bluuebunny/crossref_metadata_2025 huggingface dataset:
Debunking the securitisation myth: Understanding why the 2007 credit crunch happened
Authors: Wise Richard
Published: July 2024

If the core risk management mantra of financial institutions is ‘no surprises’ the unprecedented, broad-scale write-downs resulting from the 2007 credit crunch represent a systematic failure of institutional risk governance. The co-incidental backdrop to the crisis was: first, a hyperbolic US real estate market, and secondly, an abundance of international liquidity. Paradigmatic shifting technological innovation and financial engineering techniques provided the fission physics for the former to meet the latter in the form of a securitisation market. Securitisation is the banks' platform to on-sell loan risk to investors. In reality, the 2007 credit crunch was a consequence of bank risk originators retaining both explicit and implicit exposure to high octane risk. In the following discussion the author examines the various forms by which banks retained outsized exposures to the US sub-prime market which ultimately resulted in billions of dollars of surprises across financial institutions.
Addressing risk through best practice in Japan: Shortening settlement cycles and imposing fail charges
Authors: Mori Taketoshi
Published: July 2024

From 2002 to 2009, the Japanese securities settlement infrastructure and environment improved dramatically to realise delivery-vs-payment (DvP) settlement and dematerialisation of government bonds, commercial papers, corporate bonds, investment funds and even stocks. However, after the financial crisis, they recognised this improvement was still insufficient and that there was a significant need to improve the efficiency of the securities settlement system further and to enhance the risk control mechanism in order to reinforce the competitiveness of the financial and capital markets. Through feasibility studies and active discussion by market participants, the standard Japanese Government Bond (JGB) settlement cycle is scheduled to be shortened by one day to T+2 from 23rd April, 2012, and the fail charge system has been effective since 1st November, 2010, and has quickly penetrated the market. The study is continuing on T+1 settlement for outright trades. Both the shortened settlement cycle and the fail charge are expected to contribute to market stabilisation especially in irregular economic and/or market situations. The regulators of Japan FSA and Bank of Japan (BoJ) are positive and supportive of these initiatives.
A new era in corporate real estate outsourcing
Authors: Ehrenberg Maureen
Published: July 2024

An evolution is happening in the way businesses around the world manage their corporate facilities. A new ‘Outsourcing 4.0’ model has emerged, in which large client companies retain relatively small, or ‘thin’, in-house teams supplemented by one or more global service providers taking a strategic command of the execution, costs and interaction with the business. In this model, in-house teams and outsourced providers use sophisticated data and analytics technologies, best practices and benchmarking to streamline and standardise facilities management in a shared services-type approach to gain leverage, improve employee productivity and create a channel for employee experience initiatives. The need for more sophisticated business intelligence capabilities is furthering the outsourcing evolution, because CRE teams are looking to their outsourced service providers for sophisticated data-driven digital FM approaches to reducing costs, improving productivity, optimising space utilisation and developing workplace strategy. The increased productivity, pricing leverage, improved regulatory compliance and access to resources that Outsourcing 4.0 can deliver make the company’s portfolio more productive and its impact on business results more meaningful.
Non-traditional cyber adversaries: Combatting human trafficking through data science
Authors: Borrelli Danielle , Caltagirone Sherrie
Published: July 2024

Human trafficking is a complex and challenging global crime exacerbated by the use of technology. This paper begins by dicussing how traffickers utilise technology for scalability, anonymity and profitability as the Internet, social media platforms and encrypted messaging make the recruitment, exploitation and profit of an individual a low-risk, high-reward enterprise. It goes on to describe how counter-trafficking efforts are often siloed approaches, resulting in decentralised information and analysis on the size and scope of trafficking in persons. It presents resources and tools such as the human trafficking kill chain methodology and Artemis, a machine learning (ML) human trafficking risk classifier, show promising disruption tactics which may also be applied to other asymmetrical threats. Recommendations for centralised data collections methods, interagency collaboration and cybersecurity adjacent legislation are also made.
Automotive viewpoint: How dealerships can streamline GDPR compliance, while minimising data breach and supply chain risks
Authors: Steven Jim
Published: July 2024

In the new world of GDPR how can the Automotive industry take positive steps to manage, store and protect an individuals personally identifiable information (PII)? The reality is all organisations are facing the increased threat of a data breach incident and so need to take proactive steps to protect both the business and their customers. Protecting an individuals identity is of paramount importance and a responsibility all organisations should take to ensure they align to regulation, and more importantly put the individual at the heart of the business priorities. What are the crucial considerations and who should drive this cultural change through the dealership and their third party supply chain? Ultimately, understanding consumer sentiments on the topic of managing personal data and identifying the key components of a data breach readiness plan can support the organisation to maintain trust, but respond with confidence when a data breach incident happens.
Eliminating the negative impacts of the Basel IV output floor by adjusting a bank’s business model
Authors: Neisen Martin , Schulte-Mattler Hermann
Published: July 2024

