Policymakers are exploring the question of “good character” and asking how financial sector overseers may examine it effectively, amidst efforts to assure that those working in the financial sector are “fit and proper” for their roles. But while character is important, it is cultural context that condones or challenges its expression. Character evaluations must be complemented by an appreciation of cultural context.
Compendium
Jun 23, 2025This interview with Roy Baumeister explores how the fundamental human motivation to belong underpins emotional well-being, power dynamics, and organizational behavior. The need for belonging is linked to conduct risk, culture risk, and governance failures, emphasizing how conformity to group norms can foster misconduct or toxic environments. Even well-intentioned employees may mimic unethical behavior if it reflects prevailing cultural cues.
Compendium
Jun 23, 2025Compendium
Jun 11, 2024Compendium
Jun 11, 2024The DFS developed guidance for assessing the character and fitness of directors, senior officers, and managers to enhance corporate governance and oversight standards. This initiative follows the banking crisis of March 2023, emphasizing that institutions must thoroughly vet their leadership. Key qualities for bank leaders include integrity, respect, and commitment to fiduciary duties, which can be evaluated through comprehensive vetting processes and adherence to risk management frameworks.
by Stephen Scott, Jamie Fiore Higgins, Elizabeth Broderick
Compendium
Jun 11, 2024
