From Caveat Emptor to Caveat Venditor: It's a People Thing!
Thought Leadership Webinar: This webinar is a follow-up to the December 2, 2020 webinar, "Auditing Risk Culture through Human Factor Risk." Since 2008, the banking and financial sector has been expected to achieve rigorous levels of governance and fundamental change in its services and customer relationships. But the question has yet to be answered; have these professions got the breadth of vision, the dispositions, or the tools to deliver? Taking a pragmatic but optimistic view, in this webinar, PCL CEO, Geoff Trickey, brings together insights into the human challenges involved and the exciting possibilities made available through Risk Type psychometrics and digital technology.
Date:
January 20, 2021
Time:
10:00 - 11:00 a.m. EST
3:00 - 4:00 p.m. GMT
Presented By:
Geoff Trickey
CEO, Psychological Consultancy Ltd.
Session Length:
60 minutes
The 2008 financial crisis continues to be a catalyst in addressing matters of consumer protection and governance issues associated with the practices of Banks and other financial intermediaries. Following the establishment of new regulatory bodies in many countries, the debate has widened from its initial focus on the detail of financial product specification, to the ethics of marketing strategies and recognition of client risk appetite in portfolio selections. Alongside these detailed concerns has been a growing emphasis on the big picture: Risk Culture.
The practical difficulties associated with this approach arise from uncertainties concerning the definition of culture and, as a consequence, uncertainties about its mechanisms, its constituent parts, or its processes. It is difficult to know where the levers of culture change are and how it is possible to get to grips with a concept that is so abstract and nuanced.
Attempts to assess organizational culture have focused on remuneration, risk management business models, or on survey information from across the target population. In this webinar, we focus on the pragmatic approach to organizational culture advocated by the I/O psychologist Dr. Benjamin Schneider, whose numerous publications (most recently in 2006) have been cited in more than 6000 related articles. His approach is captured by the phrase “The People Make the Place”.
The contribution made by the personalities of different Risk Types to the risk culture of an organization is evident in their influence on decision making at every organizational level. The aggregation of these risk dispositions influences the performance of individuals, teams, departments and organizations as a whole. In this webinar, we introduce an approach that provides a digital proxy for Risk Culture; an on-screen graphic that can be examined and interrogated as a basis for risk management and detailed strategic planning.
In this webinar, we will cover:
1) The critical importance of Human Factor influence
2) The digital mapping of Risk Culture
3) Benjamin Schneider ‘The People make the place’
4) What we are mandated to achieve – from ‘Caveat emptor’ to ‘Caveat venditor’
5) True change or re-arranging deckchairs on the Titanic?
6) Range and variety of risk culture models
| About Our Experts |
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Geoff Trickey is CEO at Psychological Consultancy Ltd., a business that focuses exclusively on Occupational Psychology and psychometrics. Geoff has had an unusually varied professional career as a Chartered Psychologist - with wide international professional experience. He has been privileged to work with eminent and influential colleagues In Europe and in the US. Geoff’s interest in human risk was triggered by the chaotic variety and technical indifference of tests adopted by Financial Intermediaries in assessing the risk appetite of their clients; a bizarre parallel universe to an experienced psychometrician. Despite strong academic evidence linking personality to risk tolerance, no genuinely psychometric personality-based approaches had been adopted. This sparked the development of the Risk Type Compass tool based on decades of fascinating neuroscience and psychological research that distinguishes between objective ‘frequentist’ probabilistic measures of risk and the natural ’human factor’ risk dispositions that drive decision making and behavior.
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| Continued Risk Learning Credits: 1 |
PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].
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Price |
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Members (Sustaining, Corporate, RIM & Contributing)
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COMPLIMENTARY |
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Non Member |
$30 USD
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