bluuebunny/crossref_metadata_2025 huggingface dataset:
Connecting the disaster dots: The benefits of enhanced collaboration between business continuity and risk management
Authors: Russo Frank
Published: July 2024

This paper serves as a guide to how disaster recovery costs after a loss can potentially be reimbursed through the insurance claim process, and highlights how disaster preparation and response are viewed through the lens of risk management and insurance claims recovery. Many organisations have both business continuity and risk management departments that, by and large, work independently. Following a significant business loss, however, such a siloed approach can leave many uncovered costs miscategorised as recoverable or, worse, completely miss an opportunity to recover claimable costs through the insurance claims recovery process. The implementation phase of business continuity processes and plans must include a component that considers how the mitigation spend will be potentially recovered or recouped through the insurance claims process. This key component should be analysed and described in coordination between business continuity and risk management. The goal of more continued cross-functional dialogue among business continuity and risk management professionals is the key to complete financial recovery and insurance claim reimbursement.
Recognising the contributions of alumni affiliate groups and volunteers: Penn State Alumni Association model
Authors: Gaus Charlene M.
Published: July 2024

Alumni associations across the country rely on volunteers every day to help achieve their missions. Alumni affiliate groups represent their university and their parent organisations outside the campuses, but how is it possible to recognise them for all that they do? It is important to understand why we need to acknowledge our affiliate groups and volunteer leaders. Once we understand how the pieces fit together we can establish our own recognition programmes. Benchmarking against successful programmes — such as the Penn State Alumni Association — is one way to help strengthen our own programmes.
Lessons learned from AQR: Essential elements of the model review process
Authors: Beinker Mark , Ivanov Yuri , Mainik Andreas , Ursachi Irina
Published: July 2024

This paper focuses on the steps performed during an external review of processes and methods related to the valuation of derivatives. The review covers the adequacy of the chosen models, and the models’ parameterisation and calibration, as well as implementation features, followed by a discussion of risk-mitigation and risk-monitoring techniques. We illustrate each step with practical examples. The purpose of such a review of derivative pricing models is to identify potential gaps in order to improve the existing modelling framework. The external review is not part of the regular model validation process, but relies largely on the available model validation documentation. Hence, the paper addresses primarily risk managers responsible for the embedding of the above-mentioned steps in the model validation documentation. Nevertheless, auditors and model reviewers might also be interested in the discussion of these review steps. Other organisational aspects (eg the allocation of responsibilities, escalation procedures, etc) are beyond the scope of this paper.
The curse of knowledge can damage awareness programmes: Here's how to defeat it
Authors: Tomlinson Kerry
Published: July 2024

Now, more than ever, cybersecurity professionals need their messages of security to reach the people who work for their organisations. But a phenomenon known as the ‘curse of knowledge’ may be standing in their way. This ‘curse’ – knowing so much about a subject that explaining it to beginners is difficult – plagues many human risk programmes, according to industry reports, and can actually damage programmes and negatively affect the credibility of those who run them. This paper shows how cybersecurity practitioners can overcome the curse of knowledge by examining its destructive path and identifying key steps to manage it. Techniques like removing certain terminology from cybersecurity messaging and tools like the De-Jargonizer can bring practitioners in line with their audience and lead to successful programmes and more security for organisations.
Effective airport project delivery, leadership and culture
Authors: Bolton Bob , Heller Jonathan
Published: July 2024

Deteriorating infrastructure at many US airports has prompted the need for major redevelopment projects across the country and the world. Industry leaders believe that failing to modernise our inventory of airports threatens to impede customer service and hinder economic growth. To meet the growing demand for rebuilding projects, the airport design/construction industry must find ways to be more efficient while cutting costs and retaining high quality. It also means that the way we assemble and lead project teams must also evolve. To optimise outcomes, airports must consider new project delivery methods beyond the traditional ‘design-bid-build’ model. For example, the design-build method has one contract for both design and construction, reducing risk to the owner. Another innovation is the public-private partnership, or P3. The P3 model is most commonly used to build infrastructure such as highways and transit. But in recent years, we are starting to see more airport P3s come online, as airports learn about the benefits of this delivery model. This paper posits that, no matter what project delivery method is used, the success or failure of a project often comes down to three questions: (1) Do you have a clear mission? (2) Do you have the right team? and (3) Is your team in alignment with your vision? Project delivery has been evolving to keep pace with the ever-changing built-environment and technological advancements. Airports learn from each other, and with every new project, we evolve to the next level.
Security screening process of passengers in Brazilian airports: Bivariate analysis of human errors and factors
Authors: Arcúrio Michelle Salgado Ferreira , Nakamura Eliane Shizuka , Pereira Rafael Rodrigues Dias , Armborst Talita , Fortes José Augusto Abreu Sá
Published: July 2024

