Kweku Adoboli’s (adoboli) Perception

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deluded himself that the trend would continue and ignored any signs to the contrary. The result was that he was caught pants-down when the whole thing collapsed. He had nowhere to hide and paid the price in jail time.

Adoboli also had an ‘Overconfidence Bias.’ Even in this interview, one could tell that he still thinks that he is exceptional. He speaks in a manner to suggest that he does not understand why he is being persecuted for being ‘better than others’. Overconfidence bias leads to people ignoring information or signs that conflict with one’s view (Kahneman, 2011). Adoboli was so confident that he could make the money back that his blinded of the market signals. He believed that he was too capable of being left standing when the music stopped.

Hypothetically speaking…..

My behavior in Adoboli’s place would be different the moment I stepped in the bank. I would be fresh at a large bank, an associate among many others. The first thing I would do is learn the engagement rules in settlements (where he was first placed) and humbly learn the tricks-of-trade. That would include learning the laws that applied and the firm’s code of ethics. It is not a guarantee of compliance but knowing, establishes boundaries. In parallel, I would seek a mentor in good standing whom would guide me ethically as I grew into my role at the bank.

There are two key things I would be resisting; biases and greed I am an entry-associate, so I should not be over-confident in my capacity. I have a lot to learn so I should learn the ropes. I would still rely on judgment with reality checkpoints based on information and data. Avoiding fraud would be paramount for one key reason; as a lowly associate, the bank would not hesitate to discipline and throw me to the authority in protecting the greater organizational interest.