The accusation of virtue signalling is typically understood as a serious charge. Those accused usually respond (if not by an admission of fault) by attempting to show that they are doing no such thing. In this paper, I argue that we ought to embrace the charge, rather than angrily reject it. I argue that this response can draw support from cognitive science, on the one hand, and from social epistemology on the other. I claim that we may appropriately concede that what we are doing is (inter alia) virtue signalling, because virtue signalling is morally appropriate. It neither expresses vices, nor is hypocritical, nor does it degrade the quality of public moral discourse. Signalling our commitment to norms is a central and justifiable function of moral discourse, and the same signals provide (higher-order) evidence that is appropriately taken into account
in forming moral beliefs.
You are an experienced business banker and been approached by an established small-to-medium business looking to move their business banking.
You are the CFO of a large retail property organisation that owns a number of shopping malls across the country. Given the sizeable food courts in each property, a larger portion of your tenants are small business owners operating eateries within the food courts.
As the head of a department in a large financial institution you have a strong relationship with a small boutique strategy agency (Agency X), who you have worked with for a number of years. You’ve always been happy with the quality of work and the consultants are experts in their field.
You work in recruitment for an organisation currently hiring. It is an organisation with strong purpose and values and they value meritocracy.
Until recently you’ve experienced high job satisfaction in your current workplace but you were recently overlooked for a promotion.
19 Aug 20
by
John Jeffery
Working in the fast-paced and dynamic world of international equities, many deals are traded on a daily basis. Behind the glamour and prestige of the trading desk, back office and middle office teams ensure that the settlement process – funds transferred, shares moved – runs smoothly. Its important work; if a trade fails to settle, the consequences can be loss of reputation, interest rate charges and even fines.
18 Aug 20
by
Ricky Rangra, 2020 BFSO Young Ambasasdor
What has the experience been like when it comes to starting a new role at a new organisation during the onset of COVID-19?
11 Aug 20
by
Pauline Vamos, Director, The Banking + Finance Oath
How can we embed an ethical culture in this changing world? Pauline Vamos, Director of The Banking and Financial Services Oath shares the why and ways to embed ethics into your business.
A small boutique wealth management company has been hammered by a slowing economy in the current climate. Revenue is down, cash flow is dwindling and lines of credit are nearly exhausted. The company is bleeding money, despite some government support. The founder and CEO is trying to ride out the storm, but the situation has deteriorated enough that they must do something to stop the financial haemorrhaging. The option that would reap the greatest savings for the struggling company is to lay of...
You’re a first-year analyst at an investment bank and happy to be working long hours to produce high quality work after having landed your dream job upon graduating from uni. You have the opportunity to work with one of the organisation’s most reputable senior bankers on a deal, and you're pleased when they compliment you on the presentation of your reports as well as your attention to detail.
In recent years, Social and Environmental sustainability has been at the forefront of conversation for governments and multinationals, particularly in Australia where extreme weather conditions, such as the bushfires and floods experienced earlier this year, have brought about deeper conversation on what businesses could be doing better.
A manager oversees a team of front facing customer service staff. She has been working hard to improve the level of respect shown by staff to customers. One team member continues to be consistently rude to customers, which he justifies on the basis that he sees more customers in a day than any other team member. Frustrated by the impact this is having on the morale of her team and their culture, and the ineffectiveness of her attempts to change the behaviour of this team member through on the ...
14 Jul 20
by
Jodi O'Callaghan, Executive Officer, The Banking and Financial Services Oath
The workplaces we return to will not be the ones we left. There will be strict policies on desk use, the maximum number of people in meeting rooms and common areas, and limited outings for coffee and lunch breaks. But I’m optimistic there are some things that will be strengthened within organisations – and this includes the focus on cultural diversity when it comes to organisational communication. There are some learnings too from the communications we've seen between the government and multi-cultural communities during the current health crisis.
Although efficiency is a value in so many organisations and an important part of delivery to customers, often we don’t see potential risks or mistakes until something goes wrong.
08 Jul 20
by
Jodi O'Callaghan
You've been part of a team working on a large and complex project. You have heard that a fairly major error has shown up as part of the financials for the project.
02 Jul 20
by
Cris Parker, Director, The Banking + Finance Oath, Head of The Ethics Alliance
The world is facing what could be the biggest recession since the Great Depression. That tiny Covid-19 virus kicked off a trail of personal and economic disaster, expected to snowball into an avalanche of business bankruptcy.
