Federal Reserve Bank of New York
10/21/2024 | Press release | Distributed by Public on 10/21/2024 09:05
New York Fed to Publish Podcast Series on Banking Culture Reform
Media Advisory
New York Fed to Publish Podcast Series on Banking Culture Reform
October 21, 2024
NEW YORK-The Federal Reserve Bank of New York will publish the latest season of the Bank Notes podcast focused on banking culture reform at 10:00 AM ET on Tuesday, October 22.
The four-part series will examine the role of accountability in preventing misconduct and fostering cultures of integrity. This latest season, which is the fourth to focus on banking culture, builds on themes raised during the Governance and Culture Reform Initiative's ("Culture initiative") 2024 conference.
This season is part of the New York Fed's broader effort to foster the continued improvement of culture and conduct in the financial services industry.
The series will include the following episodes:
Episode 1: 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.
Episode 2: 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.
Episode 3: 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.
Episode 4: 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.
This four-part series and previous seasons of the Bank Notes podcast are available for streaming here. 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.