The airport security processes, specifically those applied during passenger checkpoint security, suffer from a lack of studies on the identification, quantification, causes and impact of human error. This paper aims to examine the associations between various factors and human errors that can affect the operational environment of checkpoint security. In the bi-dimensional analysis, it was verified that there was a considerable association between some variables, which enables the authors to predict certain factors and human errors.
Monetary policy, financial stability and interest rate rules
Authors: Di Giorgio Giorgio , Rotondi Zeno
Published: July 2024

This paper investigates the empirical properties of simple interest rate rules that embed either ‘backward’ or ‘forward’ interest rate smoothing. Such interest rate rules can be rationalised as the operative reaction functions used by central banks pursuing monetary policy and financial stability targets. This paper considers the implications of banks’ risk management practices for monetary policy and derives interest rate rules by modelling the desire of the central bank to stabilise different definitions of the ‘basis’ risk as a contribution to financial stability.
Whole estate approaches to the retrofit of traditional buildings
Authors: Lloyd James
Published: July 2024

The UK has the oldest homes in Europe; 22 per cent of English homes were built before 1919.1 It is often said that older buildings are leaky, cold and inefficient but using modern materials and approaches on traditional buildings can actually decrease energy efficiency and cause severe damage over time. There is plenty of evidence that shows that traditional homes can be some of the most energy-efficient buildings when a knowledgeable and skilled approach is taken along with using compatible measures and traditional materials. Our everyday heritage must be valued in order to retain older buildings and protect our streetscapes for future generations. It is also important to find ways to reduce emissions and use less energy. To achieve both of these laudable objectives better ways to improve energy efficiency must be found, while avoiding damage to older buildings caused by installing inappropriate measures. The National Trust believes that a more considered approach to retrofitting will help reduce performance gaps, use less energy and bring affordable warmth to tenants while increasing people's appreciation of our everyday heritage. Led by good conservation practice and building physics, and guided by skilled practitioners, the National Trust takes a value-based approach to its retrofit. Using its 10-year, 5,000-property let estate programme to show what is possible, its aim is simple: to deliver high quality, affordable retrofit of traditional buildings, with good thermal performance in a way that is economically comparable to other modern retrofit approaches, and to inspire others to follow.
Beyond satisfaction: Connecting with customers to maximise business performance
Authors: Pingitore Gina , Williams-Dalgart Herb
Published: July 2024

In this slow growth/no growth business environment, many companies make the mistake of following three common myths about customer satisfaction: that merely satisfying customers is sufficient to garner improved business performance results; that tracking customer satisfaction scores will help improve performance; and that all that is needed to improve customer service results is a ‘silver bullet’. J.D. Power and Associates data indicate that companies must do far more than just keep their customers satisfied however — they must truly delight them if they are to achieve the kind of customer loyalty that leads to significant financial results. Additionally, they must do more than simply measure their customers’ satisfaction — they must create a customer-focused culture. Finally, companies must recognise that meaningful improvements in customer satisfaction are realised not by doing just one thing, but by a series of actions that are predictive of customer satisfaction improvements.
Airport-city development trend and strategy formulation using integrated analysis — The case of Taiwan
Authors: Hong Wan-Chung , Wu Wei-Li , Wang Kung-Jeng
Published: July 2024

Many airports have shifted from being simple transfer posts to global logistic transportation hubs and, more recently, to multifunctional airport cities. This study conducts an integrated analysis on airport-city development trends and strategy formulation. By using a grounded theory-based research procedure, it analyses and integrates the trends and successful key factors of airport-city development using the forum of focus groups and interviews with experts. Finally, the study conducts a competitive environment analysis to detect the advantages and disadvantages of Taiwan Taoyuan International Airport by SWOT analysis, and develops TOWS matrix to propose strategic suggestions. It has not only proposed a rigorous and systematic procedure of qualitative research for airport-city development but, from the opinions of experienced experts and industrial representatives, the outcomes of the study consolidate competitive advantages, key factors and strategies for airport-city development.
Whither in-store analytics: How in-store behavioural analytics has changed and where it is heading
Authors: Angel Gary
Published: July 2024

