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The Psychology of Human Misjudgement - Charlie Munger Full Speech via @YouTube
well, if one can get around the accounting and auditing systems, you can commit fraud on a massive scale.
That is what rogue traders do!
But, financial institutions have invested big time in hiring quants who can write codes and Greek symbols which board members don't comprehend
That is what rogue traders do!
But, financial institutions have invested big time in hiring quants who can write codes and Greek symbols which board members don't comprehend
As a GRC / #ERM Professional one should always follow the golden rule, that is ->
"If it hurts, it works!"
If our actions and impressions are not keeping the front and back offices at the edge of their toes, then we aren't fulfilling our job description responsibilities.
Simple!
"If it hurts, it works!"
If our actions and impressions are not keeping the front and back offices at the edge of their toes, then we aren't fulfilling our job description responsibilities.
Simple!
You have to annoy people to get things done at Financial Businesses!
Cannot be too sweet all the time.
Risk Managers should adopt a more stern and stiff disposition.
Have an awfully cosy relationship with the traders and RMs might not be helpful.
Cannot be too sweet all the time.
Risk Managers should adopt a more stern and stiff disposition.
Have an awfully cosy relationship with the traders and RMs might not be helpful.
If a treasury dealer or capital market trader is violating his stated desk exposure or any other risk limits aka haircuts, assigned to him by the Middle Office, the former should not be allowed to engage in financial activity any further.
Just unplug the PC/ Trading screen.
Just unplug the PC/ Trading screen.
