House of Lords Criticised for Culture of Bullying and Harassment | Financial Times

Starling Team

Naomi Ellenbogen published a report that cites ‘toxic behaviours unworthy of any institution’. Her House of Lords Commission report did not name any alleged offenders but found “toxic behaviours” and “systemic cultural issues”.

The report comes after a series of harassment cases in the House of Commons. It called for sweeping change to the rules that apply to both members of the House of Lords as well as their personal staff, and processes to ensure that complaints were taken seriously in future.

While staff members said that most members of the House were not problematic, they also described a “hard core” of offenders, and estimated that as many as 20 per cent of the members behaved in an “inappropriate and high-handed” way.

Working with Starling can help organizations prevent issues with culture and conduct. We provide data driven insights that allow our customers to create the most efficient, productive and powerful organizations possible, and to transform those held back by culture or conduct related risks.

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Culture Will Cost Big Three Banks $500m | Financial Review

Starling Team

Due to governance risks and the corporate culture discovered through self-assessments, Australia’s prudential regulator is now forcing Westpac, ANZ Bank and National Australia Bank to hold an extra $500m each in capital.

This order for comes eight months after the three banks, along with 33 other financial institutions, submitted detailed self-assessments of their management governance and culture.

APRA chairman Wayne Byres said that self assessments, which were ordered after a scathing inquiry into the Commonwealth Bank’s culture and governanc had revealed “complexity, unclear accountabilities, weak incentives and cultures that have been too accepting of long-standing gaps” in the banks

Westpac, ANZ and NAB have to hold the additional capital until they complete customer remediation program and fix the problems identified in the self-assessments.

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Technology Overtakes Regulation | Thomson Reuters

Starling Team

Compliance has changed significantly over the past 10 years as a result of escalating regulation, technology development, a focus on culture and the relationship between business, conduct, and compliance.

Thomson Reuters Regulatory Intelligence (TRRI) has been tracking changes in compliance for 10 years. In its 10th anniversary report – Cost of Compliance 2019: 10 years of regulatory change – they cover the results of annual research into challenges financial services firms anticipate facing and how practitioners compliance will evolve over the next decade.

Over the lifetime of this report, there have been 6,000 participants. It has also been downloaded over 40,000 times. This report clearly reflects the reality for risk and compliance practitioners globally.

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Starling Trust Sciences On The SEACEN Centre Podcast

Starling Team

Recently, Glenn Tasky, SEACEN’s Director of Financial Stability and Supervision / Payment and Settlement Systems, interviewed Stephen Scott and Jeff Kupfer of Starling Trust Sciences, LLC.

Scott and Kupfer discuss the most prominent and most recent banking scandals and emphasize that culture within a bank (or any firm) is contagious, and both executives and employees take their cues from their peers – not necessarily from laws, regulations, and best practices – in deciding on a course of action.

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Amnesty International + “Toxic Culture” | BBC UK

Starling Team

Amnesty International will lose most of its senior leadership team after a report said it had a “toxic” workplace. According to one survey, one in three workers say that they’ve been treated poorly at work since 2017.

The human rights organisation’s secretary-general, Kumi Naidoo, ordered an independent review after two employees killed themselves last year. In the review, one staff member described Amnesty as having “a toxic culture of secrecy and mistrust”.

The report also pointed to an “us versus them” dynamic between employees and management. “Across many interviews, the word ‘toxic’ was used to describe the Amnesty work culture as far back as the 1990s. So were the phrases ‘adversarial’, ‘lack of trust’, and ‘bullying’,” the report said.

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