– is it an obstacle in modern banking?
“...I say, that Power must never be trusted without a check.”
― John Adams, Adams-Jefferson Letters
Definition and general description
A Separation of Duties (SoD) is the concept of having more than one person required to complete a task. In business, the separation by sharing of more than...
– a good risk management strategy
“Challenges are what make life interesting and overcoming them is what makes life meaningful.” – Joshua J. Marine
Dear readers, last week I shared titbits on how morning huddles can be utilized effectively as a risk management tool. Before I continue, I wish to reiterate...
– a good risk management strategy
“You can’t reach for anything new if your hands are still full of yesterday’s junk”..
Louise Smith
A workplace Huddle is more than just a staff meeting. It is a regular discussion in which attendees address key performance indicators and areas of improvement. These meetings can...
Welcome to the concluding article on how bankers can cretae an effective risk management system with security guards.
The Dangers surrounding the few Bad Nuts among Security Guards
Let us look at some of the dangers that a few bad nuts facing similar situations can put the institution into. For purposes...
“Treat your customer, as you want to be treated as a customer." Catherine Pulsifer
As intimated last week, this series was first published in this newspaper several years ago, but since the issues are still relevant, I am continuing. Before that, let me give a “shout out” to a security guard...
Internal Controls in Banks
Internal controls are important in banking. Managers are obliged to protect the assets, reputation and the people in the business. This is very important to employees who are likely to feel protected from false accusations. A bank with sound internal controls promotes trust among employees. Excuses...
Dear readers, the above diagram shows the typical processes one goes through to acquire a customer’s consent to open an account. It is a mutually satisfying experience, but it can be quite tedious for both the staff and the customer. Maintaining the status and keeping the customer delighted with...
A wise man adapts himself to circumstances, as water shapes itself to the vessel that contains it. --Chinese Proverb
Organizational change is very rampant in the financial services, and it has a bearing on how people are treated as well as how they respond to the effect of these changes. In...
Last week, I created an awareness of the need for banks as corporate bodies as well as individual bankers to pay closer attention to the paradigm shift in banking and have a serious change of mindset, as a pre-requisite to moving on. This period of self-reflection is to identify...
“There is going to be digitization of the workforce in a way we have never seen before. In 10 years, probably less, we will have substantially fewer employees, and the ones we do have will be significantly different from what we have now”.—Director, Bank Governance Leadership Network,
Dear reader, I...