The purpose of this paper is to show the interaction between the Basel IV output floor and business model management. Specifically, the paper analyses how banks can optimise the output floor by moderately adjusting the composition of their portfolio. The individual topics are explained based on simplified exemplary cases. The presented capital floor analysis may help a bank’s top management to allocate the available capital better, formulate a coherent internal risk appetite, including the cost of capital in their pricing models, and set explicit targets for key performance drivers directly linked to the desired shareholder returns. With a target business model in mind, our approach can therefore be used to determine target levels for the individual risk positions that contribute to the output floor. The paper presents a procedure for overall bank management, particularly for business model planning in the presence of the Basel IV floor. Managers, analysts and regulators can apply our approach to analyse the business model of an individual bank, as well as the output floor of the banking sector as a whole. To our knowledge, our paper is the first academic contribution on the impact of the new prudential floor approach on the banks’ business model.
Lime thermal plasters and energy efficiency in traditional buildings : Ancient materials combined to optimise building performance
Authors: Crosson Niall
Published: July 2024

Traditional buildings have a central role to play in Europe’s plans to be the first climate-neutral continent by 2050, with the building sector being the single largest energy consumer in the EU with 40 per cent of total energy use. Seventy-five per cent of the existing housing stock is energy inefficient with minute numbers renovated each year. Existing buildings offer huge potential for energy use reduction. Research has shown that a historic retrofit can emit less carbon compared to demolishment and rebuilding. Reductions in carbon emissions of up to 62 per cent were observed across a body of case studies by Historic England, including a 95 per cent reduction in the mews case study described in this paper. Moreover, carefully managed thermal retrofits, taking a ‘whole house approach’, have many benefits, including improved indoor comfort and air quality as well as reduced operational costs. These are factors which are fundamental in ensuring the continued use of historic constructions while improving their standards of preservation and durability. Thermally upgrading traditional building is still a much-debated topic. Inappropriate thermal interventions with unsuitable materials and finishes can have unforeseen consequences, resulting in building damage and a reduction in internal comfort, health and well-being. This paper aims to contribute to this discussion by providing an overview of key considerations when thermally upgrading the walls of traditional buildings while preserving unique characteristics and functionality. Advantages of adopting thermal mortars such as cork lime are put forward, and their potential efficacy is discussed, concluding with a case study focusing on the deep retrofit of a London mews within a conservation area.
Operation Crash and Surge: Lessons learned from a region-wide exercise
Authors: Hardie Kate , Kitchen Tim
Published: July 2024

The Homeland Security Exercise and Evaluation Program (HSEEP) provides base guidance for planning all levels of public safety exercises, from simple seminars to complex full-scale exercises. However, the recent emphasis placed on the Federal Emergency Response Agency Whole Community approach to emergency management involves broadening the spectrum of participants to include multiple community partners. The magnitude and complexity of these exercises necessitates the incorporation of additional planning strategies beyond HSEEP guidance. The objective of this paper is to offer insight on effectively planning, running and learning from a region-wide multi-agency, multi-discipline, full-scale exercise. This will be achieved by utilising a case study to outline the planning process and lessons learned from managing the interaction of components, with an emphasis on achieving common goals without compromising individual needs. Additionally, this article complements ‘Plane down in the city: Operation Crash and Surge’, written by Duane F. Kann and Thomas W. Draper, and published in Volume 7 Number 3 of this journal.
The value of brand trust
Authors: Mckinney Mark E. , Benson Amber
Published: July 2024

In the new era of marketing, the Relationship Era, dominated by highly-sceptical consumers who communicate displeasure quickly and broadly, brands must put a premium on creating trust with people. Real trust extends beyond simply keeping functional promises. Keeping promises results in high credibility, but real trust is based upon maintaining credibility and deepening two other factors: care and congruency. Developing this three-tiered trust gives the brand a more sustainable position with people, one that requires less marketing spend and results in greater loyalty. This paper defines these three trust-building factors, gives examples of how brands have used all three to create trust, and shows brands how certain mistakes are easy to recover from and how others are deadly. The paper also highlights the importance of brands staying true to their purposes and practising a transparent model of operation to reinforce authenticity and to cement sustainable, trust-based relationships with people.
Dispelling the myth of the easy button in reporting for prospect development
Authors: Lammey Bond T. , Schaefer Rachel A. , Walz Kimberly
Published: July 2024

