This place has gone mad with the concept of the "approval". Emails asking for approvals. Systems asking for approvals. Emails asking people to go into Systems to approve. Control, IRM, FLIV, Leadership - a cast of dozens of people need to approve everything anymore. Most have no idea what they are even approving or why. When asking about it, being told "it's just the next step in the process, go ahead and approve it so we aren't late, we can change it later". Great approach (eye roll). The amount of time spent checking the boxes is absurd!
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I think this is intentional for the new control stuff
It really went to India I think and late 2023.
Oh god yes. This audit and reporting has taken over my job. On many days, it IS my job.
We must hold ourselves accountable; the problem is—this process is not managed, in any way. Anyone in the company, from Charlie to the janitor in Minneapolis, can pull the emergency brake on your other work by saying “Hey, we have to TEST you, make sure you don’t have a GAP!” I proposed putting a process in place to govern this activity, with a service level agreement for responses . . . management wouldn’t even discuss it.
@lrt+1tMvAe6D - “be happy” what a joke ! you have no idea what a sensible business process looks like.
Be happy there are some things with actual approval instead of half assed or non existent processes where you never get a yes and many are hung up on minutia, risk aversion or not even getting an answer one way or another
And yet here we still are, still drowning under an asset cap.
the change request process is the most ridiculous, convoluted id--t thing ever. they do nothing but react to every prod issue - don't change the root cause that the ENTIRE process is a sh*tshow. they just throw more and more regulations and process on top of it. its amazing any code gets anywhere in this madhouse
There is an army in op risk, compliance and controls dedicated just to invent this nonsense. Then these processes provide fake jobs to thousands of people who su-k time and energy from thousands and thousands more. There is further governance and testing on all these steps with issues being created on process to create issues and RCSAs. The cost of it all is staggering. It is mad and no one on operating committee has a clue on how crazy it is. The bank has completely lost its way with risk and controls while lots of people have gotten rich along the way. Shame on our management team for being total id--ts.