How Unanimous Decisions Can Hurt Your Bank
Many banks have a formal or informal expectation that certain decisions need to be unanimous. We often see this in credit committees, strategic planning sessions, hiring decisions and operational moves. If you find your bank committees often achieving votes where 100% of the members agree, chances are you have a flawed system. While unanimity in decision making seems like a positive attribute, we will show you how it counterintuitively leads to more risk, not less.