Prospect development teams are often seen as integral leads or partners in the decision-making process when it comes to their organisation’s data. While some audiences may think that there is an ‘easy button’ that can be used to generate accurate and useful reports, the process is actually much more complex. This paper provides information and strategies that prospect development teams can utilise to both deliver and measure reporting solutions and their outcomes. Through a review of reporting basics, internal partnership dynamics and information to consider when determining how to measure these outcomes, the paper ties practical knowledge to an actual case study to demonstrate how each of these components must come together to successfully advance a reporting solution. Through the application of this knowledge, readers will be equipped to tackle their reporting projects with new and creative ideas, both in terms of their reports and their partnerships.
Advancing brand purpose: How Crayola elevates its long-standing mission to a compelling go-to-market strategy and an inspiring point of view on creativity as an essential life skill
Authors: Lozano Victoria
Published: July 2024

Founded in the early 1900s, Crayola was grounded in a deep sense of purpose and a fundamental belief that creativity is essential to each individual child and the collective potential of a nation. Discover how Crayola has re-sharpened its focus on the brand’s mission and translated that focus both internally to nurture its culture and externally to propel its go-to-market strategy. Learn about Crayola’s strategic framework and the multitude of ways that framework is translating into compelling products and collaborations, engaging experiences and impactful content that aims to further deepen consumers’ relationship with the brand. This paper describes Crayola’s point of view on creativity and its ambition to help drive a societal shift in understanding and appreciation of creativity as an essential life skill crucial to future potential.
Managing trade and communications surveillance in the new world of work
Authors: Li Yasmine
Published: July 2024

The COVID-19 pandemic has introduced changes in technology and the working environment which have ultimately changed the risk profile and risk manifestation within financial organisations. Alongside the ever-increasing conduct-focused regulations globally, surveillance has never been so important. As a control, surveillance frameworks and programmes must adapt to stay effective and relevant to the changing times. This paper describes the challenges and steps that can be taken to uplift surveillance practices in response to regulatory scrutiny, technology advancements and culture shifts as firms embrace hybrid and remote working set-ups.
Banks offer crypto: Why doesn’t yours?
Authors: Agnikhotram Sai , Jost Fritz , Kühne Simon
Published: July 2024

This paper shares the perspective of market practitioners who are enabling regulated digital assets services within an institutional context. The authors represent one of the world’s first banks that has a full, Swiss banking licence and that enables clients to buy, hold and sell cryptocurrencies within a fully regulated set-up. The paper first argues why recent market events indicate a strong demand for regulated digital asset services. More so, these events prove that banks are best positioned to offer them in the close future. This work further explains the unique challenges and opportunities in enabling such an offering within a bank. Finally, the authors highlight a set of product criteria and value drivers that allow for a winning digital asset product offering.
Cross-border payments systems: Regulation, innovation and the impact of new entrants
Authors: Broom Dominic
Published: July 2024

The global payments landscape is undergoing a radical transformation thanks to the combined impact of fast-changing technology, the ever-growing presence of non-banks, evolving client expectations, increasing regulation and shifting global demographics. In fact, the payments space is changing faster than ever before. If banks are not just to survive, but thrive in this new world of payments, they must ensure that they respond quickly and effectively with recalibrated holistic solutions that address the increasingly cross-border nature of client transactions. This paper investigates the key factors influencing the payments business and examines strategies that banks can adopt to ensure that they remain a driving force as the future of payments takes hold.
Leveraging conversational AI to better enable the customer journey: A practical guide to deploying chatbots at financial institutions
Authors: Maxim Benjamin
Published: July 2024

The global conversational artificial intelligence (AI) market size is projected to grow from US$6.8bn in 2021 to US$18.4bn by 2026, at a compound annual growth rate (CAGR) of 21.8 per cent during the forecast period. The major factors driving the growth of the conversational AI market are the increasing demand for AI-powered customer support services, omnichannel deployment and reduced chatbot development costs. This paper explores the practical application of leveraging the conversational AI market to advance customer service initiatives and enhance the customer journey.
Operational risk: A Basel II11 step before Basel III
Authors: Guégan Dominique , Hassani Bertrand K.
Published: July 2024

