Ethics and Learnings from Financial Disasters
Case Studies of Financial Crises, Reputational Risk, the GFC, and GARP Ethics
About This Course
Course Information
Ethics is a system of moral principles and is concerned with what is good for individuals and society and is also described as moral philosophy. In a financial crisis, asset prices see a steep decline in value, businesses and consumers are unable to pay their debts, and financial institutions experience liquidity shortages. A financial crisis may be limited to banks or spread throughout a single economy, the economy of a region, or economies worldwide.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 6 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- Examples of financial disasters (video)
- Examples of financial disasters (quiz)
- Reputational risk issues (video)
- Reputational risk issues (quiz)
- Global financial crisis – actions taken (video)
- Global financial crisis – actions taken (quiz)
- Background to the GFC (video)
- Background to the GFC (quiz)
- GARP code of conduct (video)
- GARP code of conduct (quiz)
What You Will Learn
- Describe the causes and risk management failures behind major financial disasters, including the S&L crisis, Lehman Brothers, Continental Illinois, and Northern Rock
- Explain how JP Morgan's London Whale trades exposed weaknesses in risk limit enforcement, model governance, and internal controls
- Identify the sequence of events leading to the 2008 Global Financial Crisis, from the dot-com bubble through subprime securitisation to the liquidity and solvency crises
- Describe the actions taken by the US Federal Reserve, European governments, and central banks to restore stability during and after the GFC
- Explain the three principles, professional standards, and rules of conduct in the GARP Code of Conduct
- Assess how failures in operational controls, such as Nick Leeson's dual trading and back-office role at Barings Bank, can lead to institutional collapse
Who This Course Is For
- Risk professionals who need to understand how governance and control failures contributed to real-world financial disasters
- Finance professionals preparing for FRM exams, particularly the ethics and professional standards section
- Compliance officers and internal auditors responsible for reputational risk and ethical conduct frameworks
- Banking professionals who want to learn from historical crises to improve current risk practices
Prerequisites
- General understanding of financial markets and institutions (banks, investment banks, insurance)
- No prior knowledge of the specific case studies or the GARP Code of Conduct is required
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