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Culture & Consequences

Examples from the headlines of how culture and behavior drive critical business outcomes.

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APRA Reduces Westpac Capital Add-On by $500M

by Starling Insights

Observations

Jul 24, 2024

The Australian Prudential Regulation Authority (APRA) announced last week that it would reduce the $1 billion operational risk capital add-on it had applied to Westpac by $500 million. APRA said the reduction was due to the bank's progress in improving its governance, culture, and risk management.

The 2024 Compendium is available June 11th!

Now in its 7th year, Starling's Compendium features over 40 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

Why We Follow: The Power and Perils of Belonging

by Langley Sharp MBE

Compendium

Jun 11, 2024

The need to belong is both an individual and collective human drive. Edward O. Wilson and Robert Dunbar explore how selflessness, aligned with social group needs, fosters harmony. Strong bonds increase perceived safety and self-esteem, while close-knit groups, like tribes or military units, exemplify loyalty and high performance. However, misguided collective psychology can lead to division and distrust.