As organisations evolve, they want a more comprehensive view of customer behaviour. While digital channels are easily measured and have been studied extensively, for retailers with a physical presence, the store is somewhat of a black box: retailers know how many customers they have going in and what sales are coming out the other side, but what happens in between has long been a mystery. As this paper shows, however, improvements in both technology and analytics are shining fresh light on in-store activity. This paper describes recent advances in technology for monitoring in-store journeys and how such advances have enabled people-movement data to be used in more sophisticated ways, despite privacy limitations.
The science of governance: A blind spot of risk managers and corporate governance reform?
Authors: Turnbull Shann
Published: July 2024

This paper identifies the science of governance as a crucial blind spot for risk managers, company directors, regulators and law makers. There is little evidence that law-makers, corporate governance reformers or risk managers apply the science of governance identified 60 years ago. As a result, there are no accepted criteria for identifying or measuring good or higher standards of corporate governance or identifying its relevance for managing risk. This paper identifies why the current top-down approach to governance and risk management is incompatible with the bottom-up approach found in biota to manage risk so as to sustain life in highly complex uncertain environments. A bottom-up approach allows investors and stakeholders to become co-regulators of the risks to which they are exposed. As the mission of regulators is to protect citizens, citizen involvement as co-regulators richly increases the ability of risk managers, directors, firms and their regulators to minimise the risk exposure of firms, their stakeholders and/or the financial system. The paper identifies the need for risk managers, company directors, regulators and law makers to acquire knowledge of how to apply the science of governance to manage risk on the most efficient and effective sustainable basis.
The Nexus international payments platform: Is it business-model viable?
Authors: He Chusu , Milne Alistair , Zachariadis Markos
Published: July 2024

This paper examines the BIS Technology Hub's Nexus project. Nexus is a proof-of-concept for a messaging platform that supports near real-time international payments by linking together domestic ‘instant’ payment platforms. Two aspects of Nexus are distinguished: (1) the innovations in technology and messaging standards to support instant payment services internationally, deal with anti-money laundering and sanctions compliance, and support transparency of foreign exchange pricing and payments charges; and (2) its novel organisational architecture with two associated new business models for the execution of international payments. As the paper will discuss, it is unclear whether these new business models will be commercially viable. Likewise, the extent to which the improvement of international payments must be based on new operational architectures rather than the enhancement of existing correspondent banking-based arrangements remains uncertain. The paper therefore argues that these aspects should be developed separately, so that banks and payment services providers are free to use Nexus messaging in conjunction with their existing bilateral commercial and operational relationships to support the linkage of domestic instant payment platforms, as well as to use the Nexus platform itself, if and when it achieves a commercial launch.
Three keys to M-PESA’s success: Branding, channel management and pricing
Authors: Mas Ignacio , Ng’Weno Amolo
Published: July 2024

M-PESA, a mobile-phone-based electronic payments system, has been adopted by 8.5 million Kenyans in the relatively short span of three years. Surveys of users show it is a highly valued service, and Safaricom continues to expand the range of applications for which it can be used. This paper explores how Safaricom, the mobile operator that commercialises M-PESA, managed to create enough traction with both customers and retail stores, building trust and overcoming the adverse network effects that afflict new payments systems. The focus is on three key aspects of M-PESA’s success: (i) creating awareness and building trust through branding; (ii) creating a consistent user experience while building an extensive channel of retail agents offering cash in/cash out services; and (iii) a customer pricing and agent commission structure which focuses on key drivers of customer willingness to pay and incentivises early adoption.
Accretive intangible assets: Bridging the GAAP with CPAs
Authors: Gregory James R.
Published: July 2024

Internally grown intangible assets have risen significantly in stature and value in recent decades. Despite the undeniable growth, accountants and the standard setters who create the accounting rules refuse to recognise intangible assets on the balance sheet. These restrictions create a huge stumbling block for managers trying to run corporations for value creation. What makes certified public accountants (CPAs) so steadfast in their resistance to recognise or even provide guidance on how companies should manage the value of intangible assets? The first step towards understanding anything is to speak to the players involved — with that in mind, this survey attempts to bridge the generally accepted accounting principles (GAAP) with CPAs.
The point of purchase is wherever the consumer is, so what is the future for shopper marketing?
Authors: Hathaway Simon
Published: July 2024

