Buried is an understatement. There is not a compliance, operational, finance or credit risk practitioner that is not in a constant state of being overwhelmed. Overwhelmed because they are understaffed, underfunded, lack critical technological systems and expertise not to mention that much of what they have been sold in the past ten years creates enormous effort with low margin results. These groups are buried in a landscape of endlessly changing regulations, constant internal priority changes and fire drills.
Risk work is tedious, nonstop and demanding. Risk professionals are buried with conflicting needs and demands of numerous business units and unit based objectives. Risk itself both negative and opportunistic is buried in the confines of the business units, buried in difficulties of communication, disassociated spreadsheets, power points and emails. Overall risk professionals are suffocating in their roles, they need and deserve credit for the hard work they do but as result of being buried, they are seldom heard or recognized correctly.
Their hope to become unburdened lies elsewhere, not within the space in which they operate. It requires the assistance of others. Those assisting must show empathy, giving them the ability to remove the dirt, the rocks and become enlightened.
Myopic risk analysis and communication must be dug out. And then cleaned and brushed off. It must be examined to understand its health and overall condition. Only then can the burdened begin to grow, thrive and expand.
My colleagues and I are like you. We were buried for years and sought a better way. We pushed away the dirt, the rocks and picked up many bruises and cuts along the way. We endured and found a way out. We know precisely where our colleagues are buried, and we know how to get them out.
The facts are clear, straightforward. Risk functions at banks are buried in outdated and elementary processes that are no longer useful. The practitioners in charge have little or no power and in many cases have no access to dig out of their holes.
Dramatic? Not at all. We are speaking from real world experience and we are here to have dialogue, take action and to set things right - for the health, security and prosperity of our clients.