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A comment on What does Silicon Valley Bank’s collapse mean for the financial system?. Parent comment

Re:What does Silicon Valley Bank’s collapse mean for the fin... by unclesaamm on Friday March 10, 2023 @08:32PM (#35104090)
Well, to answer one part of the question, the chief risk manager quit early last year and wasn't replaced until just over a month ago
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Re:What does Silicon Valley Bank’s collapse mean for the fin... by AnimalMuppet on Friday March 10, 2023 @08:44PM (#35104189)
Is it normal for a bank of that size to run without a chief risk manager for an entire year?
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Re:What does Silicon Valley Bank’s collapse mean for the fin... by g42gregory on Friday March 10, 2023 @08:54PM (#35104271)
Generally not, but there will always be someone (next in line) who is responsible for the overall risk management. I think the problem was, once they discovered this mess, there wasn't a whole lot they could do, with rates going up. They could have booked several billion dollar loss early on, but instead, they decided to wait it out.
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