- N. Claims there is no hiring freeze in Risk and Compliance. Meanwhile, there are areas in compliance that are down over 10% to 15% or more in business compliance officers, and our managers have been banging on the table for backfills because we REALLY NEED them in order to get the work down, and these requests have been ignored. Why? What gives? Why is she claiming there is no hiring freeze when there are backfill requests that are needed that were put in the queue back in January 2020 and have not been filled. What a bunch of B.S. There is the perception she wants to give to the Regulators, and then there is the truth/reality of what is really happening in the trenches. She is afraid to go over budget because of our CEO even if it is required in order to get the work done right.
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They’re not backfilling some roles because there’s an awareness at the senior risk level that there will be cuts in various areas of risk and compliance and there will be internal talent that could fill those positions instead of them getting laid off. I think this is much for fair to current employees btw. It will take longer as groups are still trying to determine what capacity they need; but it does make sense to wait if we have skill sets that can be leveraged. It’s cheaper to transfer an employee than onboard a brand new one
Let me clue you in to what's happening.
- There isn't a freeze.
- Hiring is happening for critical roles.
- Leaders are holding on to open positions/backfills to use those as part of headcount reductions. Why fire people (pay severance) when you can just cut open headcount?
ID: @1wnj+17jBvhBb to your point, the most recent. ET newsletter listed new resources to ET. Five were in India, one in Hong Kong.
Why is MN still employed at Wells Fargo?
Do a search on India and Philippines. Jobs in risk are going there. They aren’t backfilling bc they replacing over there.
Corporate Risk is a disaster of an organization, as dysfunctional as they come.
And still pushing forward with the misguided hub strategy, despite Covid completely changing the working landscape. These people have no idea what they are doing.
The most disappointing part was hearing that decisions on layoffs have not been made. Please, let me off this sinking ship.
No backfills in IT.
Sounds kinda' frosty to me.