Not to toot my own ho-n but it fills me with pride to say that we have setup a best in class policy framework in Corporate Risk. We have truly outdone ourselves. Now any Tom, Di-k or Harry, anywhere in the world, in first or second line of defence (does it even matter?), is able to pu-e some contradictory set of policies that are clear, necessary, and enforceable - on an industrial scale. This gibberish not only eliminates fake jobs but also promotes consistent decision-making, as employees struggle to apply or interpret the multitude of policies correctly. This in turn, boosts customer trust and satisfaction while bringing added advatages of legal issues, fines and consent orders. There are also fringe benefit of guaranteed non-compliance with such a framework which undermines credibility of the institution thereby improving confidence in the bank's management. Current cost of operating this gigantic body of high quality drivel is clearly a testament to its success. It is only a matter of time when this significant drain on time and resources will unleash an era of unprecedented productivity and high morale across corporate citizenry. I salute my leaders in corporate risk - our beacons of innovation and foresight.
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The goal is to 'miss' the risk and thereby reduce associated costs. Next scandal - "Oh, we were not aware of this element of risk"....
@trt+1nUepNO0 - corporate risk leadership has always been artificial - they never had natural intelligence
so when are you going to build your AI model with it?
Lol so true