Resources

Following the Rules | Behavioural risk experts Dr. Wieke Scholten and David Grosse outline where the banking sector and it’s regulators are going wrong in their approach to managing behavioural risk.

https://followingtherules.podbean.com/e/behavioural-risk-expertsdr-wiekescholten-and-david-grosseoutline-wherethe-banking-sector-and-its-regulators-are-going-wrong-in-their-approach-tomanag/

The New York Federal Reserve | Bank Notes: Banking Culture Reform – Norms, Mindsets and Decision Making. David Grosse discusses Understanding Behaviours in Context.

https://www.youtube.com/watch?v=_zjuHWI6KIU

The ACCA | Risk Culture: The imperative of investing in behavioural insights. David Grosse and Sandro Boeri discuss incorporating behavioural insights into corporate strategy and risk management.

https://podcasts.apple.com/nz/podcast/risk-culture-the-imperative-of-investing-in/id1351382322?i=1000658716957

Embracing Differences | Words create and divide worldviews: Comparing metaphors in banking and maritime with Nippin Anand and David Grosse

https://www.youtube.com/watch?v=9iRhToBdc18

Journal of Risk Management in Financial Institutions | Dear CRO: Behavioural risk management is the new thing for you.

Wieke Scholten, Alexandra Chesterfield [2024]

https://hstalks.com/article/8788/dear-cro-behavioural-risk-management-is-the-new-th/?business

Thomson Reuters | Banks elevate behavioural science from risk control to strategic asset.

Kate Coombs, Alexandra Chesterfield [3rd March 2025]

https://regintel-content.thomsonreuters.com/document/I0C5E26D0F42C11EF95E29C389FCFEBBD/ANALYSIS:-Banks-elevate-behavioural-science-from-risk-control-to-strategic-asset-03-03-2025

Reuters | ING’s behavioural risk team seeks to uncover ‘invisible drivers’ of risky behaviour.

Henry Engler[10th January 2020]

https://www.reuters.com/article/bc-finreg-ing-interview-behavioral-risk-idUSKBN1Z91NW/

Harvard Business Review | A Better Approach to Avoiding Misconduct

Wieke Scholten, Femke de Vries and Tijs Besieux [May 2022]

https://hbr.org/2022/05/a-better-approach-to-avoiding-misconduct

Harvard Business Review | How Banks Are Using Behavioural Science to Prevent Scandals.

Henry Engler and Anna Wood - (28th April 2020)

https://hbr.org/2020/04/how-banks-are-using-behavioral-science-to-prevent-scandals

Journal of Financial Regulation and Compliance | Bad apples or corrupting barrels? Preventing traders’ misconduct

Wieke Scholten, Naomi Ellemers [14th November 2016]

https://www.emerald.com/insight/content/doi/10.1108/jfrc-06-2016-0051/full/html

Journal of Financial Regulation and Compliance | Crossing the lines a human approach to improving the effectiveness of the three lines model in practice

Morgan Fenelon, Juliette van Doorn, Wieke Scholten [18th November 2014]

https://www.emerald.com/insight/content/doi/10.1108/jfrc-09-2023-0150/full/html

Risk.net | How is risk culture conceptualized in organizations? The pan-industry risk culture (PIRC) model

Roger Noon [16th August 2024]

https://www.risk.net/journal-of-operational-risk/7959839/how-is-risk-culture-conceptualized-in-organizations-the-pan-industry-risk-culture-pirc-model

Bloomberg | Fed is rethinking how it supervises banks. One option: hire behavioural scientists

Katanga Johnson, Jonelle Marte [20th June 2023]

https://www.bloomberg.com/news/articles/2023-06-20/fed-ponders-hiring-behavioral-scientists-to-sharpen-oversight?leadSource=uverify%20wall

Behavioral Science & Policy | Bridging the divide between the potential & practice of behavioral science in the private sector

Scott Young [26th July 2024]

https://journals.sagepub.com/doi/10.1177/23794607241263414

A selection of books that give insight on the application of behavioural science into Financial Services firms and more widely.

