So despite 1000s of underemployed Econ PhD, "this" was SVBs CRO:

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So despite 1000s of underemployed Econ PhD, "this" was SVBs CRO:

Economist
a5fc

I'm a white guy, re/tahd. Your posts are juvenile.

(nervous affirmative action baby detected)

You should take your meds.

Based on the below, it is 107, and I am being EXTREMELY generous here:
"Kim holds a master’s degree in public administration from Harvard University and a bachelor’s degree in political science, magna cum laude, from Santa Clara University; there, she was also awarded Phi Beta Kappa and the national Harry S. Truman Scholarship."

How do you know her i/q? lol wth is wrong with you.
Seems well qualified.

2 months ago # QUOTE 2 Volod 2 Vlad !
Economist
a5fc

fd7c is speaking the truth. What happened here is just a natural result of the pervasive anti-intellectualism in the US. "Anyone can do this job! We don't need the experts!" Turns out you do.

Are you doomb or something? Who was chief risk officer when lehman and bear went down?

2 months ago # QUOTE 2 Volod 1 Vlad !
Economist
a5fc

https://www.linkedin.com/in/michael-alix-0947288

have a nice day, re/ta/hds.

2 months ago # QUOTE 2 Volod 1 Vlad !
Economist
fae2

CRO with zero relevant education or experience. What can go wrong?

2 months ago # QUOTE 0 Volod 4 Vlad !
Economist
0eb3

It simply shows scientific training is not important/valued in the real world. Almost all executive-level officers in all banks did not receive the "relevant" education.

2 months ago # QUOTE 2 Volod 0 Vlad !
Economist
2bf2

It simply shows scientific training is not important/valued in the real world. Almost all executive-level officers in all banks did not receive the "relevant" education.

Lots of bùtthurt PhDs on this thread dunking on an admittedly dùmb, unqualified CRO. Are we supposed to think that they would have done any better?

Some things never to forget:

Outside academia, no one gives a shìt about your PhD. People in industry (banking and finance especially) would laugh at your papers.

Why do you think academic quant training and research capability should to be valued in industry risk management? Industry has its own training and qualifications for risk managers.

Don't complain that this CRO was an AA hire. Academia is the worst cesspool on earth for AA.

2 months ago # QUOTE 2 Volod 2 Vlad !
Economist
efe8

REMINDER: if ur in STEM, "they" literally HATE YOU
https://www.svb.com/profile/kim-olson
Kim holds a master’s degree in public administration from Harvard University and a bachelor’s degree in political science, magna cum laude, from Santa Clara University; there, she was also awarded Phi Beta Kappa and the national Harry S. Truman Scholarship.

Harvard MPA > LRM Econ PhD

cope

2 months ago # QUOTE 1 Volod 2 Vlad !
Economist
2bf2

fd7c is speaking the truth. What happened here is just a natural result of the pervasive anti-intellectualism in the US. "Anyone can do this job! We don't need the experts!" Turns out you do.

The US is not anti-intellectual in the sense you mean it here. The US probably leads the world in requiring unnecessary degrees for jobs that could be done by people leaving high school.

The CRO was probably hired because of her combination of work experience plus Harvard master's degree (among other things like personal fit with the firm's ethos).

And I don't want to hear anyone praising "experts." The "experts" just spent two years shìttìng all over themselves because a flu bug came out of China. There's no reason to think that academic experts would have done any better at SVB.

2 months ago # QUOTE 2 Volod 5 Vlad !
Economist
2bf2

fd7c is speaking the truth. What happened here is just a natural result of the pervasive anti-intellectualism in the US. "Anyone can do this job! We don't need the experts!" Turns out you do.

The US is not anti-intellectual in the sense you mean it here. The US probably leads the world in requiring unnecessary degrees for jobs that could be done by people leaving high school.

The CRO was probably hired because of her combination of work experience plus Harvard master's degree (among other things like personal fit with the firm's ethos).

And I don't want to hear anyone praising "experts." The "experts" just spent two years shìttìng all over themselves because a flu bug came out of China. There's no reason to think that academic experts would have done any better at SVB.

2 months ago # QUOTE 0 Volod 2 Vlad !
Economist
2bf2

fd7c is speaking the truth. What happened here is just a natural result of the pervasive anti-intellectualism in the US. "Anyone can do this job! We don't need the experts!" Turns out you do.

