Tan Kin Lian's Blog: Taking full responsibility

Wednesday, July 14, 2010

Taking full responsibility

The CEO of DBS Bank said that his bank will "take full responsibility" for the 7 hour failure of ATM and other banking services. What do these words "take full responsibility" mean? Is the bank giving monetary compensation to their customers who have been inconvenienced by the failure of the services? Will they be making a big donation to charity or paying a hefty fine?

In Japan, "takes full responsibility" means a full public apology followed by the immediate resignation of the president of the company. In older days, the responsible person is expected to undergo harakiri, a painful process of suicide by cutting off the stomach.

In Singapore, it is easy to utter these hollow words and there will be no consequence. I do not wish to have anybody punished seriously for an unfortunate mistake, but I wish to see credibility and integrity - and that words that have been uttered should coincide with appropriate action.

Tan Kin Lian

17 comments:

Anonymous said...: The statement is issued by a 'puppet' and these words 'take full responsibility' is just a 'puppet show'. Accept the fact that the taxpayers have been paying 'magic figures' of multi-millions for the monkeys for years. It's about time that we must take a position and put a stop to it. We owe this responsibility to our next generation.; July 14, 2010 7:36 AM
Anonymous said...: Rex comments as follows,

Consider ourselves lucky that high elite person like your friendly "Piyush" as he so signed off, had said a statement like "take full responsibility".

He could have been worse and blamed it on "one in 50 years occurrence", blamed it on Singaporeans, or even declared that software bugs always exists in any complex business systems in the industry, don't be champion grumbler blah blah..

One small step ahead (even if he didnt offer to resign). OK, ok, as a regular customer of DBS Bank, i accept the apology, Piyush.

Some day maybe our government learns to speak like Piyush.

A figment of my imagination: "Oh singapreans, forgive me for the twice occured floods, there is definitely something dreadfully wrong, it should not have happened, the rain was nothing unusual, i don't know why this should happen, i will order an indpenedent probe chaired by Academics and external experts, and ensure that businesses may be compensated if necessary, and that the floods will never happen again when the rains are just merely one hour in duration; best regards, Hsien Loong.
Just a crazy dream only.

rex; July 14, 2010 8:12 AM
C H Yak said...: In this case, the CEO is "taking full responsibility" ...because it is a "private bank" ... because the shareholders could be "blamed" and indirectly take responsibility; it is also unlikely that the affected would be compensated.

The admission of responsibility is in "syn" with the earlier failure of the bank regarding the structured products ... where it had to put blame on the investing public...since the Bank would have to bear huge losses or pay much compensation ... and would not want to take responsibility.

But we seldom hear the Govt & Authorities behaving this way.; July 14, 2010 9:07 AM
Anonymous said...: I wonder why such quick reaction was not use during the Minibond and Pinnacle saga?

Maybe it's only applies to easy problem. Structure Notes saga is too difficult for the millionairs from DBS and MAS to handle.

Then, why pay them the $millions?

The answer to pay MAS chairman and deputy chairman $millions is Goon-do Singaporeans who gave them the 66.6% winning margin and then the paymaster believe that it is equate to salary increase approval.

We have ourselves to blame. Simple as that.; July 14, 2010 9:07 AM
Tan Kin Lian said...: It is easy to say "I take full responsibility" when you know that there is no consequence.

If you do not wish to takeanyconsequence, just say "sorry, this is our mistake".; July 14, 2010 9:14 AM
Anonymous said...: "Take full responsibility"

How do I want DBS to do this?

1.Giving monetary compensation to customers. Yes.
2. Make a donation to charity. Yes. Don't they do it every year? If not they should.
3. Pay a fine. No. I don't want it to go to somebody's pockets when its us who are inconvenienced.
4.Resignation of CEO. No need. He has to see to it that DBS "take full responsibility".

Please don't issue words of apology and then no action.; July 14, 2010 9:19 AM
Anonymous said...: Oh Look!
You have now identified the problem. Well done!

