What can learn from the study of Behavioural Science? Like many people in the field, I fell into BeSci long after finishing my academic studies. Back then, it wasn't an option that one could study in any case. But now you can, which is why I thought it would be interesting to get a forward-looking perspective from those that are. On this episode, I speak to Sarah Bowen & Merle Van Den Akker. They're both PhD students with a strong interest in Behavioural Science and they're the hosts of Questioning Behaviour, a BeSci podcast that explores things from the perspective of those studying and researching it. In addition, in her Money On The Mind blog, Merle explores the BeSci dynamics behind the financial decisions we make.Our discussion explores their thoughts on the study of BeSci and where things might go in future.Questioning Behaviour - https://questioningbehaviour.podbean.com/Money On The Mind - https://www.moneyonthemind.org/

What's the difference between Risk and Uncertainty? That's what my guest on this episode, Dr Colin Lawrence, helps me to explore. He's spent his entire career looking at risk and has been a Chief Risk Officer, Regulator, Risk Adviser and Academic. So he's got real experience of what it means to consider risk and manage it.In the episode, we explore what risk means in the context of COVID, water shortages, geopolitics, history and a number of social trends. Colin provides some fascinating insights that will stimulate your mind and get you thinking about risk in new ways. A common manifestation of Human Risk, is an inability to manage risk; the very things that get us into trouble, are the very things that make us bad at managing risk!You can find out more about Colin and get in touch with him via LinkedIn:https://www.linkedin.com/in/colin-lawrence-non-executive-director-board-advisor/or via email colin.lawrence[at]riskandfinancial.comDuring our discussion, Colin mentions a number of books:Professor Yuval Noah Harari - 'Lessons for the 21st Century'.https://uk.bookshop.org/books/21-lessons-for-the-21st-century/9781784708283Kim Stanley Robinson - 'The Ministry of the Future' https://uk.bookshop.org/books/the-ministry-for-the-future/9780356508832Robert Harris - 'Munich'https://uk.bookshop.org/books/munich-the-price-of-peace-may-be-too-high-to-bear/9781784751852He also highlights two articles:A New Yorker article on the water shortage in Cape Town:https://www.newyorker.com/science/elements/coming-to-terms-with-a-life-without-waterA NY Times article on the lawyer who set up her own law firm to allow her to fulfil her parenting obligations:https://www.nytimes.com/2015/05/03/business/a-woman-led-law-firm-that-lets-partners-be-parents.htmlAnd finally a podcast by Ezra Klein on Vox: https://www.vox.com/ezra-klein-show-podcast

What happens when employees have little or no respect for their organization's Compliance Program? It's obviously bad, but how bad? That's what my guest on this episode Professor David Hess has researched. And the answer is 'really bad'; far from it simply being a case of wasted money and effort, it actually increases the likelihood of unethical behaviour. How this happens, and what we can do to prevent it, is what we discuss in this episode. David also shares some of his perspectives on Compliance and how the function can be more effective in delivering its mandate.David Hess is a Professor of Business Law and Business Ethics at the Ross School of Business at the University of Michigan. His research focuses primarily on the role of the law in ensuring corporate accountability. His publications in this area have analyzed the use of non-financial reporting by corporations; efforts to combat corruption in international business; the link between corruption and business and human rights; and the role of compliance and ethics programs in creating more ethical corporate cultures. To find out more about David's research visit his website: http://webuser.bus.umich.edu/dwhess/You can read David's article Chipping Away at Compliance: How Compliance Programs Lose Legitimacy and its Impact on Unethical Behavior here: https://brooklynworks.brooklaw.edu/bjcfcl/vol14/iss1/4/

What can we learn from Behavioural Interventions that fail? That's what my guest on this episode, Dr Magda Osman set out to discover in some recent research. We often hear about 'nudges' that work well to change behaviour, but what about those that don't? Might things that haven't gone according to plan, actually prove to be useful?The answer is 'yes'. And that's what Magda and I set out to explore in our discussion. Her research ethos is to "take a critical eye to well-accepted views and challenge the status quo". As a result, her research interests cover a range of areas that include decision-making, learning, problem-solving, biases, risk and uncertainty, agency and control, and the unconscious.As well as her research, we also talk about Unconscious Bias training and explore other areas where behavioural interventions might not be as effective as we might expect.For a summary of the research I recommend this article: https://www.newscientist.com/article/2258396-what-can-we-learn-from-failed-attempts-to-change-peoples-behaviour/You'll find the research here: https://doi.org/10.1016/j.tics.2020.09.009For more on Magda and her research, visit her website: http://www.magdaosmanresearch.co.uk/

What can we learn from religion about ethics? After all, religions have had rules about what people should and shouldn't be doing since well before the advent of Compliance & Ethics functions. And they're also familiar with the fact that codified rules can lead to challenges when it comes to the letter vs the spirit fo the law.On this episode, my guest Rabbi Yonason Goldson, helps me explore this topic. Blending his knowledge of Scripture, with a fascinating life story, he brings fresh insight into how we can manage Ethics in the 21st Century. We may think we're living in unprecedented times, but previous generations have had to deal with similar issues; just in different contexts.What Yonasan has to say is insightful and thought-provoking.For more on him, visit his website: https://www.yonasongoldson.com/ where you'll also find details of his new book, Grappling With The Grey (https://www.yonasongoldson.com/books)