The Banking Committee on Banking Supervision recommended that operational risk should be quantified using the Basel matrix, which enables the sorting of risk incidents. This paper analyses these incidents in depth and suggests strategies for carrying out the supervisory guidelines proposed by the regulators, as follows. On the one hand, banks need to provide a univariate capital charge for each cell of the Basel matrix. That requires constructing loss distribution functions (LDFs), which implies estimating a frequency and a severity distribution. It is shown that the choice of the theoretical distributions to build the LDFs has a tremendous impact on the capital charges, especially if extreme losses are not taken into account. On the other hand, banks also need to provide a global capital charge corresponding to the whole matrix. The paper highlights that a lack of consideration or a poor appreciation of the dependence structure may lead to incorrect capital charges. Finally, the paper finds two crucial points that should be taken into account by regulators and risk managers: (1) The necessity of splitting information sets in two parts while adjusting the severity distribution: the first covering small and medium losses, and the latter containing extreme losses (this point implies problems of granularity as mentioned in the Basel II guidelines); (2) The choice of the risk measure, which provides the capital amount. The paper concludes that the expected shortfall measure enables a better anticipation of large operational risk incidents.
Payment outages: Experiences and issues
Authors: Khiaonarong Tanai , Rizaldy Ryan , Leinonen Harry
Published: July 2024

Major operational incidents in payment systems suggest the need to improve their resiliency. As payment infrastructures become more digital, integrated and interdependent, with users demanding real-time and uninterrupted services, a higher degree of resilience is required. Risks that could trigger major disruptions have become more acute given the rise in power outages, cyber incidents and natural disasters. International experiences suggest the need to strengthen (1) reliability objectives, (2) redundancies, (3) assessment of critical service providers, (4) endpoint security and (5) alternative arrangements. A comprehensive restructuring of resiliency plans — across the entire payment value chain — is also needed. This paper draws lessons from recent operational incidents to suggest ways in which operational risk management frameworks could be strengthened given evolving payment systems, increasing user expectations, developing technologies and varying country circumstances. The objective is to share observations from international experiences and explore operational and developmental issues to facilitating the stronger operational resilience of existing and future payment systems.
‘On-demanding’: 12 social media trends that are opening up new opportunities for advertisers
Authors: Taylor Kieley
Published: July 2024

In the world of social media marketing, advertisers face unprecedented opportunities and challenges. For this reason, they must understand current trends in social media. This paper describes 12 social media trends to inform advertisers looking to reach not only the most desirable consumer demographics, but how to reach them where they live: on the most popular social platforms and the mobile devices used to access them.
Impact of COVID-19 on the textile, apparel and fashion manufacturing industry supply chain : Case study on a ready-made garment manufacturing industry
Authors: Chakraborty Samit , Biswas Manik Chandra
Published: July 2024

Over the past few months, the world has witnessed how the COVID-19 pandemic disrupted the supply chain of the textile, apparel and fashion manufacturing (TAFM) industry in various unprecedented ways. As the global textile market is interconnected, this outbreak has a global impact due to travel restrictions and raw materials shortages. This study highlights the imminent impact of COVID-19 on the TAFM industry supply chain, focusing on root-cause analysis and statistical data on consumption of textile goods, both locally and globally. There has not been any academic research on TAFM supply chain disruption. This paper has fulfilled this research gap. Our research is a two-fold study. The first part reviews the overall impact of the pandemic on the TAFM industry and conducts a text analysis on the statements collected from business reports, academic journals, market researchers’ opinions, manufacturers’ statements and business journals, in order to identify the most frequently used terms associated with supply chain disruption. The second part is a case study on a ready-made garment (RMG) industry in Bangladesh, which showed that the supply chain disruption due to COVID-19 would increase the production cost. This is alarming for garment manufacturers and exporters, as the worldwide apparel consumption is also projected to reduce during and after the pandemic. Lastly, this study forecasts the takeaways of the TAFM industry from this global pandemic and recommends a mathematical model to tackle any similar situation in future.
Improving payment system efficiency in India: Next steps
Authors: Balakrishnan Mahadevan
Published: July 2024

Efficiency in payment systems brings about many benefits for a country’s economy and its people. Many studies have indicated that a saving of 1 per cent of GDP is possible by improving payment system efficiency and moving physical payments to electronic payments. In India, this represents a huge opportunity. Many improvements have happened in India in terms of payment systems. Large value payments have comfortably moved to Real Time Gross Settlement. In the retail payment area, however, physical payments are still predominant — although all retail electronic payment options, such as NEFT, ECS, credit and debit cards, are growing. India needs to focus on reducing the volume of physical cheques and increasing electronic payments to achieve greater payment system efficiency. This paper is an attempt to study the payment use statistics of 2003–04 to 2008–09, analyse the trend and suggest a few approaches to improve the efficiency of Indian payment systems by reducing the use of cheques and increasing the use of electronic payment systems. Innovation, convenience, strong legal systems and incentives are the significant factors in improving efficiency. A few suggestions in those areas — including bringing in more than 155,000 branches of India Post and over 168,000 branches of cooperative credit institutions across India within the payment system framework, and accelerated adoption of mobile banking — are provided.
Investment, global capital and other drivers of England’s housing crisis
Authors: Gallent Nick
Published: July 2024

