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 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?
- Over-processing - how risk controllers are incentivised to create waste in the negotiation process.
- Chicken licken