The role of the wider society in shaping the culture and risk profile of banks and other organisations might be more important than most people think. Understanding that role is extremely important for bank executives and risk professionals if they are to build organisations that are sustainable, economically and competitively, in the long term. Continue reading
Tag Archives: compliance
The following article was originally published in the October edition of The Journal of Business Compliance.
INTRO: Jonathan Ledwidge is an author and risk professional with more than 20 years experience in investment banking and has strong views and undeniably good questions. In this opinion article, the first under the Speakers Corner column of the Journal, he asks questions of everyone in the corporate world, not merely bankers, but industrialists, regulators and all those associated with the formation of governance frameworks, the promotion of meaningful corporate culture and their implementation. He considers the many pitfalls into which a generation of business and political leaders have fallen and the consequences these have had on regulation and internal control practices. The scandals that have come to light within the banking sector have overshadowed scandals of corruption and misselling in other industries that just as crucially require answers and reflections of the existential question: Why are we here?
“Tell me again Maximus, why are we here?” Continue reading
The above entitled article on Reuters was written by Bethany McLean, one of the authors of the book “The Smartest Guys In The Room”, which eventually became an Academy Award nominated documentary about the wiles of Enron.
The article makes for exceptional reading and is a must for those involved with the banking industry and especially those involved in risk, audit, finance and compliance. I highly recommend it to all. Please use the link below to access it.