There is a toxic smog across Audit and it's only getting worse. My manger is miserable, I am miserable and everyone I talk to is miserable but no one feels they can speak up. If they have not posted out already, they spend evenings desperately searching. Does the CAO not think we hear the backhanded comments. Does leadership not think we talk and know what is going on. HR has to know what is going, how can they not we are leaving in droves. I was told to "buckle in" but this car is going in the wrong direction and swerving erratically. This is not my ride. Do better Truist, do better HR, do better Bill. We are YOUR employees.
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Who is next
Ding, do-g, the witch is gone. Given the recent contract extension, hard to believe that was voluntary. Any insights?
Anybody know the length of DeMaio's initial contract? I originally thought wait her out, but I'm not sure there's going to be anything left by the time her contract is up and/or that the BOD inexplicably renews it.
I'm not sure why I was surprised that the meeting to discuss the listening sessions is scheduled for a week when many teammates will be on leave and unable to attend.
@1Ulss+1nCuAQvp
You clearly have no idea what you're talking about. Auditors, in particular internal auditors, often possess a unique combination of analytical skills, ethical standards, objectivity, and problem-solving abilities. These qualities are not indicative of being "a little off" but rather reflect a well-rounded individual who plays a vital role in an organization.
To choose audit as a career choice means you are a little off to begin with. To be surprised those at the top are tyrants explains why everything in this bank doesn't work.
The Q&A session at the end of the month is to finalize who gets let go in Jan. Those who say anything other than “how excited they are to have a streamlined process that allows for us to better serve our communities with purpose and care” will be let go.
Retaliation and ethnic cleansing of anyone that does not comply or fit-in in terms of their thought process. One way to get your survey scores up is to get rid of the people that are taking the survey and replace them with your cronies. Blatantly retaliate against teammates that speak up sending a clear message to the rest that do not even think of speaking up or going to Truist HR.
Nice job Truist HR protecting teammates that spoke up and gave you details in confidence and in the hope that you would protect them against retaliation - no one reading this is ever coming to you again!!
All in the name of BIG BANK experience - which the people preaching shockingly do not have!!!
Who’s ready for round 2 in December when SAMs and below are on the chopping block? The voluntary severance process is to make any type of complaint to HR!
Today reeks of retaliation
The level of cronyism and toxicity of the MUFGers continues to grow and drive down morale, productivity and the desire to help Truist do and be better. This ‘crew’s’ terrible reputation in the industry is widely known. Blatant displays of disdain for those not of the MUFG ‘bloodline’ reached a new fever pitch with the arrival of the deputy CAE mid 2023. It is apparent she has been trying to ‘clean house’ and install ‘yes’ people who will hide her obvious lack of audit practices knowledge and abysmal people leadership skills. Everyone looks for ways to not have to engage with her. Get ready for more people to leave in droves and leave Truist worse off with a significant talent drain. Appears the Truist CEO and Board are clueless on how this department is being destroyed day by day. How is this being allowed and not hold the CAE solely responsible?
Someone asked a while back about the number of teammates who've left.
Denise started on 2/28/22. At that time there were 357 full time TAS teammates (as of 3/1/22), and as of 11/1/23, there are 330 full time TAS teammates.
During that time, 189 teammates have left Audit, including 64 that remained at Truist. If you're doing the math, 53% of the department has left since 3/1/22 (35% if you don't include the ones that remained at Truist).
It's noteworthy that of the numbers mentioned above, 168 started prior to 3/1/22 (47% of the department total on that date).
It's all good though. Our turnover is comparable to our peers, so nothing at all to see here.
Another MUFGer to speak with purpose about how we all know nothing and act with care as they preach about how we don’t know how to do our jobs.
The IT MD position is being filled by shocking another MUtha FGer. I’m sure he was the most qualified candidate with big bank experience. And on a completely unrelated note, Websters dictionary has updated their definition of “cronyism” with a picture of TAS leadership.
Here’s how I know Truist Audit is a crapshow...
Years ago I applied to BB&T. Tim made some weird unprofessional comment to me about how I wasn’t qualified for the role he was marketing. I was actually over qualified. I let it go.
Years later after being promoted 4 times I posted to Truist. Tim is still hanging around. No response. My resume, education, references, etc. are impeccable.
Moral of the story. Sometimes talent and culture fail out of the gate on the front end. HR is a partner. Audit management is a partner.
I have no idea what Truist considers to be “talent” but it’s clear they don’t have much talent left.
I will say “no thank you” if they ever reach out.
What is going on with all these org changes in TAS today with no announcement?
Were there any other layoffs beside the one in the announcement (former Sr MD)?
Accountability
Wednesday
I have lost confidence in our executive leadership team. Our stock price was $50/sh in February and now it’s $27. At this rate we’ll be a penny stock traded on NASDAQ next summer. How does this justify a second retention bonus? If these leaders truly know their business then why are we spending millions on consultants to tell us how to streamline Truist? Why does it take a WF analyst calling out our bloated BoD for them to take action and reduce the size to be in line with peers? Absolutely pathetic.
Lack of clear direction. Redundancy. Zero accountability. Accelerating due dates with insufficient notice. Change management deficiencies. Buzzwords over substance. Convoluted training. Change for the sake of change. Multitude of strategic decisions by people that likely haven’t had boots on the ground since personal cell phones became a thing.
Hopefully you got your purpose statement in.
