Our Chief Risk Officer is NOT BACKFILLING essential compliance jobs, so compliance monitoring work that is required to detect control weaknesses and violations is NOT happening. M.N, did you hear that? Essential and required work is not getting done because we don’t have enough resources. Our senior managers are blocking our requests for backfills because they know they will not be approved and they are afraid to bring the requests to our Chief Risk Officer. Backfill requests for Compliance were never declined in prior big banks that I worked for, especially when there were consent orders.
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they really need to lay off maybe 20k people this year; wonder why they havent done it yet? Comany in major distress, if they dont the whole place will sink
I heard that they are going to lay-off all of the managers who report to SVPs in November in Compliance, and the SVPs will be forced to manager like 15 individual contributors! There are going to be compliance violations all over the place.
Compliance is a total disaster, no direction , no progress in 4 years.
So we should always be mindful of risk, but the company refuses to provide the necessary resources to actually manage the risk. Where are the regulators??
Good, the people that are there need to start pulling their own weight. Way too many people there now and highly inefficient.
This is interesting. Same thing happened at the CROs prior employer. Replacements would sit in the inbox for approval for months. No hiring freeze, but posturing to make the CRO look good...under budget etc, but also to minimize pain from potential mandated cuts. I found that critical roles were approved on a case by case basis. I’m no fan of the CRO, mostly because of the CROs far left leanings and witnessing how that impacted others’ careers, but I’ll say that slow walking new hires is better than hiring then mass firing.
You have new leaders starting like right now don’t you?
Until Dominick decides her org structure, it would be strange to fill roles.
They are back-filling with Indians. Hiring surge in India right now.
I wouldn't worry about it. Just do your job and go home. It's all you can do.
LOL. I’m sure regulators have a full staff reading and monitoring this site