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  • Rise of the naysayers at the banks [View news story]
    "Naysayers" is actually quite a succinct, accurate and appropriate term to use. It refers to the natural bias of risk control people when faced with a decision. From my experience, their priorities are 1) job preservation, 2) personal risk deflection, 3) the business. Just as those that originate risk have a natural bias to get things done (priority being generally personal reward) those risk management have a bias towards turning down or referring the transaction to another control group so they are not alone in signing off. So "naysayers" is bang-on the button and I think most risk people I have dealt with would be happy with the description. It's always been the same - but now the pendulum has swung to the extent that the naysayers have a much louder voice. In general the same deals get done as would be done with a less powerful risk management influence - its just a lot harder and more expensive to get them done now.
    Jun 27, 2014. 04:16 AM | 4 Likes Like |Link to Comment
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