So do Barry and Nate really think this new risk process is effective? They shove people into spots who have never done the job before, provide no real training beyond pie-in-the-sky decks that are 200 pages long and have them "guess" if data is applicable. While common sense questions like ok you want me to send this - but to whom??? You are supposed to filter - just guess what applies to the business and they will let us know if correct. Haven't we shown that doesn't work? Self assessment allows the business to hide things when the people who pull the data aren't trained and don't know if the business is telling the truth!
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I wonder is KPMG is back at it producing decks at $300 per hour. Watch out for anyone for KPMG background/experience - these are the openings or those who are brought into this company in the process.
Good to know some things never change at Wells...
It starts at the top and George K is the problem, my team has had several serious audit findings that we tried to wrote up on control testing that were clearly issues, we were told to change our work papers and mark them as effective… we’re not allowed to have any observations now, they changed it to “observations”. They are sweeping so much under the rug!!!!!!