Everyone in Risk is going through a remapping of roles, ORC4's are now Associates, ORC 5's are now Risk Officers, bonuses cut 10% for ORC roles, some are seeing a small increase in annual salary but ALL are seeing a cutting of bonus. My number came in yesterday, my net gain given best case scenario of a full bonus (which never happens) was a $3.00 over the year increase, yes, $3.00 raise but now they can gut 10% from EVERY bonus.... Wells Fraudco continues their race to the lead of finding new ways to screw your employees.
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process is now happening in information security under CISO. being asked to fill out spreadsheets on roles and what people do.
Anyone working in Risk over the past 15 years at Wells Fargo should certainly be evaluated, and not simply for a package increase... no, it should be to find how they missed these numerous scandals. How do these people complain? These are plum jobs for connected people but the actual work needs to be done and it demonstrably was not.
Denial and delusion abounds on this board.
Mike Roemer sent out an email a couple of weeks ago about organizational changes in Compliance. In the email, it mentions efficiencies and duplication and moving toward a consolidated Compliance infrastructure. Does anyone know more about what they mean by this? Are they looking to consolidate aspects of compliance? If so, what’s the timeline?
The risk management team at Wells Fargo is a mess they say they do risk management but are risks themselves.
With Cheapskate Charlie at the helm, this boys and girls is just the beginning of the end. Get out while you can because this is the snakiest of snakes. No coincidence how his minions seem to bounce with him wherever he goes. I don't want to say I told you so, but.............!
Went through the retitling process last year and our group got a one-time bump in base comp to make up for the lowering of the bonus percentage.
The bonus structure needs to go - very subjective. The last 5 years at Wells, my overall comp went down each year due to the way the bonus was being paid out. Finally got tired of that (and general culture) and left the company this spring.
Looks like bank isn’t paying contractors. Really has a high level of integrity in this company.
I know I am moving my money to another bank and know many others too doing the same. Hopefully they haven’t been stealing from me too.
Over the last 6 months, compliance has become a culture of fear. I am so glad I am in the financial position to leave. I think it will get worse as there is more pressure from chuckie to clean up the regulatory mess. Then, they will use layoffs to reduce headcount. They are trying to push people out by pips, so it stays under the radar with the regulators. Swimming with the sharks
The manager in our group is a head case. He plays games and tries to make people unstable.
Someone should report him to the authorities. They hire trash here.
By the way, I am rich, and plan on dragging them all to civil court if the eeoc doesn’t pick up the case, and I will bleed these a–holes dry. They will be bagging groceries at piggly wigglies for the rest of their lives. They picked the wrong person to piss off. Also, they don’t give a hoot about diversity and inclusion. It is all lip service.
I complained in March 2019 to the lady who was just promoted to deputy director of compliance of gender discrimination, verbal abuse by boss, preferential treatment of male colleagues, overloaded with work. It was investigated by hr. Boss got informal warning and diversity and inclusion training. Boss was on best behavior and then all hell broke out when hr case closed. My boss, his boss and lady promoted to deputy director of compliance all plotted against me. They assigned me work that was duplicative with another compliance team in my group. They were going to lay me off this coming Thursday, but I got wind of it. This is part of the so-called mapping exercise. Last week, I learned thru the grapevine that the sharp work my team was being centralized at wim level. I asked my boss about it and sent email to him about it. He asked me to call him. When I did he yelled at me, and threatened to put something in my performance review about not dealing with change and needing to be adaptable and flexible. I documented all of this. 90 pages of documentation and handed it to eeoc and my lawyers. They are patient and will find a way to get rid of you if you are threat. These people are lawyers. They know how to paper emails, how long they need to wait between complaints and firing and laying people off. Please reach out to me if you are having same issues and we will band together
They are definitely committing age descrimination. But as scummy and skilled corrupt companies do, they are cloaking it in other things (PIPping people, papering people, to try to justify terminating for cause instead – so no severance or unemployment benefits). It's blatant and low.
This company is circling the drain. Break it up, Mr. Scharf!
I thought i was the only one who has gone through this.
They are a shortage of qualified risk candidates across the organization, I don’t see layoffs in risk anytime soon.
The compliance department is so toxic! Management be fear!
Does anyone know if they are going to lay-off in risk or compliance? Or are they just consolidating for now?
To the person who went to EEOC - you go get ‘em.
They did this to the project manager job title a year ago. It used to be that you could be a PM1 up to a PM5. Now it's just 1,2,3. The explanation given for this was that it somehow saves money even though they allegedly didn't cut anyone's pay. Probably just trying to squeeze out opportunities to make more money by changing jobs. In my mind its just another way to make people angry while really not accomplishing much else.
I had my 2 hour long interview with EEOC this morning, based on age and gender bias and the agree and are filing charging papers against the firm.
The only position w a major bonus cut was the 5 level.
The only position w a major bonus cut was the 5 level.
Yes, I filed a hr complaint for discrimination 8 months ago. Now, they are trying the you are not adaptable and flexible routine. I just filed with the eeoc for gender discrimination and retaliation.
Anyone experiencing a wave of older employees being pushed out the door via PPP's and "inabillity to adjust" to new processes?