Ethics is one of the cornerstones of FinAut. The finance industry meets customers and society through the people who work in the industry. For the industry to fulfill its role in society and business in a good way and achieve the necessary credibility, it is important that employees are able to:
- Act professionally and trustworthy
- Identify and reflect on ethical dilemmas
- Raise and discuss ethical dilemmas with colleagues or managers
- Justify their decisions in an unbiased manner
The finance industry relies on customers and society's trust. It is therefore essential that each individual representative of the industry acts on trustworthy manner. Equally important is that the advisers and sellers develop critical judgment of their own. Sellers and advisors in the finance industry are expected to be able to handle ethical dilemmas in a responsible manner and to be able to justify their decisions.
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Digital exam in business ethics
Your next customer is your colleague’s sister and you get the feeling that they both expect you to give her a discount. What do you do?
Understanding best practice of business ethics is essential for anyone working with financial advisory services. Having the necessary advisory skills is not only important for the customer, but also crucial for the reputation of the advisor’s firm and its responsibility to the rest of the business sector and the community as a whole.
In September 2014, we launched "Samtalen" (The Conversation) together with Activa Humanistic Academy and Hyper. “Samtalen” is an interactive exam that measures a candidate’s ability to handle an ethical dilemma and is one of tree exams to be authorised.
The ability to handle situations
“Samtalen” is a digital exam in applied ethics where the candidate must use relevant ethical tools to show he/she is able to systematically handle a dilemma. A digital solution ensures that all candidates are both tested and assessed on the same level. The uniqueness of the solution lies in the evaluation of practical knowledge, not just theoretical. To become an authorised financial advisor, the candidates must pass the exam, which requires that they are thoroughly prepared.
The exam does not assess your ability to choose the one alternative that might be considered more appropriate than the other. Its aim is to make the candidate justify his conclusion systematically based on a number of considerations made throughout the exam. The result is a highly rich structure of 1172 possible tasks that together simulate a conversation leading up to the final conclusion. Because of its structure, “Samtalen” allows every kind of dilemma to be implemented in the exam.