I am part of a Control team that had its MTL take place Sunday to move many of us to a front line business team. Today the obligatory 'welcome' letter came out. Turns out my new manager is only going to be so for an interim basis. First I heard of this. Makes sense (now) why he never reached out two weeks ago when it was first announced I would be aligned under him.
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- We can’t fire too many people in risk and control.
- Moving risk and control people to business teams (e.g. COO/CAO) obfuscates that fact when they’re let go.
- Per NH’s plan for control, and the previous multiple leaders of control not collaborating with each other/having a clear vision, many functions currently/formerly in control no longer belong there.
- MTL encourages appropriate risk ownership by the business proper, and they generally do need more resources than they currently have to do so.
- This is much more my opinion than the previous items. Many of the people in control being moved to the business, don’t actually understand the business well enough to do their job in a meaningful way. They should be laid off, consolidated when duplicative, or ultimately be replaced by individuals with the appropriate knowledge and skills in the cases that they can’t do the nitty gritty Risk ownership/mitigation work for the biz proper.
MTL=move the lines,
Perhaps a dumb question: what’s MTL?
i too was recently reorganized in a typical, what i call the Half-Baked WF style roll out. New mgr is "temporary", there was no plan to transition us, we were actually told "make your own transition plan". The top execs constantly pronounce major changes (agile run the bank change the bank ad infinitum) but they have no idea how to execute.
The MTL in the control / risk areas was confusing. No info until Friday as to where people were going, who they would report to and what take jobs would be moving. This week we are moved but very few answers or understanding about what our roles will be and work done as backs up and owners would split as well as the approval chains. I expect confusion for quite some time. Heading into year end this doesn’t seem good.
@1zxh+17pKRLyZ
{Transparent} You keep using that word. I don't think it means what you think it means.
I went through the same thing happen this weekend.. today I learned that I will find my “real” manager in a few weeks... why does it sound like there is going to be a round of layoffs in control before anything is really finalized?
He has been EXTREMELY transparent? Are you on some newsletter list the rest of us aren’t? All that I have learned is from only from the news and this board. Unlike most CEO’s, Charlie does not communicate directly with his own employees. Especially in a time of supposed corporate transformation.
They have been extremely transparent... Hold on tight and don't let go...
welcome to the club. same thing happened to me in another MTL exercise - both who I report to and people that report to me. it's such a cluster.