A source higher up in the budgeting office has advised me that more IT and AML/KYC to be impacted by end of September. Preliminary fiscal reports showing USAA is down pretty big this year so they are cutting where they can. They are doing this so they can help reign some of the losses and recoup in 4th quarter so the year end report doesn't look as bad as last years. It makes sense if you think about and listen to what was said by the Executive "Leaders" yesterday. Be nimble and stay safe out there!
16 replies (most recent on top)
Nothing new
@vqa+1nVxuatg — “Did we really “get thru the problem”? If the AML/BSA solution was anything like any other remediation I’ve seen in the company, it’s a half baked solution with check the box effort and incomplete populations.”
You're 1000% correct. We did not solve anything. We shifted it from one place to another, hoping to exit the Consent Order before the OCC notices.
When I was at USAA it was a never ending restructuring for YEARS. It’s just that the customer facing employees except for mortgage weren’t exposed to it. I fretted over my job for years.
Winter. Is. COMING.
They way overhired I knew it at the time in AML. KYC may fair better as they already had layoffs. Plus bank can use the extra people for CIP or AMO which have big backlogs. Detections still has a lot of work. Investigations is where the bigger cuts may occur - it seems their volumes are down.
Did we really “get thru the problem”? If the AML/BSA solution was anything like any other remediation I’ve seen in the company, it’s a half baked solution with check the box effort and incomplete populations.
Targeting has already begun....
I wonder if they are going to target remote employees since they are so adamant that they want everyone in office
It’s coming soon. Leadership wants it done before the holidays to avoid any bad optics.
:: Sarcastically:: Our CIO said no more layoffs, with the current headcount, for 3 years! The only reduction would be 3P.
Hmmm.....
They really don’t need all the AML people. We way over hired to get through a problem. I am willing to bet we didn’t disclose it to all the people who took roles. They told me lies when I went through the process so am assuming they weren’t honest with AML.
USAA dropped and is barely in fortune 500 now. so sad.
A blind man can see this one coming, its so obvious!
Wasn't there another post last week that said August?
So in reality, notices will be going out within the next week, which would mean 60 days to the end of september???????
More targeting of people they don't like to cut tenure and high pay. This happens in ALL areas. Managers use the "budget cuts" as an opportunity to get rid of the people they don't like by targeting them, literally torturing them with micro management and vague feedback that is opinion based instead of fact-based, until they either quit, go MAD or get themselves fired. TOXIC!