Management owns the outcome

Responsibility for a company’s actions sits with its management, not its regulators.

• Leadership
• Banking

1 idea that carry it

• Decision principleBankingLetter

  Responsibility for a company's actions sits with its management, not its regulators

  A firm that did what the rules allowed and lost has not been excused by the rules; management chose the position.

  Banking interviews, risk culture questions, and any post-mortem that reaches for the regulator as the explanation.

  From JPMorgan Chase letter to shareholders, 2008 · Jamie Dimon