Thread regarding Truist Bank layoffs

Truist stock down 30% year to date : )

I worked at Truist in Columbia, SC. Worst experience of my life. Terrible leadership, ALWAYS short staffed, and unobtainable goals. To those that are hesitant to leave, do it! You deserve happiness and there is so much opportunity out there!! Let Truist sink like a ship and watch it happen from a distance.

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| 35121 views | | 8 replies (last June 29, 2023) | Reply
Post ID: @OP+1nfkbOz4

8 replies (most recent on top)

@5qvc+1nfkbOz4
So it's someone to come up with yet another restructuring and then take the fall when it fails.

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Post ID: @7kft+1nfkbOz4

This is an actual job posting for SunTruist. Anyone know any of these geniuses? Who do they work for? So many questions!
Change Execution Governance Consultant
Regular or Temporary:

Regular
Language Fluency: English (Required)

Work Shift:

1st shift (United States of America)
Please review the following job description:

The Change Execution Governance Consultant is responsible for the design, implementation and on-going maintenance of the end-to-end change execution methodology for his/her area of responsibility used by the organization. This methodology ensures consistent change management execution expectations which are expected for large, complex financial institutions.
Remote position with occasional on-site work required.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

  1. Build out governance for the transformation initiatives (value stream-based solutions) from ground up for areas of assigned responsibility in collaboration with stakeholders and peers.
  2. Build out project, program and initiative execution operating model for areas of assigned responsibility for the Enterprise across centralized PMO and all related and supporting stakeholder groups, inclusive of clearly defining the new model, roles and responsibilities and supporting processes from strategy through execution. This needs to support the new transformation initiatives as well as business unit led programs and projects.
  3. Development of new governance and standards + better definition of projects for areas of assigned responsibility in collaboration with stakeholders and peers across the following:

a. Value stream initiatives and underlying projects
b. Business unit projects not aligned to value streams
c. Operating projects

  1. Evaluation and refinement of the ECRA/ECRM process to align to transformation model and execution efforts.
  2. Development of definitions for areas of assigned responsibility of how the SIC process will work for non-transformation / non-value stream items.
  3. Support the on-going maintenance and training efforts for areas of assigned responsibility related to the items developed above.

QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  1. Bachelor’s degree in Finance, Economics or business-related field, or equivalent education and related training
  2. 7-10 years of experience in the financial services industry, preferably with a large financial services firm
  3. Ability to work strategically and tactically, comfortable seeing and defining the “big picture” while overseeing details
  4. Comprehensive knowledge of general banking, risk management, and audit practices
  5. Excellent leadership ability and sound decision-making skills
  6. Strong business acumen and organizational agility
  7. Profound sense of ethics and the ability to deal with pressure from all areas of the business
  8. Demonstrated executive level presence with expert level verbal and written communication skills
  9. Strong skills in MS Office Suite (PowerPoint, Excel, Word, Visio, Project

Preferred Qualifications:

  1. Experience with various types of project execution methodologies and/or change projects
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Post ID: @5qvc+1nfkbOz4

It’s a fraud of epic proportions.
The executive team is using the bank as it’s personal piggy bank. Enriching themselves while the ship sinks.
If you still own this useless stock, might I suggest NFTs as your next “wealth building” move.
Truist stock is soon to be worth less than a seed of hope.

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Post ID: @4yte+1nfkbOz4

@1fjj+1nfkbOz4 - absolutely correct. My opinion is the goodwill and prior success of the two legacy banks is being extracted for the benefit of the Truist BoDs and Executives. Everyone else is along for the ride (shareholders, clients, employees, communities, stock analysts, etc.).

I would love some insight into how executives deserved a 20+% salary bump for basically wiping out half of the company’s market cap? How many of us would get that increase for cutting our client base in half? Or, scoring last in our client satisfaction survey?

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Post ID: @3zan+1nfkbOz4

SunTruist has become the little bank that couldn’t. All that was supposed to be so great with the MOE has become pure smoke and mirrors. Technology upgrades, yeah right. You have divisions that didn’t get new technology, rifd the people who could run the existing technology and now are using excel spreadsheets for technology. You can’t close a loan with even high profile customers in a timely manner because of the amount of non value added BS this organization has added. Takes forever to get a term sheet to an existing customer much less a new one. Losing business and high profile customers left and right. Yet the BOD sits idly at elbow of William like a faithful old cocker spaniel awaiting its next treat. Color me amazed at the sorry state of management top to bottom in this organization. One helluva lot of talkers and few doers. The ones who can do get kneecapped by the talkers and the nonsensical one more step inserted in the process by people who have no idea what they are doing. It would be sad if it weren’t so incredibly stupid.

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Post ID: @1fjj+1nfkbOz4

I’m eavesdropping from the stagecoach. Yep, you could have it worse. Promise. Hang in there! May we all find our paths away from financial services!

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Post ID: @1zun+1nfkbOz4

"…..right Dontae?"

That's right, playah!

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Post ID: @1lif+1nfkbOz4

The grand irony is “teammates” have unattainable goals, yet the BOD apparently has zero performance expectations for this Executive team.

I honestly am not sure I have ever seen a public company underperform so starkly relative to peers, with client satisfaction metrics trending so badly - and not a peep from the BOD.

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Post ID: @1pzo+1nfkbOz4

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