In the type I used to fly there was an engine failure brief pror to takeoff , from the Captain at high weights, that included the phrase directed at the FE (me) , "in the event of an engine failure bleeds and dumping will be automatic" , even at low level we would try to lighten the aircraft to improve performance on three engines as we were often pretty tight . With a gut load of fuel 10 dump pumps got rid of a lot in a short time .
Obviously if the wing was on fire we wouldn't dump .
At lower weights the FE's engine out brief include the phrase " Bleeds and Dumping are available" to remind the Captain that we could improve our performance.
Personally I resolved that I would rather dump fuel on someones house than dump an aeroplane on their house.