Happy holidays from us to you—get up to $30 off your next print or eBook! Shop now >>

Remaking Culture on Wall Street

A Behavioral Science Approach for Building Trust from the Bottom Up

Authors: Engler, Henry

  • Looks at culture from a bottom-up approach rather than the top-down strategy that many institutions have in place
  •   Discusses today’s compliance programs which are “criminally-,” or “enforcement-based"
  • Emphasizes a behavioral science approach that puts employees at the core of reforms
see more benefits

Buy this book

eBook $29.99
price for USA in USD (gross)
  • ISBN 978-3-030-02086-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $37.99
price for USA in USD
  • ISBN 978-3-030-02085-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Since 2008, financial firms have paid, in aggregate, in excess of $320 billion in fines related to misconduct. Nearly ten years later, while many large financial firms have increased their attention to bad behavior and cultural drivers, the degree of commitment and progress in these efforts has not been even across the industry. Serious or persistent misconduct continues in some firms. Many organizations have attempted to curb bad behavior through intrusive monitoring and enforcement actions which reflect a lack of trust in their employees. A different approach is needed, one that gets at the root causes of misconduct and attempts to rebuild culture from the bottom up, with the employee at the center. This is where tools from behavioral science can help senior risk officers, compliance and business heads better understand the mind-set of their employees and internal communities and create an environment where the link between ethical behavior and strong business results is promoted.  If firms continue to fail in establishing stronger internal cultures, regulators may feel compelled to step in and dictate what they should do. This book emphasizes the need for a change in approach, looking at the increased incidence of misconduct and culture breakdown since the 2008 crisis, how regulators have responded, and includes a series of proposals to restore that trust and reform culture.

About the authors

Henry Engler is senior editor for Regulatory Intelligence Editor in New York. He comes to Thomson Reuters after a decade in the financial industry in which he has served in roles as an executive or managing consultant overseeing compliance-related and other projects. These include projects in Dodd-Frank swaps reporting requirements, TRACE reporting, data requirements, tax and accounting matters, AML systems and employee transaction monitoring. Firms he has worked for include IBM Global Business Services, Morgan Stanley, and RBS Capital Markets. Before these roles Henry is a trained economist and has served as a financial journalist and business strategy executive at Reuters. He has edited books on the European Monetary Union and the future of banking.

Table of contents (8 chapters)

  • Introduction

    Engler, Henry

    Pages 1-6

  • The Financial Crisis: The Culture Problem Emerges

    Engler, Henry

    Pages 7-36

  • Culture and Organizational Size

    Engler, Henry

    Pages 37-46

  • Global Regulators: Limits on What They Can Do

    Engler, Henry

    Pages 47-58

  • Enforcing Culture: Criminally Based Compliance

    Engler, Henry

    Pages 59-65

Buy this book

eBook $29.99
price for USA in USD (gross)
  • ISBN 978-3-030-02086-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $37.99
price for USA in USD
  • ISBN 978-3-030-02085-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Loading...

Recommended for you

Loading...

Bibliographic Information

Bibliographic Information
Book Title
Remaking Culture on Wall Street
Book Subtitle
A Behavioral Science Approach for Building Trust from the Bottom Up
Authors
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-02086-6
DOI
10.1007/978-3-030-02086-6
Hardcover ISBN
978-3-030-02085-9
Edition Number
1
Number of Pages
VII, 101
Number of Illustrations
1 b/w illustrations, 1 illustrations in colour
Topics