Charlie talked about spans and layers and cutting managers, but clarified he was not going to cut regulatory jobs. Now, he is cutting Compliance Managers who are doing the regulatory work and are the regulatory SMEs. We can all prove that we are not just managers!! That is total B.S. That is not what he told the analysts - he said there were opportunities outside of Compliance to make cuts. Bottom line, Charlie LIED!!!Just because someone has manager in their job title does not mean they are not doing the work and are not the sole SMEs. A lot of the compliance managers Can’t give the work to their direct reports, because they lack the skills and experience to do the work, but up until recently, haven’t had a performance management system to manage then out. In any case, I expect to be laid off on 9/22 and have already reached out to Elizabeth Warren, and others in Congress and will be sitting down with them to give them the low down on what is really going on in Compliance since Mike Roemer was pushed out . I am going to expose Charlie and have put together a network of Compliance TeamMembers who will join me in testifying and exposing the LIES. Also, have proof of being ordered by senior management to make regulatory short cuts and evidence of regulatory violations that will be exposed. We will be blowing the WHISTLE!
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You act like things were functionally any better under Roemer. He put a bunch of new paint on some policies and then listened to his own cronies when they told him that publishing policies meant all the businesses had “implemented”. His 2 years were a farce in regards to real progress. I wish he had at least chosen to go out with a better song. Nananana, nananana, hey hey hey, goodbye!
@1nqu while I agree that people should take control over their own lives, I don’t agree with your comment that seeks to hold employees entirely or partially at fault for putting blame on our poor leadership.
NO ONE IS SAFE! If you get laid off pick yourself up, dust of the negativity and overcome. A company who keeps their employees from the truth is not worth working for.
Take ownership of your life, stop blame the external.
When are you meeting with Warren and the other Senators?
“I’ve already contacted Elizabeth Warren.” That’s all I needed to see to know you weren’t very bright.
@dcs+171xVJJI Congrats for being the only honest person at Wells Fargo! Appreciate you bringing your strong sense of honesty and humility to Teach is all how to be better boys and girls.
Compliance does not equal one for one regulatory work. I have seen several instances where this “critical guidance” changes in what only appears to be a reach to keep someone important longer and cover bad information before provided... regulatory commitments met only happens when not in endless cycle of comments and resubmits with SLAs. If there are concrete examples do what is best for you and your judgment. I would question why this broader network would only now reach out to Senators only when potential of being laid off? Where was this fire earlier?
This is what Charlie said regarding the work towards regulatory requirements in the 2nd quarter call:
“As I've said, and I'll say it again, we will not do anything that will impact the work we have under way to build out our risk and control environment. The opportunity to become more efficient exists elsewhere in the organization, and we will protect this work at all costs.”
IMO, it is open to interpretation. probably deliberately so.
Good luck, OP. I’m for anyone/any group who brings the truth to light. Stick to the facts and try to keep the emotion out of it, as this will make you more credible. Get as much proof as possible in writing 😉.
Whistle blow all you want. Better have good solid evidence. At your supposed level you won’t have anything worth a salt.
He said our regulatory commitments were top priority. He didn’t say anything about not cutting regulatory related jobs. Newsflash, just because you are in compliance, it doesn’t necessarily mean your role is tied to existing open regulatory deficiencies. Go away troll.
I work in compliance and my manager does just as much work as his reports and he also does a lot of heavy lifts across the greater team because many of the people we work with lack basic skills like organization or the ability to make decisions. If he were to get cut on 9/22 there would be a big hole and I know I’m certainly not at the level where I can take that work on. I know this isn’t the case with some compliance managers but it sounds like the people making the cuts aren’t going to be looking at a case by case basis.
It’s debatable how much of the so-called regulatory work was needed. Gobs of stuff was being done that had nothing to do with the problems outlined in the cease and desist for the asset cap. Loads of pet projects and utter nonsense slid through because “it’s regulatory”.
Yep
They are all liars. I have yet to work with someone at WF that isn't a liar! LOL! Some of them are even pathological liars. Those are fun to watch, because they have so much trouble keeping track of all their lies! They have to start writing them down on post-its!