2024 Report to Philanthropic Partners
Center Achievements and Updates
The American College Cary M. Maguire Center for Ethics in Financial Services is committed to raising the level of ethical behavior in the financial services industry. Led by Managing Director Azish Filabi, JD, MA, the Center for Ethics in Financial Services had a banner year in 2024, extending its reach to financial advisors and expanding its community of corporate supporters who share a commitment to business ethics.
Filabi provided a keynote address at the Investment and Wealth Institute's Annual Strategy Forum, speaking about the ethical considerations of AI use in financial services. In addition, she was featured at the annual American College Center for Military and Veterans Affairs’ Military Summit, speaking on a panel about opportunities and challenges posed by AI in financial services. Other public speaking engagements by Filabi included an opportunity to serve as a panelist at the Association of Life Insurance Council Annual Meeting and the 2024 Finseca Advanced Markets conference. She chaired a panel on AI in commerce and banking at the New York City Bar Association’s 2024 Artificial Intelligence Institute. This panel followed two podcast appearances with the New York City Bar Association regarding ethical duties surrounding digital technology innovations and approaches to AI in insurance.
In addition to speaking engagements and public appearances, the Center’s work was prominently featured in publications. Domarina Oshana, PhD, Director of Research and Operations, authored a piece in Financial Advisor Magazine titled Leading With Trust in the Modern Financial Landscape. Filabi co-authored "Five Key Questions For Ensuring Responsible AI In Financial Services" in Financial Advisor Magazine and "Adaptable Artificial Intelligence" in the Journal on AI Policy and Complex Systems. She also authored "Can You Reduce Systematic Risk in Your Client’s Portfolio?" and co-authored a chapter on the United States in the Global Survey of Business Ethics 2022–2024, published by Globethics.
Azish Filabi, JD, MA, Managing Director, American College Cary M. Maguire Center for Ethics in Financial Services
Program Highlights
Trust Certificate Program
The Center’s Trust Certificate Program equips financial services professionals with the skills to build and restore trust. Backed by proprietary research and data only available through The College, the program stands in a league of its own as a custom executive education opportunity.
In September 2024, an American life insurance company hosted a cohort of 19 students to participate in the program. Upon completion, participants indicated that they viewed their roles holistically and felt empowered to take on the challenges ahead. Looking forward, the Center will offer Strategies for Building Trust: A Practice-Based Certificate Program. This fully online version of the Trust Certificate Program is available for open enrollment, consisting of three live sessions, designed to go beyond theory and apply frameworks developed by the Center to help participants establish trust-based relationships that drive long-term success.
Fellow Impact Stories
The Center for Ethics is proud to recognize Dr. Caterina Bulgarella as its Leadership Strategy Fellow. Having previously served as a Maguire Fellow in Applied Ethics, Dr. Bulgarella returns to the Center for Ethics in Financial Services to continue playing a pivotal role in advancing the Center’s mission.
A social scientist with deep expertise in culture measurement, Dr. Bulgarella has studied the cultural ecosystem of financial institutions. She has contributed greatly to the Center's "Trust in Financial Services" research, including modeling the relationship balance firms must create in order to establish trust with clients. She has also been instrumental in developing the content for the Center’s Trust Certificate Program, where she serves as a co-instructor.
Research and Thought Leadership
The Center creates industry-leading research in diverse fields of study, connecting the latest in ethical theory and practice with trending topics in the world of business today. Voices from the Field: Ethics Challenges in Financial Advisory Practice is one of the timeliest research studies within the Center.
This qualitative study offers a rare, behind-the-scenes look at the ethical dilemmas financial advisors face, shared through their own voices. The research highlights how advisors navigate conflicts of interest, compensation pressures, and the complexities that can undermine client trust.
The Center will report findings through a white paper and accompanying workshops in 2025.
Upcoming Plans
In 2025, the Center will continue to expand its research on AI, including how AI impacts trust, and responsible AI practices by financial companies. The Center will host a live AI roundtable, in collaboration with leading financial firms and technology companies, focusing on challenges of AI risks in the industry, along with strategies for responsible governance.
Additionally, the Center is set to host the Twenty-Fourth Annual Mitchell/The American College Forum on Ethical Leadership in Financial Services and the Annual Ethics Workshop, a readout of the Center's latest research for the benefit of its corporate supporter community, the Alliance for Ethics.
A Legacy of Industry Leadership
Founded in 1927, The American College of Financial Services is the nation's largest nonprofit educational institution devoted to financial services professionals. Holding the highest level of academic accreditation, The College has educated over 200,000 professionals across the United States through certificate, designation, and graduate degree programs. Its portfolio of applied knowledge also includes just-in-time learning and consumer financial education programs. The College's faculty represents some of the foremost thought leaders in the financial services industry. Discover all the ways you can expand your opportunities with us.
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