82,891
edits
Know your client: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| (2 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
{{a|devil|}}Yes, yes yes there’s the worldwide [[Anti-money laundering|military-industrial complex dedicated to rooting out money laundering]] — let’s not get drawn into the debate as to whether ''legalising drugs'' might be a better policy response than systematically | {{a|devil|}}Yes, yes yes there’s the worldwide [[Anti-money laundering|military-industrial complex dedicated to rooting out money laundering]] — let’s not get drawn into the debate as to whether ''legalising drugs'' might be a better policy response than systematically exiling large sections of the emerging world economy and depriving them of access to the developed world’s capital markets — this is about ''actually'' knowing your clients, in the sense of being “authentic”. Having a good relationship with them, speaking to them, understanding their business, their expectations and their challenges, as a practical means of managing the risks, and opportunities, they present to your business. | ||
This spills over to a number of Devil’s | “[[Authentic]]” is, in modern management dialectic, an ugly adjective, but only on account of the fatuous nouns to which it is applied. The more you talk about authenticity, in the main, the more you tend to disingenuity. | ||
This spills over to a number of [[The Devil’s Advocate|Devil’s Advocate]] themes: communication and persuasion; [[plain English]]; data; tech. | |||
To this end, reduce risk by '''building trust''' with your clients: | To this end, reduce risk by '''building trust''' with your clients: | ||
*Get to know them. Encourage operational people to communicate informally and often. Encourage social interaction at low levels. (Spend | *Get to know them. Encourage operational people to communicate informally and often. Encourage operational social interaction at low levels. (Spend £20 on a one-on-one lunch, not £10,000 on taking the CIO to Wimbledon). | ||
*[[Be personal, not adversarial]]. If you go to the legal docs, you’ve lost. | *[[Be personal, not adversarial]]. If you go to the legal docs, you’ve lost. | ||
*Be ''[[authentic]]'' in your communication: | *Be ''[[authentic]]'' in your communication: | ||