Heard a rumor that CAS is not doing layoffs but rather not re-filling positions putting double the work on their existing team. Any truth?
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I noticed KL was no longer in the directory today.
@r8 can you share which managers? Was one of them recently demoted?
I doubt he does anything, why would he?
@w7 makes you wonder how the new chief auditor will do?
@rj but clearly they are looking away if KL was fired.
@r8 Guess I should be careful what I wish for. Although your Intel is validating, it's bitter sweet. Thank you for sharing more details. It's officially every man/woman for themselves I guess. If the ethics officer can and was shown the door for standing up for what's right and just, we're all hosed.
Going forward, everyone should bypass any bank ethics complaint processes entirely and send all complaints directly to the regulators. Even if the complaint isn't in their purview, they're bound to be concerned about the safety and soundness of a financial institution where the leadership has gone rogue.
@r8 which managers? KL saw a lot from her seat. It's one thing when its one or two complaints. But when there's a pattern, it is very hard for the company to look away.
They weren’t shouting about DEI although it came up. KL was fed up with the stream of ethics complaints coming out of Jodi’s area specifically against a lot of her managers, and she felt like there was some deliberate covering up and downplaying. Jodi told KL to get her own house in order and that DEI wasn’t going to save her this time (a very mean comment btw).
@q4 I respectfully disagree.
Even the best intentioned groups make errors. USB Law Division is no exception; they're just better at passing the buck when it comes to responsibility and accountability for the errors.
Being technically compliant with the letter of the law is not the same as honoring the spirit and purpose of the law. Just like CC, Legal's role isn't to inform Sr/Exec leaders they cannot legally do something. It's to tell them how they can do whatever they want to do by finding loopholes not explicitly forbidden by a specific regulation, regardless of whether it undermines the law's intent.
Are there genuine, good employees with honest intentions working in Legal/CC/CAS? Yes.
Are those employees targeted for constructive discharge, layoffs, and/or NDA bribery? Also yes.
@fr Do tell! What was the topic of contention, and what side was KL advocating for?
This is the stuff I'm here for. More than ever it's difficult to know who your allies are at the office, so this forum is increasing helpful for validating observations we can't speak publicly about at work. ESPECIALLY the unethical observations. *All taken with a grain of salt of course, as anyone with internet access can post in these forums just to stir the pot.
@b4
That's the one division at this company. You expect to be in compliance with the law. The legal department.
Curious about when she left as well. She’s still in the directory, although that doesn’t mean much.
@fr when did that happen?
@ap GTSS is a definite contender for most mismanaged and chaotic division. Sad.
She prioritized DEI over everything that’s why she is gone. Shouting match with Chief Risk Officer and poof she’s gone.
@av Because the MC can't have an ethics officer looking over their shoulders while executing unethical strategies.
If an ethics complaint falls on deaf ears and nobody is around to hear it, does it make a sound?
She was too vocal in favor of DEI, a bit of a left wing nut according to one board member. Not a time to try and save the manatees.
@ax KL= the Chief Ethics Officer. Rhymes with Eighty Trawler.
Too vocal for or too against DEI?, the primary advocate and proponent of DEI was the bank's law division itself of all places, expecting their law firm vendors to fully embrace DEI. Not sure the the board or shareholders were ever fully aware of what was going on.
Who is KL?
KL was fired, too vocal about DEI.
@at how so? Do you think KL was fired or left on her own accord?
@ap I agree, they used to be. But CC is coming in hot on their heels! Absolute clown show. I can see why the chief ethics officer position is being eliminated. At this point it's become a liability!
Worst group to work for at the Bank hands down
@a9 I've been here for well over a decade and there isn't a time that I HAVEN'T heard to "do more with less". That should be one of our core values at this point lol
Probably. Aren’t most groups taking that approach lately? Do more with less is the trend. Not backfilling is better than having layoffs.
Corporate Audit Services
What is CAS?