Risk controller: Difference between revisions
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{{a|risk|}} | {{a|risk| | ||
[[File:Shit hits fan.jpg|450px|thumb|center|A [[risk controller]] asleep at the switch yesterday]] | |||
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One of those fabulous men and women whose job is to make sure the institution they represent doesn’t unwittingly poke itself in the eye. | One of those fabulous men and women whose job is to make sure the institution they represent doesn’t unwittingly poke itself in the eye. | ||
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*[[Compliance]] | *[[Compliance]] | ||
These poor people are the wrong side of an asymmetric option: no [[risk controller]] ever got | These poor people are the wrong side of an asymmetric option: no [[risk controller]] ever got credit for approving a deal that was colossally profitable, but plenty were eviscerated and left to dangle outside the city walls for neglecting to stop one that wasn’t<ref>This is, of course, outrageous hyperbole. No risk officer was so much as gruffly reprimanded for not anticipating the forthcoming [[global financial crisis]]: the [[circle of escalation]] saw to that.</ref> so you shouldn’t begrudge them the outlandishly risk-averse behavior in which they will inevitably indulge. | ||
After all, we spend large parts of our daily life catering for contingencies that will never happen. Look upon a [[control function]] as a sort of [[insurance]] against {{risk|risk}}. You pay a cost/premium | After all, we spend large parts of our daily life catering for contingencies that will never happen. Look upon a [[control function]] as a sort of [[insurance]] against {{risk|risk}}. You pay a cost/premium upfront (in time and organisational resources) to have someone manage the {{risk|risk}}. But are these meaningful contingencies or just comfort blankets – paper tigers and imaginary monsters that, as {{risk|individual}}s we are professionally incentivised to treat as real? | ||
The [[collective noun]] for a group of [[risk controller]]s is a [[palaver]]. | The [[collective noun]] for a group of [[risk controller]]s is a [[palaver]]. | ||
Revision as of 16:11, 29 August 2020
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Risk Anatomy™
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One of those fabulous men and women whose job is to make sure the institution they represent doesn’t unwittingly poke itself in the eye.
People in these departments:
These poor people are the wrong side of an asymmetric option: no risk controller ever got credit for approving a deal that was colossally profitable, but plenty were eviscerated and left to dangle outside the city walls for neglecting to stop one that wasn’t[1] so you shouldn’t begrudge them the outlandishly risk-averse behavior in which they will inevitably indulge.
After all, we spend large parts of our daily life catering for contingencies that will never happen. Look upon a control function as a sort of insurance against risk. You pay a cost/premium upfront (in time and organisational resources) to have someone manage the risk. But are these meaningful contingencies or just comfort blankets – paper tigers and imaginary monsters that, as individuals we are professionally incentivised to treat as real?
The collective noun for a group of risk controllers is a palaver.
See also
- Over-processing - how risk controllers are incentivised to create waste in the negotiation process.
- Chicken licken
References
- ↑ This is, of course, outrageous hyperbole. No risk officer was so much as gruffly reprimanded for not anticipating the forthcoming global financial crisis: the circle of escalation saw to that.