Thread regarding Wells Fargo & Co. layoffs

Bill is pretty decent, but a lot of the middle management aren't seasoned. Bill used to be at B of A, so maybe he doesn't see it. What round of RCSA are we on now? Round 3? I'd stay away from not only RCSA but all of Ops Risk as carrying it on your resume might be a risk in itself with all the headlines swirling around, plus possible future ones. It's getting to a level where the Risk roll-out & management is getting embarrassing.

Why do I keep hearing people say “He or she inherited this mess”

You own it. If you’ve been somewhere more than year, than you literally own it. I don’t care if you are outside the bank.

You are the id--t who jumped for the big pay check. Own it. The person who hired you from the outside of the bigger id--t.

We are trying to move fast and I’m surrounded by people who don’t understand the bank.

In fact, I feel like I’m watching it burn

Bill is IRM and is really good but he does keep around previous failures (JK) and does need to prune his team. RCSA failure is at the feet of the previous and current SEO horror show (GM) and the central CE team under NH. NH is a complete clown who does not know anything. Another clown that ran risk programs somewhere else but had no clue how to build it. Just because you can drive a car does not mean you know how to design and manufacture one. And yes he a condescending j-rk who treats people very poorly.

Bill's a good leader. Ops Risk is not the best place though. Lots of dead wood that doesn't want new trees on the scene, org changes, disparity in favoritism, even on RTO and who needs/does not need to, poor middle level managers who don't stand up for their employees/teams and go with the flow. Lots of functions getting sent to India. Do you really want to go to an area with complicated procedures with no-one willing to help due to the new stack ranking methodology and risk being the sacrificial lamb at bonus time? If you want to do a bunch of stuff you have no expertise in flung at you with no support or training, go for it.

Juliano won't make it through the summer.

Juliano is a legit leader. He inherited this mess.

@fnv+1hoKDQ35. Look at the other chart. Bill’s teams are 2L IRM. Operational Risk doesn’t report to NH. And TBH it’s NH’s teams that can’t seem to execute RCSA effectively or correctly in the first place.

More reason there is no hope for Wells Fargo given poor leadership and execution. Time to hand out some Shared Success awards to the troops - bonuses to the managers. G0 Team!

Ever notice how Nate scoffs when asked something that he acts like it is beneath him?

Wow - this is maybe going to be the 4th or 5th time in as many years they are “redoing” the RCSA program. That’s astonishing, even for this place.

No way around it though, RCSA is a basic regulatory requirement. It’s sort of the SOX testing of bank operations. I wonder if they’ll issue an MRA since it’s been so jacked up for so long?

RCSA is coming back in Aug. They were an absolute joke, finding controls effective while the control was going through the GIM process so in no way even should have been evaluated, let alone found TOD/TOP effective. They were finding items effective with no polices, SOD matrix, no evidence of execution etc... so they got shut down... then the OCC found out and reminded them that they're a requirement so they're starting again in Aug and have to redo a bunch of their work. They're not going anywhere, they're Nate's little pet project... this place is a joke.