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There are many reasons to cut jobs in Risk - automation, improved detection capabilities, restructure between functions, globalisation etc. etc.  could all be legitimate.

But positioning a reduction in staff because Risk is seen as a 'blocker' to strategic change, sounds like a mangement issue, not a departmental structure one.

If process is poor, then you invest in the systems and capabililities; not remove the folks who have been forced to work to poor process and position them as 'blocking' profitability.

Risk should always be a challenge function.  They should be pointing out the risks from change, as well as those from the status quo. 

Risk is the function that asks the emperor what he/she has done with his/her clothes, when everyone else is congratulating them on their elegance and style.

Either there is much more to this story than is being reported here, or Lloyds is taking a somewhat odd  position. 

I have no idea what Lloyds' new strategy is - but perhaps they should be checking whether things havent turned a little chilly around the rear end....