How can retailers and brands offer the best possible customer experience in a shopping landscape increasingly fragmented by technology? Shopper marketing introduced the idea of influencing people by targeting communications to them as and when they shopped. But when traditional retail formats are no longer relevant to many consumers’ lives, how does one create a meaningful retail experience? This paper examines the challenges posed by the emergence of the ‘agile consumer’, and the impact on branding and selling when the point of purchase moves to wherever the shopper is. This pragmatic and informative paper describes the three main challenges in retail — datafication, relevance and experience — and the birth of a new discipline, namely retail experience. This paper provides practical ways for retailers in any sector to meet these challenges as opportunities, offering best-in-class examples of retailers engaging consumers who expect their shopping experience to be everywhere, instant and personal. It shares new research into how digital and mobile channels are transforming the way people shop. As well as detailing the new intertwined path to purchase, the paper offers practical ways for brands to communicate with their intended audience across disparate channels to create a supreme retail experience.
How modern working helped the city of Bristol unlock opportunities to repurpose challenging real estate
Authors: Billingham Richard , White Alison
Published: July 2024

The way we work has changed. The public sector is required to reduce costs and improve its delivery of services and respond to changing citizen demands. Under pressure to rationalise its real estate portfolio, the challenge is where to invest limited resources within constrained budgets and under public scrutiny, all in a risk-averse sector. Bristol City Council has reduced its office estate from 38 buildings to two; forced to retain the Grade 2* City Hall and with heritage constraints precluding remodelling, the council faced failing to deliver its business case objectives. A step change in design approach and commitment to adopting agile working transformed those constraints to the council’s advantage. Now with a flexible and adaptable portfolio, the council is well positioned to deliver its service redesign objectives, embrace future work style changes, support the wider public sector’s integration agenda and secure a sustainable income from its dramatically reduced estate.
A considered response to structural movement and damage to the interior of St Stephen’s Church, Westbourne Park, London W2
Authors: Johnston J. Sinclair
Published: July 2024

St Stephen’s Church, Westbourne Park, London had suffered extensive structural movement and cracking to the interior over a long period. The source of the problem was not sufficiently understood or adequately addressed by previous repairs in 1990. Careful observation, investigation and analysis concluded that the primary source of the problem was lateral spread of the roof trusses. This action, combined with the very thin mortar joints in the internal stonework, had led to spalling of the stone and horizontal cracks in the clerestory walls of the nave. Repairs were specified to address these issues, approval sought through the process of ecclesiastical exemption, and robust remedial and preventative works carried out. This paper seeks to explain the thinking behind the process of analysis, design and specification of these works, and (while acknowledging previous works) examines the problems starting from first principles. It is intended to give the reader guidance on the assessment of unusual or long-standing structural problems and the confidence, when necessary, to propose and execute what might otherwise be considered radical interventions in a historic public building.
A future of shared mobility
Authors: Santi Paolo , Ratti Carlo
Published: July 2024

Shared mobility is transforming the way we move around cities and is challenging consolidated transport modes such as the private car, taxi and public transit. While shared mobility has immense potential to improve the efficiency of personal transport and, hence, reduce emissions, this paper makes the case that shared mobility per se is not sufficient to achieve this important goal. Rather, shared mobility services should be designed and integrated with other transport modes having carbon emission reduction as an explicit optimisation goal. This observation prompts a call for the development of accurate models and analytical tools for the estimation of the city-level benefits of different forms of shared mobility, and of their integration. Examples of these tools are briefly reviewed and discussed in this paper.
Smart Contract Templates: Legal semantics and code validation
Authors: Clack Christopher D.
Published: July 2024

The Smart Contract Templates project supports legally enforceable smart contracts, using operational parameters to connect legal agreements to standardised code. The standardised code is derived from legal documentation and performs some or all of the provisions of that contract. For financial contracts such as derivatives agreements, the legal documentation may be extensive, and the standardised code to perform the contract may be substantial. An important issue is how to validate whether the smart contract code will correctly perform the provisions of the legal contract. This requires an understanding of the semantics of legal text and is an important step towards supporting industry adoption of legally enforceable high-value smart contracts.
How to be a truly digital bank
Authors: Maiya Rajashekara
Published: July 2024

Consumers today are experiencing accelerated digital lives, supported in particular by rapid internet penetration, increasing smartphone adoption and an ever expanding network of networks. In this atmosphere, banks face a fundamental challenge: how to sustain and grow their business in the face of increasing digital disruption and new customer demands. Research indicates, however, that close to 70 per cent of banks around the world do not have a systematic digital strategy. This article proposes that for banks to sustain and thrive, they will need to re-imagine banking and embrace a truly digital persona, a concept which is itself unclear to many. The article explores what exactly constitutes truly digital and proposes a roadmap for banks to achieve the same.
When artificial intelligence and video metadata collide: A learning curve
Authors: Milstein Mark
Published: July 2024

