Thread regarding Wells Fargo & Co. layoffs

So many of us questioned the movement of systems and operations to India. No only does it cost far more money than the “savings” in increased project management, oversight and U.S. cleanup and rework, there are the people.

India is largely Hindi and Pakistan is largely Islamic. India and Pakistan are in a perpetual war in Kashmir, which is driven by Pakistan . India has no equivalent of U.S. tax ids (soc sec Numbers) and we at Wells do not actually know who are working for us or even their true names. This is insanity and only a matter of time before we are compromised. Why not outsource to tech to Poland and zoos to Ireland?

Bingo! WFC was, and still is, a top-down management hierarchy. They don’t place any value on feedback from the people who are doing the work. All the “risk-management” is just window-dressing to satisfy the regulators. They are focusing on Problems A and B, while C through Z are small flames waiting to burst in to raging wildfires.

I have never put any value on the concept that a good manager can manage any department. Wells Fargo is the premier example of this not being correct. A manager needs to know the ins and outs of the area he/she manages in order to minimize risk, manage a crisis, fight for the right technology and problem-solve.

@fxx

Typical WF mgmt - always YOUR fault that as managers of their function, they don't know abt issues. Not theirs.

We hope for medium to large errors in our department. It’s the only way managers ever pay attention and get processes/technology fixed. They either don’t want to be bothered, or they know it won’t ever get anywhere on the miles long list of system enhancements. But a good sized error takes care of all that.

So to protect myself, I email a list of risks and concerns about current technology issues, process issues etc. to my managers. I tell them about all the manual work arounds, and I make suggestions to mitigate the risk. I keep it updated and I follow up. And keep it all on file. I started doing this after one time when they said we never told them about a certain technology problem and then said we should have been more aggressive in getting their attention. Okay, lesson learned.

I hope an incident 10 fold happens at WF. It's ridiculous to think you can outsource critical jobs to people you wouldn't hire to park your car, just to save a few bucks. This is the only thing that will change the thinking of BoDs and CEOs. Make them feel it in the pocketbook and from the regulators.

My 13 year-old could have seen that one coming, though not that big. Wow.