Third Party Program is a joke. Where did these people come from? They have no common sense and never hear the feedback from the teams that have to execute the Third Party Program. The new system - STORM - is a nightmare because there was not real plan on its implementation… the new processes are not aligned with the system’s functionality… it is truly a joke.
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This must be a forum started by a GTPO (global third party officer) at Wells Fargo. The same team that caused multiple regulatory issues that the third party program had to solve for and need hand holding to do the simplest of tasks that are in their purview. Good luck maintaining stock prices as Wells Fargo as you continue to sabotage what should be simple risk management practices.
Former employee that is so much happier out of that toxic environment
Stop this STORM. Please start to PERFORM! The TPRM is a giant joke. Pranksters who failed elsewhere are claiming industry expert status here. Some of the best ones in covering this area where actually in tech control and their common sense and advice was consistently challenged. Those people went elsewhere to a better (and well-deserved) industry leading roles. Here they elevated a non-performer to be Julia B's direct (for doing nada). This is the Wells way: Open fake accounts, Hire the also-rans, Elevate the non-participants, and Boot out the good guys.
Dang. I’m glad I just turned down a leadership role in TP….sounds like the train wreck I’d heard about is real. Is it leadership? Offshoring? Outdated processes? Would appreciate any kind of insight
Id--ts have designed third party risk management framework at wells. Engaged with an over promoted mediocrity posing as risk type specialist during RCSA. They did not have a clue about our business. More concerning was they didn’t appreciate risk trade-offs involved in outsourcing to third parties vs internal outsourcing. They forced us to assess hypothetical risks in long complicated language that added no value. It was all busywork.
Got su-ked into onboarding a thirty-party hosted application a while back. What a nightmare of a sunrise process. Risk teams had not process or idea of things and the vendor was lying through their teeth. Never again. People doing it now have no idea so things go missed big time.
TP Risk management is a joke, it’s basically just letting the vendors run wild.
Nobody wants to partner with Wells Fargo because this group is so incompetent.
TPRM is a joke, they've had MRAs for years.
STORM is a bandaid to try and salvage someone’s performance and bonus “well, I said we’re gonna do this…. We’ll cr@p….. let’s deploy something..anything”