This article describes the development of a media asset management system supported by artificial intelligence that serves not just as a metadata hub, but also as a content discovery platform. The project sought to rewrite the way video metadata are applied to both digital video and immersive content; create a mobile and cloud-based platform that would support the application of this new metadata standard, as well as the search and discovery of assets embedded with in-frame, time-based metadata; build a proprietary artificial intelligence bot to generate this new metadata standard; deploy it internally, and bring it to market for third-party licensing — all in less than 24 months. This article discusses the setbacks and surprises encountered on this ultimately successful journey.
The obsession with green: Subconsciously increasing risk in third-party governance
Authors: Nguyen Don , Gilson William
Published: July 2024

The purpose of this paper is to argue that senior management is increasing risk as a direct result of risk mitigation actions. This report looks at governance and risk in the context of third-party governance and argues that boards and senior managers need to reevaluate their own understanding of risk before applying their culture to third party oversight. The paper examines the obsession with the colour green, which we believe is leading to passive oversight and a lack of operational and risk awareness. At such a point, perception becomes irrational and good (performance indicators that tell a story) is seen as bad and bad (weak green indicators) as good. This paper puts forward the suggestion that through better reporting and discussion, organisations can spend less time, have more understanding, reduce risk and give a better service to their clients.
Blending diverse expertise to optimise and sustain project outcomes
Authors: Kamath Janine R. , Barclay Jason E. , Baude Lydia A. , Ehman Jeffrey R. , O’Brien David M. , Williams Bradley E. , Khan Munawwar A. , Hanf Nicole K.
Published: July 2024

Strategic projects in large healthcare organisations are often highly complex and dynamic, and they require a team of skilled business professionals to execute them. Examples of difficult, costly and extended project executions have been shared in the literature. Successful project execution involves many critical facets. One facet that continues to be of marked interest is effective resourcing of strategic projects. This paper focuses on describing a staffing approach used at Mayo Clinic (Rochester, Minnesota) to facilitate successful, agile and sustainable execution, with desired outcomes. In 2016, Management Engineering & Consulting (ME&C) began exploring a collaborative staffing model that partnered management engineers with project managers (PMs) to drive strategic, multisite projects. This ongoing collaboration model was evaluated from multiple perspectives, including project outcomes, timeliness, client and staff satisfaction and opportunities for innovation. Data and feedback on the model were collected with historical reports, surveys and focus groups with stakeholders, leaders, PMs and management engineers. The feedback and data indicated that the collaborative staffing strategy and model have further optimised service delivery, enabled professional staff to work at the highest level of their competency and dynamically blended knowledge, expertise and skills to achieve better and more sustainable overall project outcomes.
Borderless banking: How banks can meet the challenges of regulation and payments commoditisation through increased cooperation
Authors: Isaac Tom
Published: July 2024

In Europe, the payments services offered by banks are going through a period of transition that affects both domestic and international services. This paper looks at the impact that these changes are having on current and future services, and the potential effects on the international banking industry as a whole. In particular, the paper considers the impact of increased regulation, notably SEPA, Basel II and MiFID. It looks at the interplay between the regulatory environment and the increased levels of globalisation in both the banking industry and its customer base, and examines the challenges presented by the increased commoditisation of homogenised, mass-process services and the need for greater investment in technology and other support services to meet corresponding changes in customer demand. The paper then examines the alternative methods for meeting these conflicting demands and the new environment in which banks now operate, and presents the view that significant, often radical, change is required in the way banks work with each other. It puts forward the idea that a model of ‘coopetition’ that requires a greater degree of interoperability and cooperation among previously competing institutions is required, and presents examples of where these models have already been successfully deployed. Finally, the paper offers the reader a critical assessment of the various forms that these collaborative relationships can consider adopting, including the correspondent model, partnerships, joint ventures, white labelling agreements, and shared infrastructure solutions.
Nexus between liquidity risk and credit risk: Evidence from the South Asian region
Authors: Khan Ajab , Yilmaz Mustafa K.
Published: July 2024

This study investigates the reciprocal relationship between liquidity risk and credit risk and their individual and joint impact on the stability of commercial banks in the South Asian countries, ie Pakistan, Bangladesh and India, from 2004 to 2016. The results reveal that liquidity risk and credit risk have a significantly positive reciprocal and economically meaningful relationship. Each risk type individually and jointly negatively affects banking stability. This impact has been more observable during the global financial crisis. The findings provide valuable insights for bank managers and regulatory authorities. Banks should be more concerned about mitigating their liquidity and credit risks by managing more qualified loan portfolios and investing in less risky liquid assets.
Service provider due diligence: An overview
Authors: Mcdonald Bart J.
Published: July 2024

