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NY Fed Holds Culture Conference

NY Fed Holds Culture Conference

by Starling Insights

Starling Insights Editorial Board

Jun 21, 2023

Observations

NY Fed Regulatory Trends Culture & Consequences Culture & Conduct Supervision Culture & Performance Resilience & Culture Suptech Innovation & Technology Psychological Safety Compensation & Incentives

Yesterday, the Federal Reserve Bank of New York held its first in-person Governance and Culture Reform Conference since the covid pandemic began, featuring panels with guests such as Michael Barr, Vice Chair for Supervision at the US Federal Reserve Board, and Damian Williams, US Attorney for the Southern District of New York.

Following a welcome by James Hennessy, Head of the NY Fed's Governance and Culture Initiative, the conference covered a range of topics, including psychological safety, the management of culture and conduct risks, and the role of incentives in driving employee behavior. The speakers also emphasized the need for increased supervisory capabilities, and called for the use of behavioral science and technology to manage non-financial risks more proactively.

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