What are kleptocracies and how do they operate? How is dirty money laundered and why is it increasingly a global problem? These are the questions, my guest on this episode, Tom Burgis, sets out to answer in his book Kleptopia: How Dirty Money Is Conquering The World.Tom is an investigative journalist who writes for the Financial Times. In Kleptopia, he follows the trail left by a Compliance Officer, later turned regulator. What he discovers is an extraordinary tale of Human Risk, that impacts all of us. In our discussion, we explore how he came to explore the story and what lessons we can learn from it. If you work in Compliance, Regulation, Auditing or Law, you'll recognise some of the dynamics Tom is describing. Even if you don't, the impact of kleptocracy is significant for all of us.To see all the books recommended in this episode, including both of Tom's book, use these links to go to Bookshop.org. By buying from them, UK and US listeners can support their local independent bookshopUK Link - https://uk.bookshop.org/lists/kleptopia-podcast-recommendationsUS Link - https://bookshop.org/lists/kleptopia-podcast

How can we get people to be more honest? That's what my guest on this episode, Dr Benny Cheung, set out to discover. He was commissioned to do so research for the UK's Insurance Fraud Bureau and ran some experiments to see if it would be possible to reduce opportunistic fraud in insurance processes using Behavioural Science. The results suggest that it is.Given my personal experience with insurance hasn't always been positive, I thought this was worth exploring. So on this episode, I talk to Benny about his work and what we can learn from it. It's relevant to Human Risk, because if we can get people to change their behaviour when they're engaging with an industry they probably don't respect that much, then there are definitely lessons for Compliance, where the attitude may be somewhat similar. In our discussion, I explore what we can learn from Benny's research and the other insights he's gleaned in his work.For more on Benny and his company DecTech, visit https://www.dectech.co.uk/You can read about his experiment here: https://dectech.co.uk/insurance-fraud-prevention/In our conversation, we talk about Lemonade, an insurer that has a behaviourally-centric business model: www.lemonade.com

What is prejudice, why does it exist and why is it such a bad thing? That's what Economist Paul Donovan seeks to answer in his new book Profit & Prejudice. He explores it from an economic perspective, but prejudice is just as bad from a Human Risk perspective. Which is why he's the perfect guest for the Human Risk podcast.In our discussion, Paul explains how he came to write what is a fascinating and highly readable book. He highlights why prejudice exists, why it is so pernicious and what he has learned from the experience of writing the book. If you've heard Paul speak before, you'll know you're in for a treat. If you haven't, rest assured he's insightful and entertaining.For more on Profit & Prejudice visit the publishers' website: https://www.routledge.com/Profit-and-Prejudice-The-Luddites-of-the-Fourth-Industrial-Revolution/Donovan/p/book/9780367566777 Listeners who use the code HR25 will get 25% off the price.You can also find Paul on Twitter at @PDonovan_econ (https://twitter.com/PDonovan_econ)

Why is it so hard for us to admit mistakes? That's what my guest Stefan Gaillard & I explore in this episode. Stefan is the Editor of The Journal of Trial & Error, a project that seeks to promote the discussion of mistakes. Unlike traditional publications, The Journal actively seeks out things that have gone wrong is academic research, with the aim of learning from it. If we want to have innovation, we need to accept trial and error. What Stefan and his colleagues have identified is that errors are more commonplace than we might think and yet we don't want to talk about them. During our discussion, we explore the genesis of the Journal and his experiences in attempting to publish things that aren't normally published.It's a fascinating exploration fo a dynamic we all understand; the fact we're fallible and get things wrong. Yet we often don't want to talk about it. His experience is in academia, but it's highly relevant to all of us.For more on the Journal visit the website: https://www.jtrialerror.com/the-manifesto-for-trial-and-error-in-science/And if you're reading this before 30 November 2020, you can also join the launch party for the Journal here: https://bit.ly/36BvXa4

What can the military teach business? Much as companies often talk about 'wars' (most obviously when it comes to talent) and 'battles' (usually for market share), it's not obvious that the two have much in common. Yet, from personal experience, there are lots of former military personnel using the same skills they've developed in their early career, in their second career in business. As this Economist article highlights: https://www.economist.com/business/2020/10/24/what-the-armed-forces-can-teach-businessIn my ongoing quest to find interesting ideas in other contexts, I thought it would be a good idea to find out. So on this episode, I'm joined by two guests. One with a military background and one with a financial services background. Together, they provide some fascinating insights.My first guest, Stuart Tootal spent 20 years in the British Army, where he commanded a Parachute Regiment battalion, which formed the first UK battle group that was sent to southern Afghanistan in 2006.My second, Greg Davies, is a globally recognised expert in applied decision science, behavioural finance, and financial wellbeing, as well as a specialist in both the theory and practice of risk profiling. Together, they help me explore how military decision-making and processes can help reduce Human Risk. What they have in common, is something you'll have to listen to the show to find out. For more on Stuart visit - https://www.matero.co.uk/about/For more on Greg visit - https://oxfordrisk.com/about-us/greg-b-davies/During the show, I refer to other episodes of this podcast. You'll find them here:Rory Sutherland - https://www.podpage.com/the-human-risk-podcast/rory-sutherland-on-compliance/Matt Edwards - https://www.podpage.com/the-human-risk-podcast/matt-edwards-on-creative-risk-marketing/Jill McDevitt - https://www.podpage.com/the-human-risk-podcast/dr-jill-mcdevitt-on-sexology-condoms-masks/