The popular diagnosis of the ‘housing crisis’ afflicting England, particularly in London and the South East, is of acute housing under-supply. Not enough new homes are being built, and the scarcity of housing where it is needed is driving up prices, resulting in widespread unaffordability and all the socio-economic challenges that follow. All the main political parties have committed to programmes of accelerated housebuilding, highlighting ways to sidestep the sluggish planning system and build consensus for rapid development. An opposing diagnosis of the crisis has emerged in recent years, however, claiming that available housing space in England is now double, per capita, what it was 100 years ago. England’s — and London’s — housing problems are rooted in unequal distribution, and not simply in the under-supply of new homes. Inequality in access to the housing resource results from an increased reliance on market allocation and a rising tide of domestic and international investment, concentrated in the London property market, but which causes price distortions to ripple outwards. This paper argues that, although data are scarce and contested, with regard to investment buying, the asset value attached to housing is a key market driver, which cannot be addressed solely through additional housing supply.
Moving towards inferential attribution modelling in a world without third-party cookies
Authors: Kamena Roger
Published: July 2024

With the gradual disappearance of third-party cookies and Identifier for Advertisers (IDFA) tracking, marketers are becoming more restricted in their capacity to measure the performance of their marketing initiatives. Standard attribution models are currently based on user-level data to establish a one-to-one relationship between customer interactions and conversion goals. However, with user-level data about to become more difficult to access, marketers will need to embrace alternative ways to measure the effectiveness of their marketing efforts. This paper proposes inferential attribution modelling techniques as a potential alternative or complementary approach to user-level attribution techniques, and revisits older marketing techniques, such as media mix models, to address the upcoming changes in the marketing data ecosystem.
Airport attacks: The critical role airports can play in combatting terrorism
Authors: Duchesneau Jacques , Langlois Maxime
Published: July 2024

This paper uses a unique database of aviation terrorist attacks to analyse the phenomenon of airport attacks. The evolution of aviation terrorism is described with a particular focus on airport attacks, using empirical and historical data to form a factual baseline for historical analysis and policy recommendations. The authors make a distinction between acts of unlawful interference, the all-encompassing term the International Civil Aviation Organization uses, and actual terrorist attacks against civil aviation. While statistics demonstrate that airport attacks have been perpetrated steadily since the 1970s, with no major fluctuations in recent years, they also demonstrate that airport attacks may have the potential to become more lethal than ever before. Analyses and guidance are also provided on how to better protect airports, suggesting that the hardening of aircraft as targets has actually transferred considerable security risk to airports. To effectively secure the air transportation system, a three-pronged approach to aviation security is proposed, transcending airport security and reaching far beyond aviation in its scope.
Beyond the lease: True partnerships between airports and concessionaires
Authors: Regnier Pady
Published: July 2024

Airports and concession operators are naturally aligned in their mutual goal to provide great customer service that drives passengers’ traffic and higher revenue. Airports must lead this effort with concessions and other operational stakeholders to initiate measurable programmes. Mutual focus on engaging passengers with memorable experiences, along with a strong sense of place is associated with increased sales and airport traffic. To increase non-aeronautical revenue, one must create happy passengers — and that is in everyone’s interest. Innovative programmes such as CSAC (Customer Service Action Committee) at Minneapolis Saint Paul International Airport (MSP) and the Premium Value Program at Denver International Airport (DEN) are two best practices that strengthen relationships and deliver results. Key ingredients for success include creating programmes that build relationships within an airport, defined programmes, firm scheduled meetings, measured results, identify stakeholder problem solving, and always celebrating success. Programmes that identify barriers such as airport ‘hassle factor’ for employees and passengers, individual labour markets issues and operational challenges are also fostered when disparate airport teams come together. Airport management alone can bring the various stakeholders together to support and drive customer service excellence and communication within an environment of cooperation. These programmes build strong airports.
Infrastructure readiness for swaps clearing
Authors: Herskovitz Mike
Published: July 2024

Moving to a cleared swap environment required taking a ‘learning by doing’ approach, which adds particular challenges to asset management firms that must operate as a client fiduciary and not take undue operational risk. Waiting until all the requirements were clear, however, presented a different set of risks. AllianceBernstein began their programme in early 2012 and took an incremental approach to the challenge. By beginning with test trades and investigating how to make sure all the pieces needed to be connected, the company felt comfortable putting on some small live trades and then building towards a more industrial-strength approach. Now it is necessary to move to the next phase of complexity, moving beyond the simple capability of handling cleared trades and towards greater optimisation of portfolio management and margin management.
Strengthening tsunami maritime response and mitigation through inclusive stakeholder engagement: Lessons learned in Washington State
Authors: Tappero Elyssa , Disabatino Danté
Published: July 2024

