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  Robert Cranmer May 27, 2013 9:25

  Lack of appreciation for what constitutes a risk in the context of that organisation!
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  Mike Benishek May 25, 2013 1:02

  Ahhhh.....

  1 - The worst is that they shoot you.....more than twice......

  2 - Make it a policy to TURN OFF all cell phones during the meeting....( a bucket of water as a repository seems to work well....)

  3 - This really illustrates a lack of serious top management commitment to Risk Management .......on any level....

   

  The only worse thing that I can imagine is ordering a "tuna fish and strawberry pizza" and having it delivered to the meeting.....

   

  Guess that I live a sheltered life............

  Mike Benishek, Pd.T.F.

   

   
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  Diego Rios May 22, 2013 10:34

  I've got 2 to share:

  A. When addressing some of the invitees to one of the commitees of the Board on the several risks that the company faces, in particular market risk, I was shushed and told to let the the people that do business "on the market" worry about market risks - I had to explain that I was referring to financial risks and not risks that we pick up from the (street) market .

  B. When asking the Board to approve an ALM policy one of the shareholder representatives of the company in that JV says: "We do not need policies, we need you to tell us the exposure and not to worry theory and dos-and-dont's", to make it worse, the other JV shareholders' representatives, who do not work on financial companies, agreed leaving our expertise highly in doubt in relation to setting the tone at the top.
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  Fons Sparreboom May 21, 2013 11:31

  Many of the reported Issues and Risks I made Account Executives aware of, and Quality and Risk managers at client account were left untouched. After presenting a Global Approach on Integrated Risk management, I was asked to become Global Risk mgr, at the day I would have been announced to the organisation they decided to dropp the whole implementation and my role completely due to cost savings, and the fact there were some fragmented risk tools at diverse departments.

  Risk appetite....? Allways an issue. 
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  Puben Govender FRM CFA CAIA May 20, 2013 13:19

  Excellent anecdotes, after much explanation on CDO's and illiquidity I was still asked by a director in September 2007 to approve CDO investing, thank goodness they meet once a quarter by December the tune changed to "what are CDOs and why trustees should be aware of them" as you can guess, played by the very same director...
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  Jonathon May 20, 2013 2:07

  How about presenting to the Risk and Audit Committee of a small European bank in the Hellenic region...and have one of the members go off mid-meeting to take a call from his stock broker?

   

  Again - the rest is history :-)

   
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  Jon Hodgson May 19, 2013 21:42

  Reply to Lynn Exton's re: Risk Dashboard - Years ago I discovered the color Red relates to something good, in China...This entailed producing an alternative to the generally accepted RAG status!
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  Jon Hodgson May 19, 2013 21:36

  About 15 years ago I presented to the international board of a major bank, the pitfalls of 'structured products'. The board steadfastly refused to accept the medium and long term damage these products would incur! My report was subsequently ignored and swept under the carpet...

  As they say, the rest is history...
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  Andrew Hiles May 19, 2013 1:35

  Not quite the Board, but I was presenting to a director in his office, using my laptop which he kindly plugged in for me.  At the end of the meeting, he pulled out the wrong plug - and lost half a day's unsaved work!
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  Tom Giangreco CISSP CISM CRISC May 18, 2013 18:47

  I presented a high-risk finding that was initially accepted by the company. When asked why I didn't indicate "who" specifically accepted this risk, the person who did, interupted and tried to deflect the issue. I was instructed by the committee to always indicate the person next time and we moved on without further discussion. The unnamed person who had accepted the risk, and was a senior VP that I reported up to, left the meeting early; and in a huff. I left shortly thereafter when the Director of Information Security was mysteriously downgraded to an assistant manager position. The lesson: sometimes doing your job can bring retribution when you hit a target between the eyes.