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Culture & Conduct Risk in Banking: Achieving a Better Standard of Care

Culture & Conduct Risk in Banking: Achieving a Better Standard of Care

by Stephen Scott, Tom Reader

Oct 18, 2021

Thoughts

Future of Work Behavioral Science Culture & Conduct Supervision

In a recent piece published by Thomson Reuters Risk Intelligence, Starling Founder and CEO Stephen Scott and Starling advisor Tom Reader, a professor at the London School of Economics, argue that misconduct scandals in the banking sector are a systemic concern, harming stakeholders and eroding trust in the industry.

This will continue, they argue further, unless we move past the current ‘detect & correct’ mindset in conduct risk management and adopt the ‘predict & prevent’ standard of care that is seen in other critical industries.

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