LectroBank International is a New York based firm which provided financial solutions to other firms. The company had had operations related to managing financial products and providing baking services.
The structure of the company was such that the operations for the entire bank had a single reporting line to its own policy-level senior executive. In the hierarchy Greg Paley and two other division heads were responsible for handling the operations and reporting back to the EVP. The department basically had about 300 officers and clerical staff who were responsible for transaction processing activities pertaining to the delivery of credit and cash letter delivery services and loans.
The business process was such that funds transfer was activated when the customers request for a transfer was delivered to the customer’s account officer. This could arrive by mail, phone or any other communication medium
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