Diogenes-FG: Heralding Responsible Innovation in Fiduciary Services for Retirement and Nonprofit Trustees May 08, 2018 By Bala MullothRobert PattersonJohn Whitworth Diogenes-FG: Heralding Responsible Innovation in Fiduciary Services for Retirement and Nonprofit Trustees Diogenes pioneered the use of technology to support trustees and boards in their role as fiduciaries of employee retirement funds. Typically, a multinational corporation with operations in 30-40 countries may have hundreds of pension plans, each with their own characteristics. Common among all of them is the opportunity to demonstrate conformance with globally recognized fiduciary best practices. The Diogenes Fiduciary Compliance System gathers and curates all relative documents and compares that information with the 21 practices and the 82 criteria of the ISO 9000 based Fi360 Prudent Practices. Using sophisticated statistical techniques including Bayesian Inference, the software continuously evaluates conformance to the Prudent Practices and reports on areas which need to be addressed. Reporting by exception, the user starts with a global view and can drill down by region, country, company, and plan to review the issues. A continuous audit log provides management with the information to support their role as fiduciaries by continuously monitoring their investments as required by the US Supreme Court's guidelines in the 2015 Tibble v. Edison International case. Board members can rest easily knowing that management meets the highest level of quality in support of their employees and shareholders. Darden Business Publishing Areas of focus Economics Social Entrepreneurship Bala Mulloth Bala is a globally oriented educator and entrepreneur who has lived and worked in Asia, Europe and North America. Read full bio Robert Patterson John Whitworth Related Content Bala Mulloth Innovation Tradecraft: Sustaining Technological Advantage in the Future Army Research For more than three years, the US Department of Defense (DoD) has been improving how it innovates in the face of rapid technological change. Dozens of departmental, service, and agency initiatives have emerged to address different aspects of the innovation problem. Charlottesville Works: Harnessing Social Networks to Promote Employment and Fight Poverty Research Ridge Schuyler believed that social networks were a unique and innovative way to fight poverty through sustainable employment opportunities. This case study describes how Ridge scaled up Charlottesville Works locally around a formalized social network model that connects unemployed individuals living under the federal poverty line to promising jobs through word-of-mouth, at little cost. Batten’s Bala Mulloth Awarded $100,000 to Empower Students to Solve Global Problems in Air Pollution News Batten Professor Bala Mulloth and UVA Engineering Professor Gaurav Giri have been awarded $100,000 for their work to mobilize students to learn about and help address the global air pollution crisis. Professor Spotlight: Bala Mulloth News Batten Professor Bala Mulloth thrives in different cultures. “I was born and raised in Mumbai, studied in New York City, then worked in Budapest, Hungary, and for the past four years, I have lived in Charlottesville,” said the professor of Social Entrepreneurship.