Archive for January 29th, 2008

Société Généreuse

Tuesday, January 29th, 2008

Whilst there is plenty of serious coverage of Jérôme Kerviel and his antics, I was amused to see French commentators renaming the stricken bank “Société Généreuse“.

The serious point to me is about governance.  Whether IT systems, banking processes, or capital management, there must always be governance, assurance, security surrounding human activity.  That is not say a lack of trust, far from it.  But there needs to be parameters within which people are allowed freedom to act, combined with systems that prevent them straying outside these, when to do so has such serious consequences on the organisation and its environment.

The larger the enterprise, the more this is so.