Dear Reader, I wish to reflect on some issues happening around us. Recent developments that keep on recurring in some institutions boils down to one fact – BAD RECORD KEEPING. This article was first written in 2017 but recent revelations have made me go back to amend and republish...
“Stop selling. Start helping” – Zig Ziglar
Dear customers, welcome once again to the risk watch. Banks continue to face a dilemma when opening accounts for various personalities.
The semi or stark illiterates
Although it is normal to assume that credit worthy and high net worth customers dress in fine clothes, it...
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...
– 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...
Dr Ernest Addison, the Governor of the Bank of Ghana, at the 27th Annual Bankers’ Conference, said that ethical business practice should be pursued relentlessly and aggressively by all industry players. He said in doing this, “we must adopt a collaborative approach, involving every individual in the institution, so...
“It is not the absence of risk that determines a program’s success but the manner in which risk is identified and managed”
Dear readers, last week, I looked at the need to get the image of the risk personnel rebranded. At many training sessions, I witness the usual banter between...
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...
“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...
According to the Central Bank’s Domestic Money Bank’s Income Statement, a total of GHS2.086 billion was written off as bad debt by banks operating in Ghana. The total bad debt stock was 4.7% less than that of 2020 which was GHS2.183 billion.
Dear readers, last week, I shared some sentiments...
“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese”
– Chris Skinner
Digital banking and most often, mobile banking has created huge opportunities in terms of social inclusion and accessibility. This is furthermore important now, when the world...