Using Behavioral Science to Achieve Ethical Excellence

Moderated by Domarina Oshana, PhD, the Center’s director of research and operations, the panel highlighted how financial services professionals can leverage behavioral science to foster a culture of ethical excellence. This webcast was provided with media partner InvestmentNews.

The panel brought together four leading experts:

• Azish Filabi, Associate Professor & Charles Lamont Post Chair of Business Ethics, The American College of Financial Services; Managing Director, the American College Center for Ethics in Financial Services  
• Katie Lawler, Executive Vice President and Global Chief Ethics Officer at U.S. Bank
• Todd Haugh, Associate Professor of Business Law and Ethics
  Arthur M. Weimer Faculty Fellow in Business Law; Director, Institute for Corporate Governance, Kelley School of Business, Indiana University
• Wieke Scholten, Founder, BR Insights B.V.

Key Discussions: Moving from Theory to Practice

The webcast commenced with an exploration of recent insights from behavioral science, emphasizing nudges towards ethical behaviors as subtle interventions that facilitate ethical decision-making while honoring individual autonomy. The discussion highlighted the importance of psychological safety in creating a workplace where employees feel safe to voice concerns.

A key point was the concept of "corrupted barrels," which shifts the focus from blaming individual "bad apples" for misconduct to recognizing systemic issues within organizations that may enable unethical behavior. This approach underscores the need to address cultural and structural weaknesses that could contribute to unethical practices.

The panel also explored the role of ethics education in financial services. Moving beyond compliance checklists, panelists advocated for integrating ethics into daily decisions. The Center for Ethics in Financial Services’ Trust Certificate Program was highlighted as an essential resource for professionals looking to build and restore trust. The Trust Certificate Program is designed to provide financial professionals with a deep and actionable understanding of trust and its underlying mechanisms. Participants will learn about the science of trust and how to apply various frameworks and models to real-life challenges.

The webcast concluded with an interactive Q&A, reinforcing the message that cultivating ethical behavior requires more than rules; it requires a deep understanding of human behavior, an ethical organizational culture, and committed leadership.

More from The College

• Learn more about the Center’s Trust Certificate Program.
• Access information on the Center’s research on trust's role in financial services.