Can anyone give me an honest, fair, unbiased assessment or insight into the culture of WIM? Particularly the 1st line.
I have heard not so good things, so it's hard to tell what is accurate and what is just opinion. Would you work in their 2nd line?
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@1ehr what they said. people talking about selling off the brokerage are clueless, it prints money. It completely papers over their inefficiencies.
From a WIMT developer view WIM is a dysfunctional mess of manual burdensome bureaucratic processes and it's gotten a lot worse since SVB and CS. They issue directions from the mountain but the execs and managers under them create some new CAB team or another process.
If you have other options I would go that route. The money can be good but eventually you'll be frustrated.
WIM and in particular WFA are a gold mine. No way they get sold off.
If anybody still needs to be convinced that we need experienced competent Risk, Audit and Compliance officers from NYC, I don’t know what will ever convince them.
These Yay-Hoos are thinking about hockey lines or something.
Here's some bank risk model education for you that are asking:
1) FLOD (First Line of Defense) - is front line management, the business and customer facing people.
2) SLOD (Second Line of Defense) - is "Risk." Also called Corporate Risk. Or Independent Risk Management.
3) TLOD - (Third Line of Defense) - is also called Internal Audit. It's the independent audit function that reports to the Audit Committee of the Board of Directors which is why they're independent, or supposed to be.
What does first line or second line mean? And the culture is much better than the bank.
as bad as the rest of the company , if not worse
I would run as fast as you can from WIM and WFA they are noncore assets and are probably next to be sold
What do you mean by 1st line and 2nd line?