RCSA

I keep hearing that the RCSA revision being currently rolled out is turning out to be a disaster. I am not senior enough to see what is causing this but just makes me wonder what is the “new” senior management doing ?

Especially new folks in controls, operational risk, compliance who were hired specially with the mandate to get the RCSA fixed.

Are there too many cooks in the kitchen ? Or are people unable to make decisions and the new senior management lack institutional knowledge ?

How does this impact layoffs/cost cutting ?

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BIKE was a POS homegrown tool developed by a total maniac. The maniac built a tool previously that overcomplicated a key process in tech and took 5 years to sunset, extricate. Good riddance to BIKE and the maniac and his insane mgr at BPRM RR who they finally mercifully canned. BPRM was a good concept but the maniac and his boss were tyrannical and knew nothing about risk. Good concept, bad implementation sound familiar?

@1jte+1jBSKkT7
“Does anyone else remember an application called BIKE from a few years back? That seemed promising then just disappeared”

Yes! Funny, I hadn’t thought about it in a year or so, but you are right that it did just suddenly disappear!

There are areas of the bank where a majority of their controls are outdated, control owners are no longer here, or processes have changed. They think RCSA will fix all of their controls. It will not with the current implementation. There will be a rude awakening coming.

Does anyone else remember an application called BIKE from a few years back? That seemed promising then just disappeared

Isn’t the deadline in November, yet haven’t received notification yet from RCSA people. They were supposed to email?????

RCSA...what our beloved CEO wanted to end this year in all if his glorious leadership ability. Until the regulators said no. Leadership is such a joke.

@mlf+1jBSKkT7 the outputs are bad. Inconsistent, incomplete, sometimes completely wrong, and generally not done at a level granular enough to actually be meaningful even if all of the above weren’t also problems.

We were told in Tech by JM that RCSA wasn't to fix problems, it was to meet dates. Poor leadership would be my guess for failure. Like everything else.

Can you clarify what you mean by “disaster”? Any specifics. I’m somewhat close to it but haven’t heard or seen anything that concerning at this point.

I mean they have been "fixing" it for 5 years now - can we just say it is broken forever at this point

Follow up question for the RCSA folks out there- why isn’t it working?

@hnb

Really Cant Stand (WF) Anymore

RCSA... Risk and Control Self Assessment. If you like PowerPoint, you'll love RCSA

What is “RCSA”?

They are there to look like we're doing something until Republicans take over and stop all the inquiries. Nothing is supposed to be done to fix it.

Thread regarding Wells Fargo & Co. layoffs

RCSA

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