Friend of my worked in banking for many years. Came up with a clear process and policy for illiquid FX trades. Part of the policy was that the counterparty bank

Friend of my worked in banking for many years. Came up with a clear process and policy for illiquid FX trades. Part of the policy was that the counterparty banks needed to be separate from the FX currency pairs. People in another branch applied the process to trading rubles. Made a ton of money. Until a crisis hit; turns out the counterparty banks were all Russian. Position went to zero basically immediately, all prior profits zapped, and some uncomfortable conversations occured. The other branch was upset, they thought they'd followed the process. But they'd missed an important aspect of the policy doc. Point is: Sometimes short-term results get favored over process, this can be equally dangerous.