Starling named as a top tool for HR executives

Starling Team

Starling was recognized as one of 5 essential tools of which HR Directors need to be aware. Along with solutions for employee recruitment and benefits management, Starling was cited as a critical tool to “help companies measure and manage employee dynamics and help them build strong workplace relationships.”

See the article and full list: Top 5 Tools Every HR Director Should Know About

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Essay on Managing Culture in Banking by Outgoing New York Fed President Bill Dudley

Starling Team

Bill Dudley, the outgoing President of the New York Federal Reserve, offers an expansive and candid assessment of the topic of Culture. This essay coincides with a conference on “Reforming Culture and Behavior in the Financial Services Industry” sponsored by the New York Fed on June 18th at which Starling was invited to participate.

Mr. Dudley addresses many of the concerns raised around how to address the management of culture by pointing to recent advances in behavioral science and how those can be applied within organizations. Key to this is recognizing the role that social norms play in behavior and how employees behavioral cues from peers. With this understanding it is increasingly possible to leverage data science and quantitative approaches to measure the “cultural conditions” that work to prompt behavior in ways that are predictable and to better align incentives to achieve those outcomes.

Read the full essay: Coda: Candid Reflections on the Culture Conversation

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Executive Director of the Group of Thirty on Culture and Conduct Reform

Starling Team

Stuart Mackintosh, Executive Director of the Group of Thirty, posted a review of progress made around culture and conduct reform in banking in conjunction with the New York Fed Conference Reforming Culture and Behavior in the Financial Services Industry to be held on June 18th.

Mr Mackintosh points to the need for both sustained leadership as well as strong processes in place to foster and encourage the behaviors that sustain culture. These are particularly important in order to enable firms to stay current with evolving cultural norms such as around diversity, the role of business, or even as relates to technology advances.

Read the full article: Culture and Conduct Reform: A Permanent Mindset Change

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Why Compliance Programs Fail – And How to Fix Them | HBR

Starling Team

Despite hundreds of millions of dollars in spend and huge hiring increases, firms have yet to figure out how to manage compliance effectively. In this article from the Harvard Business Review, the authors argue that the problem lies not with the compliance tools being deployed but rather with the lack of effective measurement tools. Firms simply lack the necessary tools to know what works and what does not.

Certainly firm leaders attempt to signal commitment to compliance through pronouncements from above. Efforts to establish a ‘tone from the top’ will only go so far – particularly when the tone from the middle is that general employees lack trust in senior management and are reluctant to speak out from a belief that whistle-blowers face retaliation.

With greater and greater scrutiny place on compliance programs, those that can not show meaningful results will fail to meet the stronger regulatory standards being applied today.

Read the article: Why Compliance Programs Fail

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Starling Featured at Milken Institute’s 2018 Global Conference

Starling Team

Starling Founder and CEO Stephen Scott was featured on a panel at the Milken Institute’s 2018 Global Conference on the subject of “Big Data: The Next Frontier in Risk Management”.

Described by the moderator Starling was joined by executives and founders from other innovative companies that are bringing innovative new technologies to the field of Risk Management. Panelists discussed new opportunities that these technologies offer as well as how they are working to make algorithms more transparent and resistant to biases that can impact outcomes.

More than 4,000 international leaders in business, government, science, philanthropy, academia, arts, and culture attended the 21st Milken Institute Global Conference in Los Angeles earlier this month. The program featured candid conversations about trade, technology, national security and the opioid crisis, among other issues. At the same time, CEOs, philanthropists, investors, innovators, and medical researchers discussed topics ranging from artificial intelligence to blockchain, financial regulations, global markets and breakthroughs in health.

A recording of the panel is available: Big Data: The Next Frontier in Risk Management

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