When does GK take a look at some of the wasted expenses in rm&c? Managers with a couple directs, tons of reg issues, and a reputation risk group that isn’t needed
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Why is his job impossible? Any job is impossible if you don’t put in the work, lie to the board, regulators, and auditors about your progress, and don’t have the brain cells to perform.
Trying to save your job? The sharks smell blood in the water…
@144 This seems like heresay and doesn't answer @PR's question.
@OP JR's massive spending is a symptom of a larger problem within the 2nd line of defense. If she was truly about helping the company manage risk, she would actually ensure that the function had an effective enterprise risk management system in place for all of the risk stripes. Instead of the fluff she feeds the board and the regulators.
@pr outside counsel brought in for multiple complaints, internal investigations and questionable business expenses that led to staff that knew being let go, just to name a few
@pr when JR and KH pay an auditor 7 figures to leave and for their silence, does it really matter what the complaint is? It is just bad and how the regulators have not picked up on it is just mind-blowing.
@k4 Ooh please enlighten us all about these HR complaints..
@ja JR running around NY and paying auditors to go away is biggest rep risk at the bank. The head of reputation risk is a close second due to his collection of HR complaints
@OP it may no longer be regulated but I doubt the bank will get rid of reputation risk. Why would a bank get rid of a risk stripe that helps protect their reputation? Just a theory.
Same for digital risk. There they have only two reports under every manager and the managers don’t even manage. They are too busy trying to keep their jobs and be relevant. What a waste.
@a5 tome for some risk optimization activities: “The Office of the Comptroller of the Currency (OCC) has stopped examining banks for reputational risk, meaning it will no longer assess this risk as part of its supervisory process. This change, announced in March 2025, reflects a shift towards focusing on more transparent and objective risk areas rather than subjective public opinion. “
Can someone articulate why reputation risk is important when our regulators don’t acknowledge it as a risk anymore? Isn’t reputation risk just part of risk management, regardless of risk stripe? Why does the Bank need a a Grade 25 EVP in charge of a risk that is inherent in every other risk? Make mistakes in credit risk, you end up on the front page of the newspaper, and all of a sudden that becomes a reputational risk? Nonsensical.
The reputation risk group is mission critical! They will be on this site bright and early tomorrow morning to downvote your post.
@a9 I don’t know why they call it CBB Risk..all JW and his directs do is brush stuff under the rug
Please start with the useless soul su-king middle management in CBB Risk! How wasteful of a company. They could save tons of $$$ and move things more smoothly and faster by eliminating this chaos and the useless waste called management. Some CBB risk managers only have 2 or 3 reports and have to over inflate their team to justify their very existence and relevancy. Such a show and fluff
Why isn’t reputation risk needed? Please educate us