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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

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A Cognitive Analysis of COVID-19 I

A Cognitive Analysis of COVID-19 I

Christian Hunt

25 years: Behavioural science & compliance

As an extra to Christian's Behavioural Science series, in this video Christian examines the world's largest behavioural science experiment, also known as, COVID-19. He discusses how it has highlighted weaknesses in our mental models, and why we didn't see it coming.  

As an extra to Christian's Behavioural Science series, in this video Christian examines the world's largest behavioural science experiment, also known as, COVID-19. He discusses how it has highlighted weaknesses in our mental models, and why we didn't see it coming.  

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A Cognitive Analysis of COVID-19 I

7 mins

Overview

COVID-19 has caused significant disruption to our lives and ways of working. Yet in many respects, it was entirely predictable. This session explores the inherent contradiction in this way of thinking and how each of us categorises different types of risk.

Key learning objectives:

  • Learn the differences between, ’Known Knowns’, ‘Known Unknowns’,’Unknown Unknowns’ and ‘Ignored Unknowns’ when it comes to the risks we face

  • Discover the techniques we use to minimise our fears of the dangers we face.

  • Understand why COVID-19 was entirely predictable and yet feels unprecedented.

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Summary

Why was COVID-19 predictable?

COVID-19 was not the first pandemic we’ve ever experienced.  After all, we'd previously had Ebola, SARS and MERS. And if we go back to 1918, we've got the Spanish Flu which killed between 50 and 100 million people and had global reach. Arguably the greatest human disaster; not only of the twentieth century but possibly in all of recorded history.

Why does COVID-19 feel so unprecedented?

Our perception as to whether something feels precedented, is down to our personal experience. People living in countries that experienced SARS and MERS, were much better prepared than those that hadn’t.   For many Western countries, the last experience of something similar was over 100 years ago; it barely features in history books and is beyond average living memory.

What are ‘Known Knowns’?

Former US Defense Secretary Donald Rumsfeld coined three terms for the types of risk we face.  ‘Known Knowns’ are the first category and are risks we know about and, by definition, we know that we know about them.

What are ‘Known Unknowns’?

‘Known Unknowns’ are the things that we are aware exist as potential risks, but over which we don’t have full visibility or understanding.

What are ‘Unknown Unknowns’?

‘Unknown Unknowns’ are things we don’t know about and don’t know that we don’t know. These pose a considerable risk, because not only do we have no visibility over them, but we don’t think to have any, because we don’t know that we need to.

What are ‘Ignored Knowns’?

In addition to Rumsfeld’s three risk categories, there may also be a fourth. ‘Ignored Knowns’ are things we know about, but choose to ignore.  COVID-19 arguably fits into this category.

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Christian Hunt

Christian Hunt

Christian is the founder of Human Risk, a Behavioural Science led Consulting and Training Firm. Previously, Christian was Managing Director at UBS, and Head of Behavioural Science (BeSci), within the Bank’s Risk function. Prior to joining UBS, he was Chief Operating Officer at the UK’s Prudential Regulation Authority.

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