Executive Summary
Even following reforms passed in the wake of the 2008 financial crisis, large financial institutions continue to be beset by scandals. Several European banks are using an innovative approach to prevent ethical lapses before they spiral out of control. Called “behavioral risk teams,” they can move freely within an organization. The key competencies that all firms can mimic from these teams include: understanding how to use behavioral science and by extension OD; investigating underlying root causes instead of treating surface level symptoms; focusing on…
