Why do all bankers hate compliance so much?
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It’s fucking boring and gets in the way of us making money
No one has ever said: “you know what’s fun? Sitting in a compliance training and making sure we’re all following rules properly.”
I get that it’s important I’d just rather watch paint dry.
I don't work in compliance, but I work with them sometimes in a different function. Most people already answered the obvious, but I wanted to make a point here that bankers, traders, advisors etc literally create the problems that create the need for compliance rules and regulation.
Anyone notice that year after year, there always seems to be news about some bank or banks that get fined? Also year after year everyone at every bank has to take these internal online trainings, yet it doesn't stop wrong doing. Sounds like insanity to make money only to lose money in fines because someone decided to go rogue even after they took dozens of trainings.
Because a lot of bankers are pressed on time and don’t care about anything that’s not a deliverable
This is like asking why shouldn’t employees be friends with HR
Because many impede good business and revenue generation … they are necessary of course - but many are inclined to say No and impede sales , etc .
I agree with this. I think the general concensus is that compliance seems to be the red tape that keeps people from making money. They are definitely necesary but some people don't seem to agree.
Have you seen Billions? No one likes mommy or daddy saying you can’t have your candy. Compliance has a tough job but sometimes they are a little too cautious same as some traders like to be a little risky.
Haha so true^
Because as bankers and advisors, we are inherently bad business managers and make bad decisions and don’t like when people tell us no.
It’s their job to make our jobs harder.
Hi Ari Spyros
And that's why you use side channels that can't be traced back to you to get sht done