You’ve just started a new role at a large financial institution with a solid portfolio of business clients. You’ve been told that as bankers to large professional service firms, your organisation gives discounts to the partners of those firms for their personal lending facilities in recognition of the wider group relationship.
24 Jun 20
by
Cris Parker, Director, The BFSO + Head of The Ethics Alliance
There are some early claims that Generation Z women are smarter with money than their mothers and grandmothers have been. They will need to be.
24 Jun 20
by
By David Goldfeld, UBank + BFSO Young Ambassador
An initial meeting to assess the needs and values of a potential new customer turns in to a self-reflection exercise that sees you questioning your own values and where your duty lies.
When it comes to data collection, businesses emphasise speed, efficiency and simplicity. Automation of processes can enable the transformation of outdated, manual processes and make it easier and quicker to complete work every day. It can remove duplication of work and increase productivity to help us better do our jobs. It can help us to stay on track and notify us of something we may have forgotten. It can help us to grow and accelerate as a business.
There are, however, concerns over wh...
10 Jun 20
by
The Banking + Finance Oath
You are a Human Resources Business Partner to an IT team of 45 people in a large financial institution. The team is leading a high profile systems transformation that will take the business through a significant change in the way it deals with customers.
03 Jun 20
by
The Banking + Finance Oath
At a time when so many small to medium businesses are being pushed to the limit, is it possible to balance compassion with realism?
19 May 20
by
Suzanne Salter, Founder and Principal Coach, Leadership Nouveau
As the world economy will soon have to start rebuilding from ground zero, it’s a really good time to reflect and ask… what do we want this new edifice of life to look like? I hope that by sharing my story, I might help shape your answer to this very question.
19 May 20
by
Cris Parker, Director, The BFSO and Head of The Ethics Alliance
Emerging from the turbulence of COVID-19, we have the opportunity to escape the hold of our past and use moral imagination to explore a better future.
19 May 20
by
Bob McCarthy, Managing Director, Integrity Solutions
Just as the post-Hayne dust was settling, and before the financial services industry had time to catch its collective breath, a serious new challenge has emerged shining an even more dramatic spotlight on its role in a distrusting community – the wildfire spread of, and the global economic/societal response to, the Coronavirus.
11 May 20
by
Cris Parker, Director, The Banking + Finance Oath
Since the Covid-19 crisis hit, Australia’s financial institutions have had to divert a lot of resources and focus their efforts on addressing the challenges they face. They’ve also had to adapt quickly to accommodate their customer’s changing financial needs. But has their response to the pandemic been enough to rouse respect from the community they serve and rekindle a trust that has been lost?
27 Apr 20
by
Cris Parker, The Banking and Financial Services Oath
Compliance can’t be in every situation all of the time. Every decision can’t be monitored, nor should we want it to be. The purpose of The Banking and Financial Services Oath (The BFSO) is to encourage self-reflection and values-driven decision making.
There will still be situations where behaviour is not in line with the values of an organisation and it’s important to question when you see this. You just have to look at #ToiletPaperGate to see behaviour can be driven by self-interest, when the circumstances permit, whether we realise it or not.
The broader example of hoarding is an example of fear driving unthinking practice. The BFSO encourages individuals to ‘call out wrongdoing and support others who do the same’. However, situations will still arise, where organisations will rely on a whistle-blower speaking up. Bad behaviour still happens during a crisis.
We spoke to a whistle-blower from the financial services industry who explains why speaking up is as important as ever in these challenging times.
21 Apr 20
by
Cris Parker, Director, The BFSO and Head of The Ethics Alliance
A senior executive alarms his CEO when he starts making out-of-character decisions that reflect his personal fears. Teams are frozen into indecision as the ground continually shifts beneath them. Your days are punctuated with emotional meltdowns from people you have always relied upon in a crisis.
As exhausting as this sounds, it is currently all too familiar. These are some of the signs that the prolonged impact of Covid-19 is causing moral fatigue in the people around you.
25 Mar 20
by
Jodi O'Callaghan, Executive Officer
As people around the world grapple with this extremely challenging time, never has it been more important for individuals to pull together as citizens to make the greatest impact in the face of this unfolding COVID-19 crisis.
Social distancing by working from home means a disparate workforce and a completely new way of working for many of us. Technology is enabling the ‘show to go on’ thro...