Nothing can be escalated because all the new people at the top don’t understand the company and do not have the necessary experience to understand impact on the bank. As a result, the company will continue to see major failures and make new headlines.
Finding someone to escalate to is the hardest part. This is the by far most unethical company I have ever worked for. Posting out after 10 years of service.
The consent orders are here to stay.
@1jty+1hl3XeEw - Dear "self disclosing," This sounds very familiar. Credit policy "leadership" spent 99% of their time writing, rewriting, d-mbing down and totally missing the root cause on less than 1% of what they called "defects." Which were really unperfected or unfinished requirements that hadn't gotten to their final iteration. What a horrible existence it was knowing how things functioned and having to explain it to mo--ns making twice my salary who only existed to stomp around in the minutia and suck up bonus money by taking credit for putting out the fires they themselves started.
"If I find a risk that is legitimate to the bank. I report it respectively as such. The very first time I get sht on by someone over this, I will call the ethics line and go public."
Now that might be fun thing to say on a board like this, or even over coffee, but think about that statement for a moment, Ethics line won't do anything, but protect the bank and "out" you to management. your career is toast. Going public?!?!? With what? "The controls were weak, but they overruled me. Unless that control is about Diversity inclusion and protected classes. I am afraid you just sank your Battleship!
Don't get me wrong, I like your thinking, but no, that approach is not going to work.
If I find a risk that is legitimate to the bank. I report it respectively as such. The very first time I get sht on by someone over this, I will call the ethics line and go public.
Self disclosing an issue has turned into its own industry. It’s not enough to just disclose it and complete the corrective actions, literally every word of any documentation gets raked over the calls by an army of checkers checking checkers and this usually means hours of useless meetings and further requests and documentation often from people who do not know the first thing about the business or how anything works. These teams ask the issue owners - who have a ton of competing priorities - to justify every little detail and the more work one puts into it upfront the more material they have to reject. It’s an exhausting and horrible process when you are already very burnt out from just trying to get your job done so yeah, I can see why no one gets excited about raising their hand.
I LOL’d at the title of this post because EVERYTHING is broken at WF!!!
Pointing out... let alone escalating a risk, or non-action around a risk is the fastest way to being marginalized. The amount of passive aggression aimed at someone trying to do the "right thing" by both FL and SL is SOP retaliation. it is all smoke and mirrors.
Success in risk is a badge of low integrity, and hyper corporate politics. BS artists plain and simple.
@1nqt+1hl3XeEw
Sounds like you work for the lemmings in Mortgage Credit risk.
Risk never was present or worked. It was only after the feds came in did the bank get religion. Still just a stage production with fancy actors and wardrobes.
I worked in a risk function at WF. My report showed a key department failed in both policy and process, and opened WF to risk from a technical and data perspective. My two-up took my report, re-wrote the finding so as not to appear as serious, and took over all the meetings with stakeholders. That's when I punched out.
Up until the last couple of years Risk was told their job was to provide credible challenge. Now we are told we will get better reviews if we eliminate findings for whatever reason we can come up with. This is what happens when you replace middle and upper managers with yes men.
Silly silly commenters. Yes risk is bloated and we have fifty million escalation paths but like the person pointed out to me, you have to cross he-l and high waters to get a concern formally documented. Our legal and compliance departments have a very high risk tolerance so they’re basically there to side with process and control owners.
If you dare say a control or process needs improvement, you’re forced to get into weeks and weeks of debate with bo support from your leaders. It’s all a show. Wells just bloats their risk department for the sake of appearance but nothing really gets done
I work in Risk & Control and we're not allowed to find them weak and if you even think about it, your entire team will dog pile you including your manager and try to talk you into overturning it to not a needs improvement, but it has to be effective or nothing at all. If you refuse to change your rating, they'll just do it for you in SHRP. I've reported several and refuse to change my findings and haven't had a bonus in years.... but I sleep at night.
Risk from sales perspective: No such thing as risk, approve my loan cause my commissions.
Whomever the a$$ho-e is with the BatPhone to someone who gives a s_it, give me a break! Even if some middle manager or managers had any ba--s AND self respect to bring ANY significant risk issue to light, it’s getting swiped under the rug. Report to re-education camp and accept your “inconsistently meets” evaluation you former “team member.” Don’t you know that taking responsibility for customers is yesterday’s Wells Fargo? Now it’s F-_cking Pay Charlie and Bill and Kristy the millions while our stock price sinks and sinks and …..🤷🏼
Let’s get specific. Are you talking mortgage credit risk?
I'll give you a WF hotline number you can call, there's also tons of framework and procedure documents i can point you too. I'm in Risk, there's a ton of ways to raise issues. There's an army of people in Risk ready to jump at anything.
It's not so much broken as constipated. There are so many silos of risk management that things grind to a halt. This is far more disfunctional than the public sector.
Post ID: @zqg+1hl3XeEw
too
You have no idea what you are talking about.
Think about escalating something. You really think your two up or three up manager will do the right thing?
People are collecting paychecks until the next thing comes along.
Implementing CSI is their protection from the headlines at this point
Why don't you give us an example of the issue your having, because you sound like a troll. If anything Risk here is about 3X the size of any similar bank out there. There's so many escalation paths, if anything there's freaking now to many.