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{{g}}The dirty, low-profile, undignified business of actually complying with all the fantastical confabulations that [[sales]], [[trading]] and [[Mediocre lawyer|the legal profession]] put the bank into. | {{g}}The dirty, low-profile, undignified business of actually complying with all the fantastical confabulations that [[sales]], [[trading]] and [[Mediocre lawyer|the legal profession]] put the bank into. | ||
It is astounding how little resemblance these manicured legal {{t|contract}}s bear to the actual ebbs and flows of operational systems in a bank. Since lawyers never see the latter, this is of no moment to them, but they will spend weeks arguing amongst themselves to shut down the paranoid contingencies that populate the [[René Descartes|Cartesian]] theatre of a lawyer’s imagination, notwithstanding that they've never manifested themselves [[Chicken Licken|in anyone’s actual experience]]. See, for example: [[close-out netting]]; [[cross default]]; [[NAV | It is astounding how little resemblance these manicured legal {{t|contract}}s bear to the actual ebbs and flows of operational systems in a bank. Since lawyers never see the latter, this is of no moment to them, but they will spend weeks arguing amongst themselves to shut down the paranoid contingencies that populate the [[René Descartes|Cartesian]] theatre of a lawyer’s imagination, notwithstanding that they've never manifested themselves [[Chicken Licken|in anyone’s actual experience]]. See, for example: [[close-out netting]]; [[cross default]]; [[NAV trigger]]s. | ||
Up to a certain level of seniority, [[operations]] folk see themselves as misshapen bell ringers of the financial services world<ref>Curiously, this is how [[Sales]] see them too.</ref>, doing the grubby but necessary work to ensure the congregation is on time, well dressed and properly presented for evensong. Imperceptibly, as they grow, they will discover a taste for the contorted figurative expressions of those who lead them: the sedentary, sedimentary [[middle management]] layer that sits over them preparing [[powerpoint|powerpoints]] and dashing from [[steerco]] to [[steerco]]. These young scallywags soon intuit that, if they wish to avoid the executive recommendations of these [[steerco]]s — that their functions be [[Outsourcing|outsourced]], [[Right-sizing|right-sized]], or delegated to a fleet of [[chatbot]]s, they need to ascend into that management layer so they can be the ones making these recommendations, and overseeing their inevitable remediation. | |||
{{ref}} | {{ref}} | ||