Taking Stock: Reflections and Insights on Culture in Financial Services
In this episode, series host Toni Dechario is joined by her Culture initiative colleague Tom Noone. Together, they reflect on how approaches to culture and governance in financial services have shifted over the last decade and highlight key moments from the 2024 annual New York Fed culture conference. To learn more about the New York Fed’s Governance and Culture Reform Initiative, visit the website for additional resources related to the study of conduct and culture in the financial services industry.
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43:32
Culture, Compliance, and Lessons Learned from FIFA
Former prosecutor for the Eastern District of New York Evan Norris discusses the FIFA corruption scandal and why his past cases carry lessons for the financial services industry. In this episode he discusses building cultures of strong compliance, and how misconduct can be harnessed as an opportunity for broad-based learning and meaningful improvement. To learn more about the New York Fed’s Governance and Culture Reform Initiative, visit the website for additional resources related to the study of conduct and culture in the financial services industry.
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45:43
The Fraudster, the Whistleblower, and the Bystander
Forensic accounting professor and fraud detective Kelly Richmond Pope describes why and how fraud occurs. In this episode she highlights the importance of clear incentives and discusses her interactive online games designed to help users understand the drivers of fraud and whistleblowing. To learn more about the New York Fed’s Governance and Culture Reform Initiative, visit the website for additional resources related to the study of conduct and culture in the financial services industry.
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47:21
What Makes a Banker? Cultivating Accountability through Shared Identity
Joe McGrath and Ciaran Walker, co-authors of the New Accountability in Financial Services, offer recommendations for promoting accountability through professionalization and the adoption of shared industry norms. In this episode they discuss the role of shared professional identities, moral anchors, and other mechanisms organizations can use to foster individual and group-based accountability. To learn more about the New York Fed’s Governance and Culture Reform Initiative, visit the website for additional resources related to the study of conduct and culture in the financial services industry.
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43:23
Veterans in the Labor Force
Veterans are 22% more likely to be out of the labor force than comparable nonveterans, according to New York Fed research from May 2023. In this episode, experts working across the military-connected population speak to the reasons behind the participation gap, also debunking some of the most widely held misperceptions surrounding career paths within the military and the outcomes and experiences of military service. Additionally, they introduce listeners to educational and vocational opportunities unique to veterans and military families, and new research from the New York Fed points to developments from the past year. Information and resources from the episode can be found at nyfed.org/podcast.
Colombia