It's ashame the actions taken by this dept since the takeover (I mean 'Merger of Equals"). I hate working here as there is no direction, leadership, or even a clue amongst top mgmt. Upcoming layoffs will be fun too. However, since money makes the world go round, I am stuck because I don't think it's best to restart somewhere else now. Is it better to be miserable with a paycheck or happy with no home?
How did I not know about this site earlier. I feel seen and heard with all of these comments.
I believe you can learn a lot from bad leaders (ie, what not to do) and DeMaio and Daulton are teaching a masters class. The new risk assessment templates are due this week and there’s only two outcomes: 1) If you get them done on time the quality is sh-t, or 2) If you’re late, you’re too d-mb to understand your AUs and the process. It feels like we’re part of a bad psychological experiment, with results presented by Protiviti of course. Good luck everybody.
Two interviews last week with competitors. Both recruiters mentioned the drastic influx of resumes from TAS employees and asked what was going on. Thinking we all are going for the same jobs at this point at least if we are in Charlotte. The good news is I'm told more audit jobs opening up in the coming weeks. Good luck everyone and keep watching the boards.
It is widely known that Audit has the lowest Pulse scores across the Bank. Leadership and Demaio are so self-absorbed and believe that they are doing well that they don't believe it could be them that no one likes. The spin in the latest townhall that scores are actually good against peer banks is just a reflection of their egos and the "how could this be us, we are amazing. You all just can't weather change" mentality. Her and her MUFG cronies are simply not liked or respected. This small team keeps speaking up but nothing is changing. Turnover will have to continue to be the only thing that get HR's attention.
ok, its pretty clear what everyone thinks - Denise DeMaio took control of this ship March 2022 and has driven it to the ground. Leadership style in a nutshell - Management by Chaos. Her direct reports have moved around like every 2-3 weeks - why - she yells at them!! Everything is someone else's fault accordingly to her. No direction and no guidance. Her directs, some of them fully grown men are almost in tears coming out of meetings with her. "I will teach you folks how to do this" is what she said at one of the meetings she set-up with a bunch of Directors/Senior Directors. This meeting was set-up as a "Listening Session" yet she would not anyone finish i.e. make it clear that she is not interested in listening. QAIP was led by an ex regulator from FRB who was clueless and was replaced by someone equally clueless - probably could not tell you what the Q in QAIP stands for. Was a Senior Audit Manager in Feb 2022 executing engagements and is now head of QAIP. Another new hire, Josh Daulton from PNC. Arrogant, condescending, dismissive i.e. a complete jerk!
This place is toxic. There is no work life balance. If you want to move up you have to know people. If you are not a friend or know someone from either banks really well, chances of success are very low. There are a lot of inexperienced senior director and director level teammates that just don't know how to manage people or know the subject matter. So many freaking titles and half of them dont mean sh-t! They just know how to talk and that's how they survive. Never seen a place that has so many incompetent people acting like they know what they are doing. Everyone is faking it! Horrible place to work. Stay away!
Any truth to the rumor that Atlanta TAS teammates are being terminated?
TAS is like being trapped in the Hunger Games where Demaio sits atop as Effie watching as the commoners try to survive a game tipped in the favor of a few. If you are heritage or don't follow in line you are on the wrong side of her game. Dysfunctional, toxic, chaotic, hostile, you can call it whatever you like, but be clear only one person is winning this game and it is not us.
How can HR and Senior Leadership allow this? It’s a major risk to have this much turnover. More auditors are leaving soon is on their own is my understanding.
It SHOULD be a major red flag as to the leader they brought in, yet it continues. Does anyone care? The first time I met her it was clear she exuded a terrible energy.
@unsi+1nCuAQvp MUFG US and TD US are barely bleeps on the banking radar screen. And what they do have is a mess. All these people selling themselves as "big bank" but really just big fish in very small ponds. No wonder we are where we are.
MUFG is big internationally, but small in the US. So explain to me again how swapping out all of our leadership gets us “big bank experience”? One word: Cronyism.
The word has gotten at my company. Everyone knows to stay clear. Take some of us out of the game and not sure where Truist is going to hire from. Audit is a small world and word travels fast. I've heard some pretty awful stories from those trying to come back. Feel bad for you all but then again sort of don't.
Prediction time. The IT Audit Exec is out and who wants to bet that his replacement is from MUFG. Why stop now stacking the leadership with DDs old crew. If my prediction is true we should all give up on Truist HR and recruiting. Call it quits and throw in the white flag. This place is laughable at this point.
You must save yourselves. There is no help coming. Don't forget to help the ones left behind when they wake from the nightmare.
Does anyone mind sharing how many have left in the last year from audit. Even a rough approximation? Want to understand how bad attrition really is
The distaste and dare I say hate for TAS appears to be real. Curious, how many of us are looking to get out. Who is counting the days? HR and Truist sure aren't coming to save any of us.
Just when you thought it was safe to go back into the murky waters of Audit, DD churns up the whole thing and makes it worse. Hires from her old bank , where her team and herself drove the entire organization into MRA hades. The teams were dysfunctional and could never agree on what defined an issue or a control. DD sat at the top fiddling like Nero as Rome burned. Deflecting years of neglect and ineffectiveness and blaming others. We will now be subjected to the same.
I have been watching this thread and finally feel compelled to post. In all my years of external and internal audit across the industry I can unequivocaly say this is not normal nor a positive workplace. Being well into my career I have a network that will certainly help me get a new job but I feel for all the newcomers I must coach through this insanity. They feel and see the disfunction and unhappiness. Tone from the top is negative and the micro-managing is strangling any free thought any of us had. To those looking, I am hopeful for you. For those stuck, there is something better out there.