Don’t take a piece of paper to a knife-fight: Difference between revisions

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 {{A|negotiation|}}One of the [[JC]]’s {{t|maxim}}s. If you have a real business {{t|risk}}, then you need a real business control for it. Not a [[piece of paper]] that you signed in 2007 and then stuck in a drawer.
-To be sure, you can ''support'' your operational controls — really make them sing — with a stout legal {{t|contract}}, but if you don’t ''have'' any practical operational controls, or if the fellow who is supposed to be monitoring them is asleep at the switch then the fact that, back in the day, [[credit]] had your [[Documentation unit|docs unit]] engage in six months of hand-to-hand combat with your client to shove a [[NAV trigger]] in their ISDA — sticking ''anything'' in a document that no-one will ever read again, and most people in your organisation wouldn’t understand even if they did, is a really bad way of [[hedging]] against a real risk.
+To be sure, you can ''support'' your practical operational controls — really make them sing — with a stout legal {{t|contract}}, but if you don’t ''have'' any practical operational controls, or if the fellow who is supposed to be monitoring them is asleep at the switch, then the fact that, back in the day, [[credit]] had your [[Documentation unit|docs unit]] engage in six months of hand-to-hand combat with your client to shove a [[NAV trigger]] in their ISDA is ''not'' going to get you out of a jam if you find out, some years later, that said client blew through the [[NAV trigger|NAV limits]] you carefully confected ''nine months ago.''
+Sticking ''anything'' in a document that no-one will ever read again, and most people in your organisation wouldn’t understand even if they did, is a really bad way of [[hedging]] against a real risk.
 {{sa}}
 *[[smart contract]]s