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in financial services everything you can possibly doing for your regular job has an approval chain (often consisting of at least 3 people) install notepad++ fr
by blibble 3y ago
in financial services everything you can possibly doing for your regular job has an approval chain (often consisting of at least 3 people)
install notepad++ from pre-packaged store? approval needed
change to mailing list you own? approval needed
1 line config change to production alerting system? 8 approvals needed
I can easily imagine people just clicking Approve sometimes without reading
- Aurornis 3y agoI feel like I’m missing something from your post. Are you being asked to approve several large financial transactions per hour in your job as a software engineer? Regardless, approvals for multi-million transfers require a higher level of process and approval.
- blibble 3y agoI think you underestimate the scale here, a "multi-million" dollar transaction is something that happens tens of thousands of times a day > Regardless, approvals for multi-million transfers require a higher level of process and approval. if you say so
- cjalmeida 3y agoMaybe, but those multi-million transfers are usually going to known trusted counterparties (other brokers, bank treasuries), not random vendor accounts.
- ponector 3y agoAnd then you hear stories like that one about french trader Jérôme Kerviel who did unauthorized trades with 5 billion losses. And many more stories like that. But yes, for small fish there is an approval process for everything, even to but a paper clip.
- blibble 3y agocontrols applied to traders are very different a common thread in these modern rogue trader scandals are that the perp worked on the controls or monitoring system in a role prior to becoming a trader so they knew how to structure their trades in such a way to evade detection