This paper is meant to provide any compliance professional, regardless of their firm’s size or business model, with the information needed to create and implement a reasonable due diligence process within their firm’s compliance programme. You will learn the specific regulations that apply to your type of firm, why they are required and how they can be addressed. It all starts with a risk assessment process, which is explained in sufficient detail that any type of firm can implement one. Specific tools are discussed to help identify and document important risks that must be a part of any sound due diligence process. We look at the initial and ongoing due diligence process and responsibilities firms have and offer examples of meeting these requirements. Finally, we identify how the due diligence process should be memorialised, documented and tested within the compliance programme.
Visualisation: The last mile of analytics
Authors: Earley Seth
Published: July 2024

The last step in the analytics process is the presentation of results, but the way in which the results are visualised has a major impact on their usefulness. In order for the analyses to have a positive impact, they must be presented at the right level of detail and be tailored to the intended audience. Executives should be spared the burden of too much detail; for them, overall performance is the most useful perspective. Analytics can produce a bounty of actionable information for marketing departments, but many in that area are just beginning to move up the learning curve in using the tools and technologies effectively to answer the relevant questions. Whatever department is consuming the results of analytics, the focus should be on how the analyses can support data-driven decisions.
Lessons from Hurricane Ida: Addressing gaps in emergency preparedness planning to protect residents in independent living facilities
Authors: Donovan Jeanie , Mcinturff Meredith
Published: July 2024

This paper describes how Hurricane Ida exposed gaps in emergency preparedness planning and coordination in New Orleans, particularly related to the health and safety of the residents of multi-storey independent living facilities designated for seniors and persons with disabilities, where at least ten lives were lost due to the power outages and extreme heat that occurred following the storm. As this paper discusses, New Orleans Health Department leaders responded by taking swift policy action, working with the mayor, city council and community stakeholders to ensure better coordination, preparation and accountability for owners and operators of certain independent living facilities. The article recommends that states and localities with individuals living in independent living facilities should consider similar policy interventions as part of their disaster cycle planning activities.
The challenge of securing electric vehicle charger infrastructure
Authors: Caldwell Thomas
Published: July 2024

With the advent of clean energy and the transformation of internal combustion engines (ICE) to battery electrical vehicles (BEV), a new generation of electric vehicle (EV) charger infrastructure connected to the power grid has emerged. Along with any infrastructure comes the responsibility of cyber security. This paper explores the attack surface of EV charger infrastructure and the various dimensions of cyber protection. Large language models (LLMs) enable new technologies such as artificial intelligence (AI). It is the early days of cyberattacks on EV chargers; however, some early attacks have already occurred. Once a critical mass of EV chargers is achieved, cyberattacks pose a more significant potential threat to our power grid and our society.
How do boards address risk management and oversight?
Authors: Davies Brandon
Published: July 2024

This paper looks at the reporting that goes to the board and to regulators to inform them of the financial performance, balance sheet and risk profile of a bank. The paper concludes that a far greater degree of integration and coherence between the different reports is required to help the board execute its strategic responsibilities to shareholders and governance responsibilities to both shareholders and regulators. The paper also looks at a number of risk issues that pose challenges to bank boards with implications both for board composition and for the structure and remit of board committees.
Facebook and Pandora’s box: How using Big Data and Artificial Intelligence in advertising resulted in housing discrimination
Authors: Khatry Sarah
Published: July 2024

In 2019, the US Department of Housing and Development charged Facebook with violating the Fair Housing Act 1968. This followed an investigation into the use of ethnically targeted advertising practices on Facebook. To understand Facebook’s targeting methods and the cause of the problematic outcomes, this paper follows the journey of an advertisement through Facebook’s platform. In this way, Facebook’s regulatory missteps can serve as a case study to illustrate how Big Data analytics can, when informed by human and machine bias, cross the line into discriminatory practices. This case study underscores how it is vital — in advertising as in other industries — not to treat advanced analytics like artificial intelligence as black boxes. Indeed, to inform the design and use of advanced analytics, it is essential for companies to consistently develop a comprehensive understanding of their data, in addition to the legal and ethical implications of their operations.
Multinational corporations: To change or not to change? That is the question
Authors: Ma Arthur King
Published: July 2024

