The answer there, clearly, is to not have an individual be a potential SPOF. If failure of that kind of support costs millions of dollars, you absolutely need to have the ‘walked in front of a bus’ scenarios worked out.
I'm not going to post details in public, but suffice to say, you are over-simplistic and don't understand the context.
Sticking with my example of dealers, let's just say people like dealers are not employed in great numbers in all but the largest financial organisation. Let's also say that there are certain events and certain times of day when the entire dealing desk is, shall we say, "busy and stressed out". There is little scope for a colleague to step in at those times, because everyone is franticly busy on the phones with their own workload.
In terms of 2FA therefore, the "walked infront of a bus" scenario is to (after correct security protocol, which includes, but not limited to, senior board-level management and compliance being told and approving) temporarily bypass 2FA for that dealer. Telling the dealer to pass his work to a colleague is just not going to work.
Of course financial organisations have "walked infront of a bus" plans. But they equally have levels of escalation of plans. Sometimes doing stuff at lower level with the help of the IT department is more than sufficient.
I'm not going to elaborate further.
That just sounds like optimizing for efficiency over redundancy, which is a trade off you can make, but not one that is required. Financial organizations could hire more dealers so you don’t have “little scope” for others to help out. Or they could staff an IT group that is open 24/7 ready to help these traders instantly.
- hire more dealers ($$$$$$$$$) - staff an IT group that is open 24/7 ($$$$$$$$$) - bypassing MFA ($)
Not sure if you are being serious that the other options are comparable to the 3rd for a business
Honestly if they are going to just skip MFA everytime it’s a bother they might as well just not use it