Time to reward yourselves with another pay rise for identifying the cause of a once-in-50 year computer glitch.; July 14, 2010 9:30 AM
Anonymous said...: It was machines that brokedown. How can that be compared to the minibonds which were human schemes. It is a world of difference when comparing them. Ultimately, the Machines and the Company get blamed, there is no need to hold any individual accountable for machine breakdown.
To be comforted just because someone in high office apologised is to be moron. If those incurred losses due to the breakdown are compensated, then only can we say that it is sincere if not real apology. Or, at least behave like the Japanese.; July 14, 2010 10:15 AM
Anonymous said...: Well Mr Tan, are you suggesting Mr Gupta to resign or commit "hara Kiri", Japanese style? Ok kidding.

This is Singapore, and we have our own style of "taking full responsibility".

The full sentence should be "I will take full responsibility but it is an honest mistake. There will not be any witch hunt here so let's move on."

As what Rex had said, at least he never put the blame on their customer, saying that they should not solely rely on machine but to keep some cash blah blah blah......I think our ministers have a lot to learn from Mr Gupta.; July 14, 2010 10:29 AM
Tan Kin Lian said...: Reply to 10:29 am

I don't have the power to demand the DBS CEO to resign or commit harakiri. I only want to ask what he meant when he said "I take full responsibility". It is easy for anyone to say these words, if there is no consequence.

In a separate posting, I said that we need to have a tolerance for failure, especially if it is unexpected and unfortunate. I don't think that we need to over-react to this failure.

I am not tolerating any lax attitude either. I am only asking for a balanced approach.; July 14, 2010 11:27 AM
Anonymous said...: In Japan such mistakes require CEO to resign, in China he is fired on the spot. In Singapore, we not only do not accept responsibilty, the finger is pointed at someone or something else, he is always not at fault. Even Govt officials behave this way, so the people just follow the bad example.; July 14, 2010 12:18 PM
Anonymous said...: It is meaningful only if that DBS CEO said that he takes full responsibility and then forfeited 50% of his next month pay together with the top management in-charge of IT or some thing.

Otherwise, can the HR professional out there please create a post for "manager of accountability" who job is to be the scape goat and declare in public that he takes full responsibility when things screw up in the company.; July 14, 2010 1:16 PM
Anonymous said...: in spore, if u low level employee, taking responsibility mean u kena screwed and u lost your job. likely the few direct employees may be 2 levels will be fired for changing the hard disk. for higher up, nothing will happen as sinapore is short of talent, we can not afford to fire them but to move on.; July 14, 2010 1:25 PM
Anonymous said...: This is a serious lapse and can words like "take full responsibility" be adequate??
Who need words like "sorry" and "take full responsibility"??

What happened to Mas Selamat now?
Where on earth a criminal of this nature can disappeared and landed in our neighbour country?

This is a case of not just ATM failed to dipense monies;It is a matter of how secure is the whole banking system and all financial institution in Singapore.Not because that it is a computer glitch?The layman wants security with their hard earned monies in POSB.
SINGAPOREAN need an answer.

a teacher; July 14, 2010 4:07 PM
Anonymous said...: anon. July 14, 2010 4:07 PM.
remember the Merlion kena strike by lightning now things are showing signs like the Great Singapore Flood / SMRT vandalism /
Bank Computer glitches and what more to come?

2012 also coming...............

Tungki; July 14, 2010 5:16 PM
Anonymous said...: No brave words on High Notes 5 failure? My guess DBS do not have to pay a single cent in this case.

So, for high notes 5 investors, do not dream.

Talk is cheap these days.; July 14, 2010 8:20 PM
Anonymous said...: As long as you are a Singaporean, you will be treated like one i.e. 2nd Class Citizen.

i) Retrenched at Middle age [PMET], hard luck. Take up low pay job and compete with foreign workers. KPI for Govt is GDP i.e. Good GDP = Good Ministers' pay.

ii) Got nothing for DBS HN5? Sorry, MAS said not their problem and you are not from Hong Kong. Just eye big big and see how DBS play Santa Claus using your money.

iii) Another 100,000 foreigners? It is worst than flying kite, give some and take back alot.; July 15, 2010 9:47 AM