This paper argues that the adoption of local cultures and values is central to the success of multinational corporations entering into new markets. To support this position, it describes how by persisting with policies informed by experience in the US market rather than adapting to the local market, eBay failed to consolidate its presence in China. By contrast, KFC China has not only adapted to Chinese culture, but has diligently striven to know its customers, tailored its product to local communities and got to know its team well. It has created many new dishes by incorporating local flavours into its standard recipes and has reconfigured its kitchens and restaurants so that its chefs can cook greater varieties of food and patrons can visit with their friends and families for special occasions. Most importantly, after learning about the Chinese culture, KFC China enlisted local farmers and suppliers to supply the necessary food materials. This created a sense of belonging as well as localisation for KFC China and its customers, helping the local company to consistently exceed other KFC subsidiaries in terms of profit.
Using social media to improve customer engagement and promote products and services
Authors: Vanauken Kristie
Published: July 2024

Airports across the globe are using social media to engage customers, promote their airline partners and enhance concession revenue. A successful social media strategy is most often built on a solid brand foundation — one that clearly articulates the airport’s strategic differentiators and value to travellers. The symbiotic relationship between airline and airport is enhanced by using social media as part of a comprehensive cooperative marketing plan. It can be used to announce new routes or destinations, help to defray the risk to the airline and to ensure the success of the new service to a community. Plus, smart partnerships between airports and their concession partners can increase per-passenger spending while travellers are in the airport. Several airports are either informally or formally partnering with the concession partners in this way.
Reviewing the implementation of T+2, the impact on the industry and what comes next (T2S)
Authors: Mortensen Søren F.
Published: July 2024

The migration to T+2, unprecedented in its scale, is considered to have been a huge success as a result of the coordinated efforts of market participants in all the impacted countries. This transition occurred without the expected settlement failures. There is no regulatory enforcement of adherence to T+2 until the level 2 measures of the Central Securities Depository Regulation (CSDR) have been passed into European law. This means that any penalties imposed by this regulation will not come into effect until after the first wave of Target 2 Securities (T2S). Market participants are now concentrating on T2S preparations that will have a transformational impact on their processes and their supporting IT platforms. Wave 2 of T2S, planned for March 2016, is the target date for when the large European custodians plan to be ready with their transition programmes. It is planned that the post-T2S era will have a major impact on national CSDs that are in the process of redefining their target operating models to meet the new competitive landscape resulting from the move to T2S. The impact of T2S on national CSDs will not be fully visible until after the implementation of the major markets in waves 2 and 3.
Aligning single billing office technology with exemplary patient billing outcomes at Stanford Health Care
Authors: Radtke Gil , Honeyman Michael
Published: July 2024

Stanford Health Care’s (SHC’s) journey to the Epic single billing office (SBO) was an effort to effectively resolve patient enquiries and confusion about multiple billing statements and customer service interactions for hospital and professional fees. The implementation of the SBO at SHC combined the balances of self-pay portions onto one patient statement and unified the customer service experience. Aligning patient balances onto a single statement streamlined workflows, increased staff knowledge in both hospital and professional billing, reduced the cost of producing statements and eliminated the need to manage costly separate customer service departments. The SHC SBO combined all self-pay billing functions for the hospital and faculty physicians, reduced duplication of administrative duties, cut down on supplies and resources and eradicated miscommunications between separate billing departments. The project concurrently resulted in the creation of a centralised customer service department, The Self-Pay Management Office (SMO), in which ‘One Call Does It All’. SHC assembled a multidisciplinary steering committee to set the scope of the SBO project and to provide guidelines for governance and change management. The overall project scope was to create a single patient billing statement for all services at SHC, centralise the customer service and self-pay resolution under a single management structure and provide a single point of contact for patient calls, financial assistance enquiries and payment plan set-up. The SBO launch at SHC resulted in a 65 per cent reduction in billing-related patient complaints and disputes. Patient statement mailing costs were cut by 20 per cent, and the ‘One Call Does It All’ approach led to a 90 per cent first call resolution for billing-related enquiries. Decreased overall operational costs realised nearly US$2m in cost savings during the first year.
Communications planning: What it is, why it is important and how enrolment management marketers can apply it
Authors: Huebner Chris
Published: July 2024

Navigating a constricting marketplace, media fragmentation, complex customer journeys and razor-thin enrolment goals, enrolment management marketers are faced with the need to make their efforts more effective. As the current ‘search’ model continues to be questioned, the move from finding the most efficient way to distribute communications to a new model to produce more effective outcomes has yet to be explored. Using communications planning as a framework, this paper details how enrolment management marketers can use the framework for a more effective way to produce better marketing outcomes.
The evolving relationship between asset servicers and FinTechs : Unlocking efficiency and collaboration
Authors: Digby Matt
Published: July 2024

