DF had an all directs plus one level this past week. Lots of heads down for a few days, felt different. Risk getting a haircut soon?
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Bump
Who has the deets
So, what's going on with RCSA? Any updates?
The RCSA budget.
Knew someone that was bullied & harrassed in Risk. Senior management did nothing. They had no other option but to resign & went from being a happy person, proud to work at WF to a person devoid of life, confidence, joy & with no strength. Avoid this place & Risk if you can.
Hope they trim CCAR/Stress Testing/Global Scenario Analysis- they really need to put more experienced management there. Lots of bias, shoddy work & bad attitudes tolerated from people due to brown nosing. Unequal treatment instead of leadership & ethics. Spineless management with excuses, gaslighting & denial. More suited to be individual contributors than managers. Good work is not rewarded. Lots of turnover. Lots of miscommunications over RTO. Favoritism at it's finest.
Risk has a combination of really smart, diligent people (15-20%) and selfish, petty unqualified people that are only there for the paycheck & pull other people down (80-85%). Let's hope the bank is intelligent enough to get rid of the right cohort. The quiet hard workers vs the super aggressive loudmouths.
Gotta get rid of M.S. out in MN in mortgage credit risk. He’s a risk just being himself. Make’s his employees feel bullied and pretends to be this knowledgeable guy, BUT REALLY, he’s just a BS artist.
There are a few Risk partners that are good. They take time to learn the business, identify the risks ask tough thoughtful questions and work towards resolving them. but that is offset by the majority of them wasting my team's time on useless initiatives while Rome burns. Good riddance to all of them, we have work to do and that work does not involve your pet spreadsheet, or tool.
Can’t believe DF took time away from backcountry skiing to have a meeting.
ITV has managers with 1-2 direct reports. How's that for spans and layers
finally rolling out spans and layers across risk. get ready
A big chunk of change needs to be cut from the current budget.
RCSA seems to be in free fall, from what I can tell. I think the solution is MORE rules, a more complicated process, a longer job aid….
Freeze underway
The biggest risk at WF is RCSA
Call monitoring needs a haircut. Frontline management already monitors their direct reports in addition to 2 levels of scrutiny beyond that. It’s he amount of grandstanding and complexity that’s been added to an unnuanced and black and white metric is the biggest case of overkill we have. We’re ki-ling flies with sledgehammers.
At WF the biggest risk is the risk team
I hope they start with Tech Risk
Not soon enough; bloated worthless division.