates to:
• look back at events / situations within their professional career
• analyse those events / situations from different perspectives
• think carefully about what those events / situations mean for them and their ongoing professional career.
Learning OutcomesShould be able to demonstrate:
1. an awareness of how banking and banking regulation have changed since they completed their initial qualification and how these changes affect current banking practice
2. an understanding of the key principles of customer-focused ethical professionalism in a banking environment
3. an ability to apply ethical thinking, decision-making and professional judgement to situations at work in which ethical dilemmas and conflicts of interest may arise.
Assessment of Achievement of Outcomes Candidates can evidence achievement of the above outcomes by:
1. reflecting on how banking and regulation has changed since they completed their studies with the Indian Institute of Banking and Finance and how this affects their current banking practice
2. describing the key principles of ethical and professional behaviour in a banking environment, and explaining why this is important
3. reflecting on situations at work where they have been faced with an ethical dilemma or conflict of interest, and applying ethical theories and decision-taking models to explain what action they would take, and why, were they to be faced with similar situations in future.
Assessment Criteria
The assignment will in accordance with the following assessment criteria: Assignment Assessment Criteria Relevance Question answered thoroughly with relevant content from the study material, work experience and other relevant and reliable sources. Understanding Key Concepts and Theories Demonstrates a sophisticated understanding of key concepts and theories and subjects these to critical analysis based on experience gained in the workplace. Synthesis of Knowledgeand Ideas Makes good connections and comparisons within and between areas of knowledge. Draws from a broad range of knowledge, ideas and experience as well as including relevant depth of detail to formulate conclusions. Critical Thinking and Analysis Views and evaluates information from different perspectives, including personal experience. Provides sound and reasoned arguments with relevant evidence to make informed judgments and support conclusions. Practical Application of Knowledge, Understanding and SkillsConsistently interprets and applies information accurately. Draws on knowledge and understanding gained in the workplace. Demonstrates an ability to apply knowledge in relevant work situations and relates it to own experience. Structure and Presentation Logical and coherent structure. Meets recommended word count. Sources of information are acknowledged and appropriately referenced.
Question
1. (approximately 900 words) Reflect on how banking and the financial services environment has changed since you completed your banking qualification, and what impact these changes have had on your working practices. Consider, for example:
• the economic environment
• the regulatory environment
• competition / customers/sales and service
• technology and innovation
• operational practices
• recruitment and selection/roles / jobs
• learning and development
• strategy / values/cultureQuestion
2. (approximately 900 words) Consider why ethical and professional behaviour is important in banking / financial services, and what you think it means to be an ethical and professional practitioner within the context of your role.
Question 3 (approximately 1200 words)
(a) Consider a work situation when you have been faced with an ethical dilemma, or conflict of interest and, whilst respecting third party confidentiality, use the following questions to help you reflect on the situation. What happened? Where? What was your part in this? What did you do? Who else was involved? What did they do? What was the result? What professional and/or ethical issues did this raise? In what ways were your own values/ethics compromised? Were you satisfied with what you did? To what extent did your actions match your beliefs and values? What did you think when the event started? How did you feel? How did you feel about the outcome of the event at the time? What do you think, and how do you feel about it now? What was good about the experience? What was bad about it? What went well? What didn't go so well? What would you do differently if this happened again, and why? What would you do the same? What did you learn from this experience? How will you apply this learning in future?
(b) Reflecting on the ethical theories you have studied, explain which theories best support the action that you took, and in what ways.
(c) Select an ethical decision-taking model and apply this to the situation you have described and reflected upon. If you were faced with the same situation in future, what decision would you make as a result of using this model, and why? What additional factors, if any, did you take into account when using this model compared to your actual experience of the situation you described?
(d) What have you learned from applying this model, and how will you apply this learning in future?
Warning? The assignments are subject to checks for plagiarism using specialist computer software? To meet the above assessment criteria, you must answer all questions.