Tag: Responsibility

Responsibility

And Another Thing…

There has been more emphasis within the financial services industry on the responsibility of the individual in recent years as regulators have dealt with misconduct, but will this ever actually succeed when too many institutions – banks especially – have such a complex and over-lapping management structure?
How can an individual be responsible for something when they are a “co” head of business and into the bargain report to about seven people, all of whom are also “co” heads of something?

And Another Thing…

It worries me we are witnessing an increasing reluctance to accept responsibility when something goes wrong in financial markets and we need to do something about it. Let’s not kid ourselves, just about every financial markets related fraud has occurred because someone, somewhere, didn’t want to take a loss. If we don’t halt this, are we breeding a generation whose first thought on incurring a loss is “who do I blame?” and second, more worryingly, is “how do I cover this up?”