To put it simply and directly, if the bosses do not or cannot understand both the risks and rewards in their products, their firm should not be in the business. There may be just one thing riskier than too much risk. The large hit you take next will not resemble the one you took last. The law of the conservation of risk is like the conservation of misery. You can only pass it around, you cannot get rid of it.
Options carry a particularly high degree of risk.
Investing in this area without a good understanding of how options work is like running through a dynamite factory with a burning match - you may live but you're still an idiot. In the current risk management world, the hunt for risk takes three general forms. One is the hunt for treasure - combing through markets for the next stellar investment management opportunity. Third is the hunt for knowledge - forensic investigation of unexpected gains and losses. Risk can't be tamed.