Are you doomb or something? Who was chief risk officer when lehman and bear went down?

PhDs on this thread are just fantasizing about being the CRO and rescuing the bank and US economy with their brilliance. Reality is they teach Econ 101 and a sewing elective at their town community colleges.

2 months ago # QUOTE 2 Volod 4 Vlad !
Economist
2bf2

LMAO. *You* are part of the problem

everyone knows that risk managers like her arent listened to anyways. It's just for regularity reasons. We live in a clown world run by aggressive MBA types who take risks and then want bailouts like crybabies when they s/crew/ up. This is how things work.

Actually, no. This is a good point. In banks, advice from risk management, compliance and legal staff can always be overruled by the decision makers, especially if they have a client to please.

2 months ago # QUOTE 4 Volod 1 Vlad !
Economist
2bf2

Well, her new "qualification" is a smoldering hole of 30billion $ that might take down the economy.
Maybe if there are thousands of underemployed econ PhDs "secondments" to BIS should not be doled out to 107IQ M/I/L/F/s with no quantitative training.

Seems well qualified.

You jealous the BIS didn't pick you?

2 months ago # QUOTE 0 Volod 2 Vlad !
Economist
2bf2

everyone knows that risk managers like her arent listened to anyways. It's just for regularity reasons. We live in a clown world run by aggressive MBA types who take risks and then want bailouts like crybabies when they s/crew/ up. This is how things work.

Excellent point that will be ignored.

2 months ago # QUOTE 3 Volod 1 Vlad !
Economist
02da

everyone knows that risk managers like her arent listened to anyways. It's just for regularity reasons. We live in a clown world run by aggressive MBA types who take risks and then want bailouts like crybabies when they s/crew/ up. This is how things work.

Right. Even if the person was technically qualified, they'll just be asked to sign off on a BS VaR model with a bunch of made up parameters selected so risk takers can do what they want

2 months ago # QUOTE 2 Volod 0 Vlad !
Economist
a5fc

SBW is just a financial institution that took loose money and fed the startup yuppie bubble. Thats how america works. They print money, create financial bubbles that favor the yuppie elite class. They hire these risk management people to make things "legit" but the bubble just keeps getting better until it pops. Rinse and repeat. There willl be another bubble in ten years in some other area of the economy.

2 months ago # QUOTE 2 Volod 0 Vlad !
Economist
a5fc

I dont think you understand how economics works. The fed pumps so much money into the system that these banks have to invest somewhere. It's like a boat filling up with water. What can risk managers say? They will be told to shaddup and come up with some bogus model that justifies whatever the MBAs want.

It simply shows scientific training is not important/valued in the real world. Almost all executive-level officers in all banks did not receive the "relevant" education.

2 months ago # QUOTE 0 Volod 0 Vlad !
Economist
a5fc

Ultimately the Federal reserve is to blame for this mess, like most financial bubbles. The business community puts so much pressure on the Fed to create bubbles so they can make quick money and then bolt when the cheet hits the fan. It's been like that for decades. Things will never change until significant reform at the Fed happens.

Now there will be another financial crisis and the Fed will do what? Inflation is 7%, so they cant print money again. This time there will be no quick fix. Republicans will try to get rid of social security or something. The USA is about to break imo. get your guns and ammo, gonna be wild.

2 months ago # QUOTE 1 Volod 1 Vlad !
Economist
a5fc

CRO has no real power. They are just there to be blamed when things go terribly wrong.

CRO with zero relevant education or experience. What can go wrong?

2 months ago # QUOTE 0 Volod 0 Vlad !
Economist
541e

Pretty shocking ignorance here. A CFO is an executive management role, a PhD does not bring any relevant skills to such a role so why would you expect her to have one or expect PhDs to be better at this role?

2 months ago # QUOTE 0 Volod 0 Vlad !
Economist
28b3

She’s not the CFO. She’s the chief risk officer (CRO).

But, contrary to many posts, she had 30 years of relevant experience, not “none.” That’s a lot more helpful than an econ PhD.

Pretty shocking ignorance here. A CFO is an executive management role, a PhD does not bring any relevant skills to such a role so why would you expect her to have one or expect PhDs to be better at this role?

2 months ago # QUOTE 1 Volod 3 Vlad !

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So despite 1000s of underemployed Econ PhD, "this" was SVBs CRO:

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