Scott Case is to blame, absolutely clueless technically person in charge of It
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As someone who VSRP’ed in September, I was astounded at the arrogance and Ignorance of hSTI senior management. That said, the hBBT management would go far beyond what the regulators required and that ki---d business lines. Put both together and it is a disaster.
First off, I think we all can agree on the fact that the majority of processes from both legacy organizations were in need of upgrade at merger. But, as we were doing the system evaluations, I noticed a recurring theme.
When a particular legacy BB&T process showed redeeming qualities, it was quickly dismissed out of hand by hSTI. On the other hand, I was part of week(s)-long evaluations of legacy STI processes that even the STI employees admitted were terrible! It soon became very clear that the evaluation process was a farce, and SunTrust viewed acceptance of anything or anyone associated with BB&T as a sign of weakness.
The more I observed, the more I realized this toxic mindset permeated all ranks of SunTrust - so it was obviously coming from the top. Not good. Truist is a sick organization, and shareholders, employees and clients will pay the price until wholesale changes are made at the top.
This is what happens when the worse run bank takes over the better run bank. I watched as my hSTI counterparts ignored protocol and bypassed safe guards and “that’s stupid “ we’re not doing that and it was allowed. In my own case job duties were split with hSTI counterpart at merger and there was no doubt I was going to the odd person out at some point and it happened before final merger. When fed and internal audits start digging in they will have no scapegoats but you can rest assured they will blame it on former management. This works once only and it will catch up to all the smartest kids in the room!
They are having major difficulties combating wire fraud, especially in the DC area. Now that most H BB&T people are gone, major protocols are not being followed. It may lead to a Federal Investigation because of the frequency, clients have lost thousands of dollars and Truist isn't responding fast enough to satisfy the clients nor the Feds. This could be their downfall if this continues. The Chief Technology Officer is responsible for overseeing that safety protocols are followed. Easy to blame the CTO rather than admitting failure.
Which CTO was it. I am no longer working at Truist.
They keep firing CTOs to mask the blame. This is just his Case, Meyer, and Elliott keep making millions off the back of each of us while blaming others for their own incompetence. Those three are the real ones who need to go.