Reflection On Work Decision Making

WORKPLACE DECISION MAKING- MY REFLECTION 'S

Dealing with ambiguity comes naturally to us humans, and it starts with learning our first language as an infant. The effective decision making is an iterative learning process acquired by relying on experiences from our own past reflexes and also learning from those of others. The past couple of years presented an interesting mix of challenges in my workplace, including complex projects with tight deadlines, budget cuts and building out teams at short notice later. One such project involved automation of calculations for economic risk capital, which is a loss buffer maintained by banks. This the project involved principal component analysis to isolate the key risk measures in interest rates and create scenarios for Monte-Carlo simulation of losses incurred by the bank under severe market conditions. The complexity of the project arose from the daisy chain of dependencies, which needed to be risk mitigated to avoid risk to the overall project. I worked with all the key stakeholders, segregated the requirements which were clear for the front end, approval workflow, and calculation components from those requirements, which needed additional time to document and scope out. I came up with a phased approach where the complex time taking component was replaced by a proxy with interim pre-calculated input as part of the first phase. I pulled in another BA to gather requirements for the second phase in