People

The survey of industry practices examined the involvement in the derivatives activity
of people at all levels of the organization and indicated a need for further development
of staff involved in back-office administration, accounts, and audit functions, etc.
Respondents believed that a new breed of specialist, qualified operational staff, was
required. It pointed out that dealers (large and small) and end-users face a common
challenge of developing the right control culture for their derivatives activity.
The survey highlighted the importance of the ability of people to work in cross
functional teams. The survey pointed out that many issues require input from a
number of disciplines (e.g. trading, legal and accounting) and demand an integrated
approach.