In keeping with themes. I don’t want to be dead before someone, somewhere starts talking about and doing what I and my associates advocate entirely…

Accountability. It seems that accountability is an elusive trait. How many friends, family members, associates, movie and TV characters, politicians and pundits shun accountability and blame everyone and everything other than themselves for whatever is happening?! At the same time often, these same people claim accountability when someone does, or something happens that will benefit them.

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All anyone must do is bring their ideas to any superior in their company and see in a month or two how brilliant that superior has suddenly become. If you’re an executive and this offends you, then we know what side of the equation you are on. If you are one of those that has experienced my observations rejoice, it is being openly stated.

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This sort of nonsense may be fine and out of our control in daily life, but it has no place in banking or financial industry practices. Banks are the stewards of all our money and their employee’s money as well. They are the lifeblood of our communities, the sources of homes, autos, education and dreams for many of us. They are charitable and giving, sponsoring local, national and international events and causes of good will. For these reasons and more they must be held accountable to highest levels of stewardship and integrity. The risks are so high to society that anything short of this leads to pain and misery for those that trust them for their financial livelihood.

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So, the questions to you the first line quant, researcher, underwriter or analyst or the second line middle manager and business unit leader or the third line internal auditor and the executives and boards that oversee your institutions are:

• Are you accountable?
• Do you know who is accountable?
• Do you encourage productive accountability or are you punitive?

Serious things to think about. If you are on the right side of this, relax, go home and sleep well. If you are not, well you may want to work in another industry.