Thread regarding Wells Fargo & Co. layoffs

@4sls+1sIx24Xq Gemini says you are mistaken. Project management methodologies can absolutely be helpful in implementing Basel IV requirements.

Here's why:

Basel IV implementation is a large, complex project with many moving parts. Project management methodologies provide structure, organization, and best practices to ensure successful completion.
Each methodology offers different strengths:
Waterfall provides a clear, linear plan for a well-defined project like some Basel IV aspects.
Agile is adaptable for situations with uncertainties, which might be the case for some Basel IV rule interpretations.
Six Sigma focuses on eliminating defects, which is valuable for data quality during Basel IV implementation.
Kanban excels in managing workflow and visualizing progress, useful for tracking various Basel IV tasks.
Other methodologies like PRINCE2, CPM, and value chain analysis also offer valuable tools for planning, scheduling, and resource allocation.
The most suitable methodology depends on factors like project size, complexity, and desired level of flexibility.

Here's what that person might be concerned about:

No single methodology is a magic bullet. Each has its limitations. It's about choosing the right tool for the job and potentially combining methodologies.
Project management isn't a substitute for understanding Basel IV. Deep knowledge of the regulations remains crucial.
Overall, project management strategies are valuable tools to navigate the complexities of Basel IV implementation.
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In the 10+ years I was at this bank I never saw project management used effectively. Of course all those India guys say they are ready thru their consultancies (McKinsey, KPMG, Deloitte). I have little confidence that this bank can magically make their facilitators into skilled project managers who can strategically employ a project methodology. They will need to do this to succeed in navigating the complexities of Basel IV implementation.

Ignorant moderators are deleting some good posts. Because of that, this thread is losing content continuity.

We need to do more sector analysis and attribution analysis.

Derivatives like credit default swaps are the riskiest products that need to be monitored and controlled.

GE and Motorola abandoned six sigma because they got totally sc--wed by it.

These are not designed to assess market risk, credit risk, liquidity risk, and operational risk.

These will not help Basel IV requirements.

@4rxx+1sIx24Xq Sorry I just realized that the Six Sigma Wells Fargo Blog was made in 2017. These folks are probably all gone. Looking back at all of this mess I have realized the following:

1. WF will use one and all of the methodologies: Six Sigma, Kanban, agile, spiral, waterfall, DevOps, PRINCE2, CPM, value chain analysis, and a few rare PMIs in the mix. There is no standardization of employing one methodology. Each attempt to standardize on one methodology has failed.
2. The above methodologies should incorporate risk management practices like Ops Risk and Compliance Risk. These are risk categories managed within the above project management methodologies, not the methodologies themselves.
3. More prevalent than an employed project management methodologies are the bank's anti-patterns, which seem like good ideas on the surface but ultimately hinder project success. These are scope creep, micromanagement, poor communication, unclear requirements, unrealistic deadlines, lack of planning, hero mentality, focus on busy work, ignoring risks, insufficient change management, untested deliveries, and poor resource allocation.

There is a vast amount of "inefficiencies" in these anti-patterns.
Sources:
https://www.alacergroup.com/whitepaper/developing-a-compliance-risk-assessment-framework/
prompt: "what is PRINCE2" "what other structured project management methodology are there?" "what other structured project management methodology are there?" "what are the agile project management practices:"

It could impact brokerage business.

What will happen to DevOps then?

I've heard a rumor that WF will be switching to Google Cloud and Nexus.

Don't worry, we will now use PRINCE2. It can solve everything.

@1jgd+1sIx24Xq

Isn’t six sigma meant mainly for manufacturing?

Can I just say I just retired with Wells Fargo and I was treated with respect through the whole process, I have nothing but love for my manager and my whole team

Bwahahahahahaha

@1jre Six Sigma at Wells Fargo. I see you guys are getting educated.
https://www.6sigma.us/customer/wells-fargo-2/
So agile and now Six Sigma. So will everybody have to get their belts like they all have in India? I see Wells Fargo biting another silver bullet. Unlike Citibank, they are not reorganizing -- just embellishing their tangled processes with yet another methodology. This isn't going to end well.

It starts from the top.

They pay higher?! News to me

Yeah, it’s going to India I think regulators will want to look at this, I did reach out to our Congress on this. It’s probably incredulous.