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How many bankers does it take to change a lightbulb?

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Eight of course.

One to change the lightbulb.

A second to assess the risk of the light bulb changing process.

A
third to ensure the light bulb changing process adheres to the internal
compliance regime for health and safety during light bulb changes.

A fourth to ensure that the internal purchase order procedures have been adhered with for light bulb change orders.

A fifth to audit the supply of the light bulb following the internal purchase order procedure.

A
sixth to report back to the compliance and risk functions that the
supply and audit divisions had complied with the light bulb change risk
and compliance procedures.

A seventh to monitor that the light
bulb was changed by a member of staff who was cleared by the banking
union to be authorised with light bulb changing management.

And an eighth of course.

This
person is responsible for costing the light bulb changing process and
being creative enough to incorporate the pricing of the eight people
into the customers' monthly billing statement without the customer
noticing.

That's processes folks ...

RegulationCategories
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Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

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