Thread regarding Northern Trust Corp. layoffs

"Risk & Resiliency"...the next "ESG"?

There are so many people that were hired in 2022-2025 for "risk and resiliency".

Seems like it was all just a hasty response to the 2022 bank crisis, where c-suite said here, go out and hire a bunch of people to make up some BS paperwork to make it seem like we're safe. Though, in reality, these "risk and resiliency" people do very little. All the regulatory paperwork already exists. Seems like "risk and resiliency" is the next "ESG" or "DEI", once management realizes they don't do a thing, it's a major cost center that is easy to cut.

I know in particular the entire "Capital Markets" (located within Asset Servicing) risk and resiliency team is already gone. From 5 people to zero in a matter of months.


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| 12 views | | 3 replies (last 28 days ago) | Reply
Post ID: @OP+1m4e154yh

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Have had many meeting with resiliency folks. Most pointless and unproductive part of my week

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Post ID: @19k+1m4e154yh

We are a client and we have heard this. We are monitoring it very closely here in London. We have been told NT have a kept a kept a large proportion of people working on control, risk, resiliency & client services and no for a fact they have let go a lot of their most experienced derivatives employees.

We just hope this is not going to lead to a repeat again of September 2022.

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Post ID: @ee+1m4e154yh

but Northern needs to strengthen resiliency in order to enhance resiliency with strength

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Post ID: @ar+1m4e154yh

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