A few years back I was told all divisional security and operational consultants would be consolidated under the corporate risk team. I don't know what happened with that.
Are all divisional security and risk people under corporate risk? How is it structured? Is it going well?
What Charlie knows about the deep nuts and bolts of compliance is that a lot of big companies like SAP have spent a lot money making technology products to do it for you in the cloud and it makes tens of thousands of employees redundant. He doesn't know anymore much more than that, and to be honest, he doesn't really need to. He knows he's gotten it done at his previous stops, and he knows it can be done at WF, and his just has to hire the appropriate cronies, many of whom he's already familiar with to marshal the work.
I completely agree with this post. I have a ton of regulatory experience at the big banks, and am stuck checking boxes. We add no value to the business. Have tried multiple times to add value but current manager threatened by my experience. I know my manager is trying to save themself by aligning with the right people, not because they have the leadership and experience to fix things. God knows my manager will survive. I am realistic about my likely fate. Sad but true and nothing else I can do.
The head of compliance failed to answer the one question everyone knew was coming....layoffs. His answer was a bumbling mess first stating he had no idea followed by sayinf he knew changes were coming. He only grew his compliance empire to epic proportions with no substantive change or value add. Now folks who probably are capable of adding decent value will lose their jobs due to another poor management hiring strategy.
Yes if there are duplicative efforts I see why but risk has had a lot of dead weight as far as I could remember in the last 15 years and longer.
The head of Compliance had an all Hands Call last week. He talked about being asked by Chuckie if Compliance needs all the head count. He noted that there are a lot of people doing duplicative work and hinted at consolidation and efficiencies/layoffs by end of Q1 2020/early Q2 2020. He reports to Norton. Hold on to your hats. 2020 is going to be a wild ride! No one is safe and it is just going to go downhill under Chuckie.
Now that we know that we’re stealing patented technology from USAA I’d say that at Wells Risk is rolling along with business as usual.
Risk has and always been a disasteron the corporate and divisional sides I assume nothing changed.