Among the most vulnerable facilities to tsunami impacts are ports, harbours and marinas. The ability of maritime infrastructure to withstand a disaster and resume operations quickly plays a major factor in the recovery of the local community and economy in the short and long term. Despite this, little established guidance exists to assist the maritime community with addressing their tsunami risk in an actionable, site-specific manner. To close this gap and improve the resilience of its maritime community, Washington State has begun developing tsunami maritime response and mitigation strategies for major ports, harbours and marinas along its 3,200 miles of coastline. These strategies include detailed information about the location’s specific tsunami risk, recommended guidance for vessel operators in the area, and tsunami mitigation and response recommendations ranked by their implementation feasibility for the maritime entity in question. Most importantly, the strategies are created through close collaboration with local key stakeholders, subject matter experts, local emergency management and state agencies to ensure a final deliverable that is accurate, thorough and, above all, useful to the local maritime entity and its tenants and users. As this paper will discuss, the lessons learned during the planning and delivery of these strategies provide valuable insight for professionals in the maritime, business continuity and emergency management fields, including how to conduct effective and inclusive stakeholder engagement, identify gaps and opportunities in resilience planning, and establish a deeper understanding of tsunami maritime risk and hazards.
Defining payments systems of the future: Challenges and reality
Authors: Mackman Bob , Sanders Richard
Published: July 2024

This paper sets out to define the payments system of the future, providing insight into how a payments hub concept will help to overcome some of the challenges currently facing the payments industry, as well as enabling banks to generate further revenue. The paper puts forward the argument for a new type of payments model which blends products and blurs the distinction between high and low value, and between domestic and international payments: payments hubs. The reader will gain a high level of understanding of how a hub architecture can be introduced and the advantages of implementing a standardised operating model which covers multiple payment types.
A path towards enhancing cross-border payments: Breaking down the realities
Authors: Barclay James , Tagai Masayuki
Published: July 2024

If the future of payments, as envisaged by the Financial Stability Board, is to be delivered, it will require industry and regulatory investment. Improvements will be incremental and slow in adoption unless a number of significant challenges outside pure technical capabilities are addressed. These challenges are a result of diverse national legal and regulatory regimes; varying standards and practices in financial messaging; the different channels for reaching end users; the difficulty of interlinking multiple retail payment systems; data management and storage constraints; supplier and network oversight; and, not insignificantly, clarity on the business case for change, when revenue for payments is on the wane. This paper evaluates the importance and implications of managing these challenges in a way that does not increase the levels of risk in payment processes and, most importantly, does not impede the ability of the authorities to manage financial stability. It proposes the selection of a few key corridors with high volumes of worker remittances and the development of path-finding market practices as a prelude to agreed global standards. Finally, the paper concludes with a few ideas on what cross-border payments could look like by 2030.
Sustainable sourcing to innovate a private brand
Authors: Neitzel Janice
Published: July 2024

To encourage private brands to undertake sustainable sourcing, this paper examines widely-held myths, risks, and business opportunities. This paper introduces the Crawl-Walk-Run approach and outlines actionable steps to take along the way. It is most important to establish one's team of private brand stewards and develop an approachable, believable and achievable private brand sustainable sourcing strategy. There are sustainable sourcing opportunities to address in areas such as packaging, supplier diversity, food waste, and supply chain animal welfare. One must develop sustainable sourcing strategies to give one's private brand products the ‘AND’ factor so customers feel they are getting more for their money. One must communicate one's efforts effectively to develop LOHAS (Lifestyle of Health and Sustainability) and millennial loyalty, and dollars to the value equation reflected in one's private brand sustainable sourcing strategy.
Case studies in rehabilitating dysfunctional but highly influential hospital employees: Diagnostics and tools for leaders
Authors: Baldi Cindi , Tumlin Geoffrey
Published: July 2024

Highly influential, but dysfunctional, employees are especially problematic in hospitals because the ubiquity of teamwork in hospitals enables poor attitudes and dysfunction to spread quickly, and because of the unusually high cost of errors and underperformance. In addition, medical providers often form durable bonds with patients and in their communities, which increases the consequences of sanctioning these influential, but underperforming, employees. Using hospital case studies, relevant empirical literature and practical knowledge from experience in multiple health care systems, the authors describe three types of dysfunctional, but influential, employees and detail what hospital leaders can do to reliably revitalise or safely remove them.
Tactical approaches to achieving net zero carbon buildings
Authors: Marino Andre
Published: July 2024

