What has Nate accomplished?
Getting structure in place? Hiring a bunch of people?
Not trying to be mean but literally, what has been accomplished by front line risk?
Everything they do they have to re-do. There doesn’t appear to be any solid root cause analysis. Cr-p runs downhill. Not uphill. Hope they remember that
GM the SEO dragoon who drove it into the ground in phase 1 is making the same mistakes again. She is incompetent and gross.
@qmc Several years, I think. This current phase will last through the middle of next year and then there's another phase. If the past is any indication, it will get screwed up again and take even longer than two years.
NH = chief workplace bully. A total goon.
Whose's son, or ?? ...... is he? A bit too young to be in the role he is with any legitimate experience.
Another di-k sucking corporate drone is all!! A Corporate Yes Man. Yes, Master Scotty P, whatever you want, sir.
@ocd someone from GS who obviously has connections.
@sel+1i3qCBwn Who dat? SH!?
Control that doesn’t own any controls by definition. Them and their 5 pillars are useless.
The few good people in the business aligned control teams are going to come running back to business COO/CAO teams as soon as they can.
Derick is the man! He just got into his role.
I have faith
What about DF? He has been in his role for almost 6 months.
I’ve often wondered the same thing. Any fair assessment of his tenure at Wells Fargo would conclude he has moved the needle very little in terms of fixing the risk and control environment at the bank, which Charlie touted as the number one priority every time he spoke to a large audience. More broadly though, I don’t understand how the RCSA program could go through all of these starts and stops while Wells is under such scrutiny from regulators. The only explanation I can think of is the regulators are just as inept as Charlie and Team.
Can't be as bad as "Mr. Efficiency" who's being moved around and promoted all over Saul's organization.
When will the rcsa end?
@ iny+1i3qCBwn, I’m so excited (not) - looks like I’ll finally get to go to CLT after 15 years at the bank. Wooo hooo. 😐
I've often wondered who was originally in charge of the RCSA work; it's been a disaster from day 1. My previous bank went through it...but it only took one round. Was it a lot of work? Of course. Did we have to stop, start, start over? Heck no. They must not have brought in the right talent to run it, is all I can figure. What a s8ht show.
Wait to see the travel expenses next year as all RCSAs must be done in person.....
He creates an incredibly toxic organization that runs on emergencies and fire drills. Then he pushes out all the good senior leaders and hires a bunch of clones of himself. I’m sorry for all the business aligned Control folks who are now formally under his thumb: there’s no escape from him anymore.
Other than being incredibly rude and condescending? Not much. He just says stuff is "stupid" and then spends months widely over-engineering a "solution" while telling anyone who disagrees or has questions that they are stupid.
Both glad and sad, I'm not the only one seeing this problem. They "solve" the same problems in many elaborate ways, then change them before execution starts on the original plan. A real circle jerk.
Absolutely nothing, but wasted a lot of time and money. The RCSA process was one of the biggest dumpster fires I have ever been a part of over a 20 year time span with the bank. No plan, no direction, no accountability, etc.
Not sure how a company this size and get away with such disfunction when tied to regulatory matters.