The same players will result in the same results.
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So, why does front line control have so many lawyers in roles such as management?
Why would they have an appropriate background to help execute?
Zero audit experience. Zero big 4. Minimal risk experience.
Makes sense to me! Things are going so well. Let’s hire more!!
HR is so great at their job. World class.
RCSA - 6+ years and counting.... Multiple stops/starts. Multiple (missed) target end dates.
25% of the risk people truly understand risks and controls, and are skilled enough work with the front lines to discuss and document, and assess effectiveness.
Some business units cooperate with good intentions, some don't. Frequent staff turnover and process changes result in lost continuity and re-work.
A lot of the (few) good risk people get frustrated and leave.
Post from TheLayoff.com
Is it normal to hire 4,000 people into control management, of which probably only 25% could define what a control is? But to answer your original question there are tons of “lawyers” in control. Mikey B is just another layer of insulation to protect the C-suite when RCSA fails
"When will rcsa be done with?" --
Not any time soon. WF is hiring like crazy for it, among other banks and FinTechs. It's not a new thing as it's been going on for a long time. Just, more recently it's the politically hot topic that everyone's throwing money at. Possibly regulator related.
Is it typical for a private practice lawyer to move to a corporate job (not in the law department) and then ‘move’ to RCSA? It seems really weird - even for this company.
There is a page on Teamworks showing acronyms. Or there used to be
Someone should create a webpage in teamworks that lists various acronyms and what they stand for. It would really solve a lot of posts asking what xxxxx stands for. You could call it something obvious so people know what it is. Maybe “Acronyms A-Z”?
When will rcsa be done with?
If you have to ask what an RCSA is then congrats! You have met the WF requirements for doing one.
EBTP is an absolute disaster. They are updating the handbook on a weekly basis because of all the flaws. The reporting module is nonexistent. This is a huge step backward.
Office hours for support are useless too.
We need to go back to spreadsheets.
Exactly. Can’t think of a lot of things more foolish then requiring the people who don’t manage risk to create their own risk based self assessment program. It’s going sooooo well too
They are 4 letters In the English Alphabet
what is RCSA?