Significant transformations are underway as asset servicers and FinTech companies forge new alliances. As asset servicers refocus their operations on value added services, they constantly seek adaptation. Innovative technologies, refined methodologies and data-driven insights hold immense potential for boosting operational efficiency. FinTech companies have emerged as valuable partners to asset servicers, enhancing efficiency, fostering operational excellence and driving customer-centric new solutions. This paper explores the exciting opportunities and novel strategies shaping the asset servicing landscape, shedding light on evolving custody services. Legacy processes, burdensome paperwork and obsolete technology have prompted asset servicers to pursue smoother interactions and more satisfying client experiences. Fortunately, the realm of FinTech offers a fresh avenue to address these persistent challenges. A central theme here is that evolving client expectations have spurred an imperative for asset servicers to embrace technology in order to maintain their competitive edge. Clients now demand greater flexibility and comprehensive services, driving a shift towards automation, streamlined workflows and data-driven insights to lower costs, manage risks and provide tailored client solutions. Nevertheless, various hurdles stand in the way of successful collaboration. Effective communication, transparent partnerships and proactive engagement emerge as critical elements for maximising the benefits of this relationship.
An airport public–private partnership in the Canadian Arctic
Authors: Kloepfer Catherine
Published: July 2024

This paper summarises ●● why the Government of Nunavut used a public–private partnership (P3) model to modernise a key piece of strategic infrastructure; ●● why a Canadian Tier 1 airport would join a consortium to design, build, finance, operate and maintain an airport in the Canadian Arctic for more than 30 years; ●● why this consortium won the contract; ●● what challenges are presented working in a remote location; ●● what innovations were implemented; and ●● what lessons were learned for application elsewhere.
The disruption management model
Authors: Mcalister James
Published: July 2024

Within all organisations, business continuity disruptions present a set of dilemmas that managers may not have dealt with before in their normal daily duties. The disruption management model provides a simple but effective management tool to enable crisis management teams to stay focused on recovery in the midst of a business continuity incident. The model has four chronological primary headlines, which steer the team through a quick-time crisis decision-making process. The procedure facilitates timely, systematic, rationalised and justified decisions, which can withstand post-event scrutiny. The disruption management model has been thoroughly tested within an emergency services environment and is proven to significantly support clear and concise decision making in a business continuity context.
A balancing act: The Australian Transport Safety Bureau’s approach to accident investigations on airports
Authors: Hood Greg
Published: July 2024

This paper explains the role of the Australian Transport Safety Bureau (ATSB) as Australia’s independent national transport safety investigator. It will explore how ATSB accident investigators at airports tread a fine line between preserving the accident site so that evidence can be gathered while allowing airport operations to recommence. It details how the ATSB works closely with all stakeholders involved in an accident to allow normal operations to resume as soon as practicable. And it explains how the ATSB seeks to educate stakeholders of the potential hazards at aircraft accidents. Finally, it concludes by noting that the ATSB will continue to be cognisant of the impacts investigations may have on the national and international aviation networks.
Lease accounting with the Gershwin Brothers and The Rolling Stones: Part 1
Authors: Maiona Marc A.
Published: July 2024

The long awaited, and greatly debated, changes to lease accounting standards under GAAP and IFRS were finalised in early 2016. As corporate real estate executives, their advisers and their peers in corporate finance have now begun the first steps toward implementing these new standards, many are surprised by the financial statement outcomes. More specifically, due to the very subjective nature of many aspects of the new standards, companies are finding — and will increasingly find — two identical leases can have widely divergent accounting outcomes when accounted for by two different companies. This is true not only for a scenario where one company reports under GAAP and another under IFRS, but also for two different firms both of whom report under the same accounting standard. Despite the fact that the FASB’s and IASB’s stated intentions more than seven years ago were to achieve consistency and transparency in lease accounting, this paper discusses why companies should not expect either outcome. In Part 1, we explain how two identical leases can realistically yield very different accounting outcomes, and why it matters from a balance sheet, shareholder equity, net income and EBITDA perspective. The forthcoming Part 2 of this paper will focus on steps CRE directors, their advisers and counterparts in finance can take to optimise various financial impacts in light of the new standards.
Data aggregation and counterparty identification — considerations for systemic risk analysis
Authors: Krishna Dilip
Published: July 2024

Systemic risk analysis is now a topic of considerable interest the world over. It requires a combined analysis of the large counterparties in the global economy along with the interactions they have with each other. The availability of a comprehensive and quality dataset is important to systemic risk analysis. This paper discusses the kinds of data potentially required for systemic risk analysis and provides insights into the desired components of a systemic risk information solution.