Quinlan's CEO Says Bad Behavior Destroyed Bank Profits

The video discusses the financial costs incurred by banks post-GFC, highlighting a total of $850 billion due to employee misconduct, fines, and compliance spending. It emphasizes the cultural weaknesses in banks, such as lack of accountability and ineffective regulation. An analogy with German road safety is used to illustrate the importance of culture and training. The video concludes with challenges in current bank training methods, which often lack engagement and accountability.

What is the total estimated cost of employee misconduct to financial institutions?

• $172 billion

• $300 billion

• $850 billion

• $400 billion

What is identified as a fundamental weakness in banks leading to financial losses?

• Poor customer service

• Insufficient capital

• Weak risk culture and values

• Lack of technology

How does the analogy with German road safety relate to bank compliance?

• It highlights the role of training and culture.

• It shows the importance of strict penalties.

• It emphasizes the need for more regulations.

• It suggests reducing compliance costs.

What is a major critique of current compliance training in banks?

• It is too expensive.

• It is not engaging enough.

• It lacks involvement from business heads.

• It is too time-consuming.

What is a common perception of the compliance team within banks?

• They are seen as innovators.

• They are considered risk-takers.

• They are viewed as the 'no' team.

• They are regarded as customer-focused.