Bank Notes takes listeners deeper into insights and analysis from the New York Fed, told series by series.
Recognizing the Importance of Culture (Introduction)
John C. Williams is the President and CEO of the Federal Reserve Bank of New York. In this brief introductory episode, John touches on the perspectives that listeners can expect to hear in this season of Bank Notes, "Banking Culture Reform: Norms, Mindsets, and Decision-Making," as well as the importance of culture in shaping decisions at the individual and institution-wide levels.
Exploring the Predictive Power of Guilt
Taya Cohen is an associate professor of organizational behavior and theory at Carnegie Mellon’s Tepper School of Business. She studies moral character in the workplace, including the predictive power of guilt proneness in individuals. In this episode, Taya discusses why highly guilt prone individuals may have a moral advantage and shares her perspective on individuals’ proclivities toward ethical behavior and honesty, as well as how to hire for these traits.
Establishing Values, Not Rules
Mark Mortensen is an Associate Professor of Organizational Behavior at INSEAD. He studies collaboration, team dynamics, and communication, with a particular focus on remote and distributed work. In this episode of "Banking Culture Reform: Norms, Mindsets, and Decision-Making," Mark tells us what drew him from engineering to behavioral science, why we can’t rely on rules to drive good decisions, and the critical importance of psychological safety in building strong cultures.
Prioritizing People and Mission… in Space
Holly Ridings is the Chief Flight Director at NASA, an institution that’s spent more than six decades thinking about how culture connects to outcomes. In this episode of "Banking Culture Reform: Norms, Mindsets, and Decision-Making," she talks about putting safety and mission first, the importance of having humility to learn from past mistakes, and how NASA’s culture helps directors of human space flight develop their command presence and remain laser-focused.
Applying Neuroscience to the Workplace
Elizabeth “Zab” Johnson is a neuroscientist and the Executive Director of the Wharton Neuroscience Initiative at the University of Pennsylvania, where she harnesses insights from brain science to help understand and improve business outcomes. In this episode of "Banking Culture Reform: Norms, Mindsets, and Decision-Making," Zab helps us to better understand the neuroscience behind the behaviors and decisions that we see, and shares how practices like perspective-taking can help build stronger cultures.
Understanding Behaviors in Context
David Grosse is responsible for conduct risk, culture and behavior at HSBC Global Banking and Markets. A long-time banker, he became convinced that understanding human behavior was central to understanding what was happening at a bank, and went back to school to earn an MSc in Behavioral Science. In this episode of "Banking Culture Reform: Norms, Mindsets, and Decision-Making," David tells us about his own experiences with context and group behaviors – including at rugby and soccer matches.