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Because “People” Are More Important than “Systems”

Photo by Riccardo Annandale on Unsplash

A challenging environment

The financial industry has changed in the last ten years. The environment has become more challenging:

  • Faster,
  • More complex (especially because of regulation), and
  • Less money is available for change projects.

The 2020 global crisis has made things even tougher for financial institutions.

Competition has been increasing. The real economy has been suffering. The Golden era of private banks is over. Jobs are threatened by layoffs.

Is your company, department or team…”

  • Suffering from low margins? Too high costs?
  • Finding it hard to maintain compatibility with regulatory requirements? (Switzerland: Financial Services Act / FIDLEG / LSFIN)
  • Inefficient workflows ? Hours lost doing repetitive stuff?
  • Some operational issue has been bugging your company for years?
  • Some delayed project, which somehow never goes ahead?

How to achieve more with less?

  • Continue to develop soft skills, but want to acquire the necessary hard skills again ?
  • Untrained staff, who commit errors?
  • Lost know-how because experienced people left?

You will make the difference

  • You and your team (not your processes and not your systems) are the most important asset.
  • People (you) make the processes of your financial institution.
  • People will develop, install and maintain, the systems that will give a technological edge to your company.

Whether you work in a bank or for an independent financial firm, now is the right time for you to reassert yourself and change the way you and your team get things done.

Auditors’ Work after COVID-19: Should we burninate the Big 4?

Photo by Ben Rosett on Unsplash

Burninate: fig. to immolate violently and without just cause (Urban Dictionary)

Reading Vladimir Berezansky's thoughtful article "Compliance after Covid 19", got me thinking about what changes this crisis would bring to the financial industry in general. After we exchanged on it, he advised me to reformat my thoughts into an essay. Here it is.

What follows reflects, of course, only my views. Or rather, it reflects "those views" that have been coursing through the banking industry for a while. You know, those subjects that everyone knows about, but one should never talk about in public (shudder)? Yes, "those ones*". Well, someone had to open…

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Entrepreneurship: Faith, is Everything

Photo by Dariusz Sankowski on Unsplash

There has been a buzz recently about a quote related to Steve Jobs in the last days of his life, which basically said:

Both watches show the same time…

As we get older we are smarter, and we slowly realize that the watch is worth $30 or $300 – both of which show the same time.

What a few people missed, is that it does not matter at all that Steve Jobs probably never said that. What matters is the spirit, and besides, the…

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