Official meeting held today with EBCE and ITV. Consolidating into one testing function within risk. There will be major impacts and a lot to work to make the transition through Q1.
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EBCE was stupid....Nate Herman thing. FLIV (front line issue verification) was even more stupid (another Nate Herman thing).
Thousands of educated, credentialed employees pulled out of Audit from internal and external to build a massive front line 'Control' organization that has no understood vision whatsoever. Its had about 10 different senior leaders preside over it the last 5 years and each eventually jumps out of the dumpster fire while telling everyone how hard it was for them to decide to leave such a great group.
The person running ITV likes building empires.
This is going to be a disaster, EBCE was finally running cycles and now it’s going to be bloated with IT&V crash out wannabe auditors
EBCE was testing controls rated 'effective'; that group is "merging" with IT&V which is the 2nd line of defense function which tests compliance controls (e.g. regulatory requirements). Presumably, the second line will continue to function because it's an industry standard (three lines of defense model); testing of effective controls will move to the front line control (BCM) teams; until such time as they are absorbed/merged with the businesses they support and then each LOB will be doing their own control testing. For sure the entire 'control' org is going to be much smaller...IMO
@d4 IT&V is within corp risk…so there is no overlap. Its the only testing function within Risk.
I don’t know what you guys are talking about! IT&V is great! You sillies
Wow. What a waste of money. EBCE was where careers went to die, so most likely they are first to go.
The amount of overlap between ITV and Corp Risk is laughable and definitely needs cuts. I have to go through one group just to create a template for testing when I can do it myself.
Hey bud, the EBCE-ITV consolidation into one risk testing function is another brutal move in Wells Fargo’s “efficiency” circus, with 40% job losses looming. As a former risk management employee laid off over four years ago, I’ve watched this sh*tshow morph on these boards. The thread’s gripes about ITV’s pedantic inquiries and T&V’s cluelessness (@c3+1k49ashaj, @bk+1k49ashaj) nail how broken risk management is.
To @bw+1k49ashaj: telling laid-off folks to “look it up on Teamworks” stings—we don’t have access. We’re here to understand how this mess evolved, and it’s not just shop talk; it’s about making sense of the abuse. Risk Management’s Evolution: Post-2016 fake accounts scandal, WF bloated risk and compliance to appease regulators, adding layers of .NET apps and SSIS feeds I dealt with back then. But execs turned it into a bullying tool, not a fix. A 2019 Harvard report shows the board was misled by execs like Carrie Tolstedt, who downplayed misconduct, ki-ling trust Pr2016; web:1⁊. By 2020, WF faced over 120 regulatory violations for poor oversight, costing $14.8 billion (bankaccountability.org, 2025) Pr2016; web:11⁊. EBCE tried supporting the front line (@bk+1k49ashaj), but ITV/T&V became time-su-ks, nitpicking irrelevant issues (@cn+1k49ashaj). Execs never trusted these teams—hence the endless reorgs. The 2018 asset cap forced risk hires, but now, post-lift in 2025 (charlotteobserver.com), they’re slashing again, using consolidations to cut costs while bludgeoning managers and ICs with vague metrics. Toxic “Rank and Yank”: This ties to the “rank and yank” system (@OP
+1k3k7enrh). Unlike GE’s Six Sigma, WF’s version lacks KPIs, driven by narcissistic managers who bully via fake reviews to dodge raises and push knowledge transfers to freshers. Cronyism—hiring JPMorgan buddies—fuels a “mob culture,” with risk management as the we-pon to enforce control, not reform. Post-scandal, execs shifted abuse from clients to employees, using risk processes to justify cuts.
Was it always like this? No. Pre-2020, WF had pride (TheLayoff.com, @c1+1k32ty616). The scandal exposed a toxic sales culture (NPR, 2016) Pr2016; web:12⁊, but Scharf’s era made risk management a bureaucratic nightmare, not a solution. Keep posting—we’re piecing this together to move on. Answer the question of @bq. What is EBCE, ITV and T&V? and is SLT a person, place or thing?
@bk both are time su-kers looking for anything to write up. I’m sure there is a use somewhere for them but not in my interactions. Regular audit we all understand.
Thanks, I hate it. IT&V can go pound sand with the amount of productivity they have su-ked out of here over pedantic and immaterial inquiries that go way out of scope, without ever identifying gaps.
if you have to ask then you aren't impacted. Also, just look it up on Teamworks.
What is EBCE, ITV and T&V? and is SLT a person, place or thing?
My first thought when I heard about this was that self ID issues are going to tank and T&V is going to become an official dictatorship. EBCE was somewhat of a pain but at least they were helping the front line. My experience with t&v is that they can't think outside the box much less understand what the business does half the time.
Yup. SLT predicting 40% job losses