Serving stakeholders

Banks occupy a central position in society and the economy. People have passionate opinions about them – some arguably misguided, some appropriately challenging. I hope to do three things here that might enhance public debate. Serving Stakeholders from Harrison Young First, I want to offer a conceptual model and some vocabulary – tools I find useful[…]

On Risk Culture: Making Friends with 220 dot 13b

This piece also appeared in the Australian Financial Review. I was in a crowded restaurant the other day, discussing CPS 220 with a friend.  The woman at the next table decided to join our conversation.  “I don’t know about you,” she said, “but I love the new robot.  He’s small and determined, but more expressive[…]

Why it’s critical to care about board culture

A lot of what we believe about management comes from the military. Organization charts display hierarchy. Boards have authority and ultimate responsibility but they cannot accomplish their mission by issuing orders. In creating boards, and judging boards, we are interested in soft issues as well as hard. We care about culture. I want to share[…]

Conversation as risk management

To plunge right in, do you know that curve with a long tail on one side that plots size of loss on the x-axis and frequency on the y- axis? I want to divide it into three parts. There’s the big pile of business-as-usual outcomes on the left of the graph. There’s the long skinny[…]

Your job, my job, our job – the balance between Boards and management in governance

One of the principles of traditional governance is that a board oversees rather than manages. Both activities involve inspecting. While it is normally the boss who inspects, it is worth noting that both parties have the same objective: getting it right. Inspector and inspected are on the same team. As such boards participate in decision-making because as[…]