Financial Risk Manager Part 1
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While working on a risk report, two senior risk professionals made the decision to forego automation and fill data entries by hand. The two made that decision after a brainstorming exercise alongside other junior employees. In their report, the pair gave details as to why it was necessary to forego automation and why they had full confidence in the accuracy and integrity of the data. This scenario describes a:
Other
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A
The justified exception to the principle of accuracy and integrity
B
Breach of regulations
C
Manual workaround
D
Breach of confidentiality
Explanation:
This scenario describes a manual workaround because:
- The senior risk professionals consciously decided to bypass automated systems and use manual data entry
- They conducted a brainstorming session with junior employees to justify this approach
- They documented their reasoning in the report, explaining why automation was foregone
- They expressed confidence in the data's accuracy and integrity despite the manual process
This represents a deliberate choice to use manual methods instead of automated processes, which is the definition of a manual workaround. While they attempted to justify their decision, this approach still represents a deviation from standard automated procedures and introduces potential risks associated with manual data handling.
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