There’s been a major exodus. I expected more stability once Julie left but it seems like a majority of the tenured employees left are leaving. Any indication what’s going on?
For those saying “good riddance we need new auditors”. Audit is what keeps regulators out of our hairs. The more regulators sniffing around the more silly policies we have to create…
Management above us was replaced with someone from Toilet and Douche (Delloite & Touch), he fired everyone on the team and put it all out to his Toilet partners as a contract...
I worked in WFAS, now IA, no way in he-l I'd go back to that place and be someone's scapegoat, I'm surprised it took them this long to leave.
This got really quiet all the sudden.
Julie
Ppl losing health due to 60+ hrs/week
Mass attrition (many reasons)
Heat
Oversight asleep at the wheel (ominous)
Do I expect something bad coming down the pipe? Yes
Do I know what it is? I kinda wish I did, but I don't.
Feels like chaos here, and that's never a good thing.
IT Audit is the one that wins the race for the d-mbest of the d-mb race. Shah-ee- Nah and their crew are making life miserable for us .
That's ok, the regulators were just given read access to SHRP, so once they spend some time in that cluster I'm sure they'll have input into all phases of our audit and compliance program.
“ Then when J.S. came it became more like Auschwitz…”
Very accurate description of what it became! Lower managers consistently working 70 hour weeks and on-call all hours, and then raked over the coals because sr managers changed their minds and said to start the work over from scratch.
Yes, sounds way too familiar. They did the same thing back in 2005-2006. Said we had to cut down to 5 main audit offices (MSP, SFO, PHX, DSM, and DEN) and many lost jobs or were forced to other LOBs. Shout out to the auditors who used to be in the Anchorage office and In Albuquerque. Merger with Wachovia stalled that ”hub strategy”…at least until the next round…
Lol, Audit. The group who continuously ask the d-mbest questions with no concept of what they are actually looking at. These id--ts once asked me for every single place in my desktop app that validates user input, including batch and script files, and wanted a list of the last time each script was changed. So I sent them a link to ARTS and said "request access to the git repo."
These fools have no idea what they are doing.
Yeah, I know what is happening. There are a lot of douche canoes running internal audit and have been for years. Remind you that in 2017/2018 the chief auditor (D.J.) was shown the door, along with another EAD. It's been chaos since. A circus of clowns, revolving clowns in seats, no respect for talent, etc. etc. Then when J.S. came it became more like Auschwitz and focus on utilization to squeeze everyone harder, faster, and you're asking why Internal Audit has a talent exodus?!?!? haha haha haha hahahahaha! Wake up!
I no longer work in Internal Audit let alone the organization. I found a remote job paying same and more and work from home 5 days a week.
The regulators obviously are asleep at the wheel again (nothing new) because they could easily look at the headcount exodus and write MRAs galore on its impact on the bank but I don't think they are paying attention. The Board and Audit Committee doesn't give a dam. The company is failing miserably. It's suffocating. Run for the hills! Nobody sane would want to work in that Circus for long.
Yep! Play silly games - win silly prizes. It's 2022. Remote jobs should be done remotely. If you don't allow it, people will go to companies which will.
There's been a lot of turnover in control too over the past 2-3 years. Nearly 20 years there. 3+ re-orgs per year. They thought the answer was to bring in outside help to "fix" WF but those people had no context/history of our problems and made things worse. I don't have time to bring you up to speed, welcome to the sh-t show.
Audit; the only group that makes Compliance look like it is competent.
Mass exodus because one can make more cheddar in 1st and 2nd line & be futher away from the sun (i.e...pressure associated with a failed regulatory validation that Audit passed).
Also, extremely active recruiting of 'audit backgrounds' from 1st/2nd line is a major factor as well.
I only know of one decent senior manager that has been hired in audit in the last 2-3 years. The rest of them are too busy pointing fingers at others to cover up their own incompetence. They didn’t take any time to work through problems because they thought they were smarter than everyone else when they came in and just tore everything apart and lost a lot of good talent as a result. That talent is now working remotely at other audit shops.
RTO and hubs is an absolute joke. Management picks and chooses who gets to still be remote from their cronies. Many of these useless new manager hires are in locations nowhere near a hub and senior management is silent just for them.
Management’s insistence on RTO will put this company in the ground. It’s only a matter of time.
Shocking. Absolutely shocking. I have no idea why people would leave WF right now. Must be Putin or a coincidence.
I could be wrong but I think what we all predicated would happen when RTO was implemented ended up happening. People would work through their commute during covid which would give more working hours. The budget was then made under the assumption that people would be working covid hours. The problem there is now people have to commute but the expectation won’t change. So if people were working 50 hours during covid they’d not have to devote 60 hours to work because it’s still the working 50 plus the commute time. It’s not worth it at all then you factor in audits notorious slow backfilling so now you have to work all those hours and pick up the slack because your team is understaffed. The third line of defense is really going to sh-t
I used to be in Audit - RTO is nothing new for them. 10-12 years ago they pulled their own location strategy and closed down areas that had good auditors in them. Bo-m, suddenly not a place they wanted to be. Shout out to Portland.
If you were in the “hubs” (just called offices then) where audit wanted to be there was no WFH. If you had a cool SAM they would not approve but would ignore WFH Fridays. So 4 days a week minimum in the office and only hire in select locations which was achieved by laying people off in in-selected locations.
Sound familiar?
RTO is d-mb when you have groups spread out all over the country. But Maybe they see that Wells Fargo isn’t really changing its ways to do what’s right due to poor planning and bad leadership and they see the writing on the wall to get out as more consent orders coming down the pipeline. Just my thoughts.
Lots of auditors on my team have left because of RTO. There is no need for Audit to be in an office when our teams are spread out across the country.