Episode 10 - What Does Leader Character have to do with Conduct and Culture?

Summary: In this episode Mary and I welcome our special guest Ted MacDonald, Advisor to the Financial Conduct Authority in London, England and a long-time, unofficial ambassador for Ivey Business School. Ted discusses how Leader Character allows the practitioner to go beyond the letter of financial industry regulation, to the spirit of the regulation’s intent. Ted describes the effect of COVID-19 on culture, conduct, and individual well-being, and how Leader Character can provide a leader with balanced, timely and wise decisions during these unprecedented times. Ted and Mary distinguish between poor ethics and poor judgment, and how Leader Character, by focusing on judgment, can help reduce the risk of misconduct. We discuss how strength of character among the organization’s leadership sets the tone for a safe, supportive environment that will allow the aspired culture to thrive. Ted describes the concept of “tone from within” where individuals strength of character aligns with the organization’s purpose. Mary and Ted emphasize the foundational importance of individual character development in achieving culture change, how most organizations don’t take this seriously enough, and how those that do will achieve long-term, competitive, sustainable advantage. Ted also discusses how he has successfully used leader character within the FCA, and how it has been helpful to him in his personal life (using a waterskiing analogy). (Running time ~54 minutes)