The built environment contributes 37 per cent of global CO2 emissions, with almost half of this coming from energy used in buildings. How can all buildings, both old and new, become more sustainable and achieve net zero status? It takes the right technology and solutions, but also a fundamental understanding of what carbon emissions are and what they mean for the built environment. This paper defines the types of carbon, explores the difference between net zero carbon and zero carbon, and breaks down specific steps on how to strategise, digitise and measure the decarbonisation of a building.
Moral suasion and legal enforcement in the reform of retail payments in Brazil
Authors: Lobo Breno Santana
Published: July 2024

The paper presents the actions and the regulatory policy tools used by Banco Central do Brasil (BCB, the central bank of Brazil) in its efforts to modernise the Brazilian retail payments system. The paper starts by showing how the lack of legal mandate has in the past restricted BCB’s actions, notably when the only regulatory tool available was moral suasion. In 2013, BCB was granted the legal mandate to act as the regulator and supervisor of payment schemes and institutions. Since then, BCB has been using its legal mandate as a complementary regulatory tool. Despite the room for improvements in the market structure and in the conduct of participants, BCB’s actions are successfully contributing to the evolution of retail payments. It is believed that the policies options available to BCB are sufficient to guide the market towards a more efficient and safer scenario.
AML/CFT and data privacy regulation: Achieving a peaceful co-existence
Authors: Bugeja Diane
Published: July 2024

The Fourth Anti-Money Laundering Directive (Directive (EU) 2015/849, 4AMLD), implemented as of 26th June, 2017, imposes new onerous obligations on those entities that are subject to this framework (‘obliged entities’) and which is likely to require a substantial investment in dedicated resources. The changes brought about by the 4AMLD cannot however be seen in isolation, but must be considered in the context of other important developments, including imminent revisions to the 4AMLD itself as well as the much awaited General Data Protection Regulation (Regulation (EU) 2016/679, GDPR) which came into force on the 25th May, 2018. At first glance, the obligations under the 4AMLD and those ushered in by the GDPR appear to be heading in different directions. The dual nature of personal data collected for customer due diligence (CDD) purposes means that this data is simultaneously governed by two regimes that set apparently conflicting obligations. On the one hand, anti-money laundering and countering of the financing of terrorism (AML/CFT) laws seek to protect the financial system from fraud, tax evasion, drug trafficking and criminal activity; on the other hand, data privacy laws purport to protect an individual’s identity and choices from government and privacy abuse. Yet, upon close consideration, there are a number of possible measures that obliged entities can take and that will allow them to bridge the gap between these two regimes. This paper exposes the divergences between the AML/CFT and data privacy frameworks while attempting to reconcile these seemingly incompatible requirements. For this purpose, this paper aims to advise the reader on what internal systems, controls and projects can be embarked on in order to ensure a seamless implementation which is not only legally compliant, but also makes sound business sense in the longer term.
The vicarious liability of employers for employees in the context of UK data protection law – WM Morrison Supermarkets plc v Various Claimants, 1st April, 2020
Authors: Hordern Victoria
Published: July 2024

This paper discusses the ruling concerning the judgment of the UK Supreme Court in an appeal brought by the supermarket retailer WM Morrison (Morrisons) against a claim brought by former and existing employees of Morrisons (the Claimants) due to the actions of a rogue Morrisons’ employee (Morrisons’ Employee). In the High Court, the judge (Mr Justice Langstaff) had determined that, although Morrisons was not primarily liable for the actions of the rogue employee, Morrisons was vicariously liable. Morrisons had appealed to the Court of Appeal who dismissed the appeal on 22nd October, 2018. Morrisons then appealed to the Supreme Court.
Making the link between building control and planning
Authors: Scott Ken
Published: July 2024

A depressed building industry needs help and assistance from the building control and planning process. The shrinking public sector purse, the Coalition Government's review of both the building control and planning systems, systems being too ‘output’-focused, and the needs of the end user are drivers to change. Development management promotes pro-active planning, and should be at the hub of a framework supporting a shift towards the facilitation and encouragement of development. There must be closer contact with developers and wider business engagement, and there is a need for more clearly defined policies for developers. Change must happen, with openness and willingness on all sides, and crucially, with the support of central government.
Digital collection self-migration at Loyola Marymount University: Assessing platforms and managing implementation
Authors: Young Jessea , Gritz Steph
Published: July 2024

