Are you listening USAA Board members? If you really want to help the company, engage a DOGE-like company to eliminate waste. The catch is that no single person or department is excluded. Everyone is fair game. In the short term, the pain would be immediate, felt across the entire organization, not just low-level employees, and it would put a permanent stop to this non-sense of never-ending layoffs that demoralize employees. But in the long-term, USAA would get back to doing what it once did best--taking care of its members AND employees by providing world-best products, services, and work benefits. The solution is not difficult, you just have to have the fortitude to make it and follow through.
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I hope the OP would be the first one fired for performance. 🤡 Clown! Tearing things apart is easy! Anyone can do that.
@1d9+1jknzmwne
100% agree! IT is not skilled in audit practices, which are quite complex. This whole Musk and & DOGE illegal takeover and tear down without oversite is ridiculous. You have to understand what you are looking at and how it is designed before you start screaming fire. This is just plain grandstanding meant to distract away from the true intent. Hiring a DOGE-like company would spell disaster for USAA, or any other company trying to align with regulatory requirements. smh
Anyone can come in with no experience and no plan and just start cutting departments. No need for DOGE.
I’m a member and ex-employee. I will work for free for six months to help with a DOGE like activity at USAA. This place has lots of unnecessary expenditure and many positions to be removed. This will not only help with the company’s mission but also the members could save some money.
Is this a joke?
The ONLY people that would be penalized are the worker bees.
It's easy to eliminate waste- start by cutting the money we give to politicians & lobbyists
Eliminate the multiple unnecessary layers of leadership that gives way to plausible deniabilty ..
Streamline executive pay & packages (to be based on actual performance )
Eliminate golden parachutes - forever.
This is just a start & I already feel more profitable !
Why not sell USAA real estate to DOGE. Get some money...
This post was a waste of time to read.
Um, by fully going remote on 99% of positions will eliminate real estate costs.
Thats it. Thats the post. Thats the number one ‘waste’.
And im nOt even a cpa or auditor!
USAA stole our money and now charging us for overdrawing the account for all the money THEY took.
I for one and my family have always received excellent care and support from USAA. They have been helpful and courteous. It seems like too many people are leading the "cry for reform", because they think it will provide them with more money and services they don't want to pay full price for.
Who is blaming other banks for the mess USAA is in? The comment you might be referring too, mentioned the failed bank executives that Wayne hand picked to turn the bank around, and just like at their previous stops, they failed. No one is absolving USAA for failing to meet the requirements of the 2019 consent order, but the executives Wayne hand picked did not work out and made things a lot worse. I was in a town hall with the new chief risk officer, he said USAA should have the consent order closed by late 2025 early 2026. No matter how the company tries to spin this into something positive and the kool-aid drinkers will chug what they throw out, but the bank is in deep trouble. If they’re still in boiling water with regulators going into 2026, to save the company, they’ll sell off the bank and be 100% insurance only.
Cut all ESG related activity and reporting. (Yes, including that other acronym.)
The real kicker to the most proactive DOGE strategy would be having the company turn state's evidence on Blackrock's extortion and racketeering under ESG cover, landing the company a couple billion dollar whistleblower award for bringing down Blackrock. And USAA could acquire portions of Blackrock in the final settlement, opening up new lines of business on the B2B side.
Imagine USAA as a dealer/reseller of lines of credit for letters of marque and other associated security and development activities that may previously have been laundered through USAID. Now THAT'S focusing on the mission, creating new opportunities for veterans!
It is well past time to stop blaming other banks for the mess that USAA has built for itself. USAA would not listen to or implement the needed recommendations and controls presented to get the company back on track. USAA troubles like firmly with itself. USAA management likes to say, "not the USAA way". Good luck with that.
The amount of failed bank executives Wayne brought in from Wells Fargo & BofA, and what did it bring? Nothing other than another consent order, which is worse than the previous one because now the bank cannot offer any brand new products; there’s a reason why those failed executives were fired from their previous roles. No matter how the company tries to spin this, the bank is neck deep in dog po-p with its mouth wide open. The bank president, he’s a numbers guy and cares only about the bottom line, which is preventing the bank from another loss, and the only way to make the bank profitable this year with not being able to offer new products, is cutting staff. With bank severance cut in half, expect rounds of layoffs each quarter, by years end, I’d expect about 500 bank jobs to be eliminated.