Banking on team ethics : a team climate perspective on root causes of misconduct in financial services.

Wieke Scholten [2018 ]

https://scholarlypublications.universiteitleiden.nl/handle/1887/61392

Building Behavioural Science in an Organization

Khan, Z and L. Newman, Action Design Press [2021]

https://static1.squarespace.com/static/55e73c00e4b0cbb3aedcfe98/t/604efdb3a02885259042083b/1615789496772/Building+Behavioral+Science+in+an+Organization.pdf

Culture Audit in Financial Services - Reporting on Behaviour to Conduct Regulators.

Roger Miles [2021]

https://www.koganpage.com/accounting-finance-banking/culture-audit-in-financial-services-9781789667752

De Nederlandsche Bank – Supervision of Behaviour and Culture.

De Nederlandsche Bank [2021]

https://www.dnb.nl/media/1gmkp1vk/supervision-of-behaviour-and-culture_tcm46-380398-1.pdf

Humanizing Rules: Bringing Behavioural Science to Ethics and Compliance.

Christian Hunt [2023]

https://www.amazon.co.uk/Humanizing-Rules

The Behaviorally Informed Organization

Dilip Soman and Catherine Yeung [2021]

https://utppublishing.com/doi/book/10.3138/9781487507893

BS At Work - Why so much of modern work is bullshit and how behavioural science can make it better

James Healy [2025]

https://amzn.eu/d/a1XHcvV

A selection of podcasts that give insight on the wider application of behavioural science.

Behavioural Grooves

https://behavioralgrooves.com/

The Human Risk Podcast

https://www.humanriskpodcast.com/

Culture & Compliance Chronicles from Ropes & Gray

https://www.ropesgray.com/en/sites/rginsightslab/culture-compliance-chronicles-podcast

The Behavioral Design Podcast

https://creators.spotify.com/pod/profile/behavioral-design-podcast/

Better Way Podcast from CDE Advisors

https://www.cdeadvisors.com/betterwaypodcast

A selection of useful websites and contacts on behavioural science, behavioural risk and business ethics.

ACCA – Risk Culture in Banking

https://www.accaglobal.com/gb/en/professional-insights/risk/risk-banking.html

Alison Taylor

https://www.alisontaylor.co/higher-ground

Behavioural Scientist

https://behavioralscientist.org/

Bescy – a community aimed at promoting applied behavioural science

https://www.bescy.org/

BR Insights – a leading behavioural risk consultancy

https://br-insights.com/

Ethical Systems

https://www.ethicalsystems.org/

FORGOOD – a framework for the ethical application of Behavioural Science

https://www.forgoodframework.com/about

Human Risk

https://www.human-risk.com/

Institute of Business Ethics

https://www.ibe.org.uk/

Roger Miles

https://www.drrmiles.com/

Starling Insights

https://insights.starlingtrust.com/

Swarm Dynamics

https://swarmdynamics.ai

A selection of financial service regulators and industry bodies, and their focus on culture and behaviour:

APRA - Australia

https://www.apra.gov.au/transforming-risk-culture-observations-from-apra

CBI – Ireland

https://www.centralbank.ie/publication/behaviour-and-culture-report

ECB – Europe

https://www.bankingsupervision.europa.eu/press/pr/date/2024/html/ssm.pr240724~af95040adc.en.html

FCA – UK

https://www.fca.org.uk/firms/culture-and-governance

Federal Reserve Bank of New York - USA

https://www.newyorkfed.org/governance-and-culture-reform

FMSB – UK & Global

https://fmsb.com/

FSCB – UK (legacy website)

https://financialservicescultureboard.org.uk/

HKMA – Hong Kong

https://www.hkma.gov.hk/eng/key-functions/banking/banking-conduct-supervision/bank-culture/

IBCB – Ireland

https://www.irishbankingcultureboard.ie/

MAS – Singapore

https://www.mas.gov.sg/publications/monographs-or-information-paper/2020/information-paper-on-culture-and-conduct-practices-of-financial-institutions

OSFI – Canada

https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/regulatory-notice-culture-risk-management-letter