In 2017, the William H. Hannon Library at Loyola Marymount University (LMU) used a locally hosted licence of CONTENTdm for managing its digital collections. Then LMU was informed that CONTENTdm would no longer be supporting locally hosted instances of CONTENTdm. The Systems & Digital Initiatives (S&DI) department took this change as an opportunity to assess a range of digital asset management systems. After an initial assessment period and review of several product options S&DI decided to self-migrate the library’s content to Adam Matthew’s new platform, Quartex. This paper describes LMU’s assessment of digital asset management systems and the process of self-migration, and highlights the challenges associated with self-migration for early adopters of a platform.
Describing a visual universe: (Re)building consistent metadata standards for online photography collections
Authors: Mangiafico Paula Jeannet
Published: July 2024

Nowhere is the impact of visual culture more evident than in cultural heritage institutions. Images in library, museum, and archival collections are drawing increased attention from online and onsite patrons. As a result, user requests for visual resources are also on the rise, putting added pressure on the staff whose job it is to identify, retrieve and reproduce these materials. This paper explores how Duke University’s David M. Rubenstein Rare Book &; Manuscript Library is enabling deeper and more efficient access to its highuse photography collections by rethinking its descriptive metadata practices for visual resources, an effort given shape during a project to improve access to the William Gedney photographs collection. Using standard metadata element sets, controlled vocabularies and limited free-text fields within a consistent structural framework, the library is generating descriptive data that can be reused locally and are interoperable with international schema and content standards, ensuring that its datasets remain viable as part of future developments in shared and linked data.
State department planning and real estate: We don't pick our markets either
Authors: Hicks Jay
Published: July 2024

This paper establishes the United States Department of State as a major corporate/international real-estate presence. It discusses the evolution of the Department's planning and real-estate activities since 1998 and the US embassy bombings in Dar es Salaam and Nairobi. Particular attention is dedicated to the Directorate of Planning and Real Estate (PRE) within the Department's Bureau of Overseas Building Operations and its programme-level planning for US$1.4bn in annual embassy and consulate con-struction and a multi-billion dollar maintenance budget. Numerous examples are provided of how PRE is committed to constant self-examination, improvement, and adopting industry and government best practices. Finally, the paper highlights experiences and lessons learned from recent transactions from around the world and answers the question of whether international real estate is materially different from domestic real es-tate. The author hopes readers will come away confident in the federal government providing sound stew-ardship of the United States’ large and valuable international real-estate portfolio.
Mass digitisation systems and open source software: A viable combination?
Authors: Marchand Etienne , Leny Marc
Published: July 2024

This paper describes how the Institut National de l’Audiovisuel (INA, curator of the French public radio and television archives) and Ektacom (developer of video solutions) built a sustainable and efficient video digitising system for transferring the remaining of INA’s collection, using an open-source encoding solution. It details the challenges encountered and how they were overcome. It features a comparison of the different digitising systems that have been used at the INA. Finally, this paper assesses the benefits and the drawbacks of the choices that were made, in terms of cost, efficiency, reliability, sustainability and flexibility.
Incident investigations: Directing a positive approach with ‘just culture’
Authors: Cameron Shona
Published: July 2024

This paper deals with how an Australian aviation and transport facility management company manages the implementation of its national Health, Safety, Environmental and Quality (HSEQ) plan and strategic risk programme. It looks at the best practice approaches to improving the lost time injury and total recordable case frequency safety statistics. It shows how executives should be trained in change management through the ‘leading change’ framework and strengthening relationships and accountability at a senior level. This paper also has implications for how HSE legislation changes and legislative activity impact business operations. It was presented at the Australian Airports Conference at the Brisbane Convention Centre, Australia, in November 2018.
Implementing a safe business travel policy at Aegis
Authors: Beale Ian
Published: July 2024

This paper describes the creation, implementation and evolution of a business travel policy in a London-based firm with 13,500 employees, a substantial number of which travel on short business trips. The group contains a wide variety of businesses of varying size, complexity and longevity, and local operations have considerable operational autonomy. The company has a duty of care to staff and needed to provide appropriate guidance and support to business travellers. With this background a business travel policy was developed and published as part of the global policy manual. A survey was also carried out to better understand the traveller profile, travel patterns and understanding of the travel policy, as well as use of emergency travel and medical insurance. The information from the survey was discussed and led to a revision of the policy.
Narration in digital archiving: Functional design in FINA’s media asset management digital catalogue
Authors: Kaliszewska Joanna
Published: July 2024

Building an efficient media asset management (MAM) database requires not only effective tools and multi-dimensional metadata structures, but also detailed analysis of the unique characteristics of audiovisual collections. Finding the narrative inside preserved data may be the key to achieving better perspective during the user experience design process. This paper describes the measurements required for successful user-based design and discusses the importance of assigning the ‘nodal points’ during the construction of data structures. It also includes a detailed description of the experiences gained during the redevelopment of FINA’s MAM database.