I can’t believe how many offshore positions they’re putting for risk roles. Let’s just see what happens with that strategy when there’s another big issue.. seriously doubt we’ll get out of the consent orders offshoring risk and compliance senior roles. A few years ago it was only analyst level and now you’re seeing very senior level which is just a flat out cost move. You’re not getting the same level of talent. Disappointing as a shareholder to see this.
15 replies (most recent on top)
Try calling India for questions related to a retirement account. I have to spend hours on Infomax trying to obtain the answers in order to keep our clients here
Barry Sommers and Derek Flowers are ruining this company. Can’t tell you how many more positions will be eliminated
Risk irrelevant these days so it does not matter who or where it's performed.
My area's models are being validated in some cases by people offshore. They have no clue what they're talking about, but are great when it comes to copying and pasting from mors.
Agree.
it’s sad times when you offshore oversight roles to India and Philippines. In no capacity am I ok with them having oversight of any US work. US employees of a US bank should be in the oversight position - always!!
Mark my words, the risk for offshoring will come home to roost. If you think you can trust those that get paid peanuts to handle mission critical data- you are wrong.
This site is just the same 2 or 3 right wingnut trolls bi--hing about DEI and Indians over and over. Time to upskill, the invisible hand of the market has spoken!
@zbr+1nIGFe3X
Several years ago Risk elevated a bunch of former CS reps to risk “officer” roles to appear that WFC was taking working on the consent orders seriously. They have absolutely no idea what they’re doing and it’s blatantly obvious because they’ve made zero progress years later. It’s all smoke and mirrors. It’ll be epic when it all comes out.
Thanks for sharing your “thoughts” on this, yet again, Q, but I think we’re all good.
As if Risk was doing their job before this...
Charlie is actively burning this place to the ground while making himself and his buddies big $$$. Open your eyes people and get yourselves and your money out now before WFC is in the history books next to Lehman, Enron, Worldcom, etc
Charlie doesn't want Risk to find anything wrong, so it's off-shored because those bozos will definately not finds any problems.
I’m a shareholder and employee and like the extra $$
I’m not against offshoring but when it’s the senior level roles that is cause for concern. If you knew anything about the work done in these roles you’d have an issue with it.
lol sure, "as a shareholder" you'll be more than happy with the reduced costs. Stop trying to fearmonger every day about this weird belief you have about offshore "risk"; I'm sure you're the same guy who lied about being laid off and then having his identity stolen by the Indians the other day too.
I'm no fan of offshoring and capitalism's race to the bottom to please the, you guessed it- shareholders, but see it for what it is.