On humility
It's nice to see op risk managers becoming more aware of their limitations
Some years ago, Goldman Sachs chief executive Lloyd Blankfein became infamous when he told an interviewer that, as a banker, he was “doing God’s work”.
Since then, there have been encouraging moves towards humility in at least some parts of the financial sector – not least in taking on one of the biggest lessons of the crisis, that of the limitations of modelling. At the OpRisk North America confe
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