Can someone please explain what this is and how it affects me in middle office? Is extra work coming my way? Like I don’t understand the relevancy of this
23 replies (most recent on top)
It has been one of the biggest failures that I’ve witnessed in more than twenty years with this company, so that says a lot.
Upper management has been running this model for two years now and most of the employees are unable to even describe its purpose or why we are doing things the way we are now.
It has only forced people to try to get past numerous gate keepers in order to get anything accomplished. Progress to get anything done is the slowest that I have seen in 20+ years.
@19b+1jkb957vt You are right, we shouldn’t be afraid of anyone. Providing constructive criticism didn’t help, at least for some of us who did it. It’s exhausting with little results.
Consequently more coaches are being hired, possibly at the expense of some ops personnel.
@18d+1jkb957vt
You and your advice are about as strong as cold hot dog water. The only troll waste here is you.
@18d+1jkb957vt - I'm sorry if I misunderstanding here, but your suggestion is that we all must live in fear of the almighty, Mckinsey?
The entire point of this thread is that none of us have the required level of psychopathy to just go with the flow, as you suggest.
But big congratulations to you on fitting in with the clowns.
Folks, this site is full of trolls. People are very courageous if they can post anonymously.
Be careful what you say about this model. I know for a fact that Mckinsey will reach out to you and follow up, send you surveys, endless emails and so on. Will make your life miserable. No good deed gets unpunished.
If you want to keep your job, just go with the flow and you will be here for 45 years.
Mckinsey is just a complete fraud and glam fad with buzz words galore for senior executives who have no ideas and experience to build their own constructs. And to think, we ‘pay’ through the nose for this garbage. Robin is the one who brought McKinsey back (again) to redesign and realign the way the bank works. He then put Dermot who is a siloed thermos to lord over this. It underscores how the bank’s new regime views people- as expendable pawns on a spreadsheet. How much input did our clients and regulators have on this? Our shareholders simply won’t care until we have problems because of this. It is lunacy as to how much time and people are wasted by this model which overcomplicates things that should be small scale. Who cares anymore…
A while back I googled P O M to find out who is actively using it and to learn more about it besides what we have on MySource.
I found links to McKinsley's, Boston Consulting Group's and Bain's websites saying how great and necessary P O M is for companies to succeed.
Then a link to BNY article.
And a small article about Lloyds Bank using it.
And of course, links to the BNY section of thelayoff.com!
Its trash. Its senior management trying to combine multiple teams who have nothing in common into one system to process out of or get to a more automated position. The system has been getting created for two years mirroring what my team already uses but that sh-t doesnt work and has major problems yet the mo--ns overseeing it arent being honest with senior management. Its also all corp trust clowns who know sh-t about the institution side handled by other people so they're ignoring SME’s , process and product owners and doing what they want. Which is make a damn mess
It’s very frustrating but someone comical what a disaster. This is so far.
McKensey sold these chumps on this way of working and none of the executives understood the downstream impacts It would have other than headcount savings and stuff seems to keep blowing up… & McKensey is gone & no one seems to know what to do…
And the other half of the company tells management what they want to hear
I don’t know about the rest of you, but things have been extremely chaotic and endlessly frustrating lately. No end in sight…
the entire MO isn't in P-M yet, Accounting isn't till phase 3
@gn - If you're searching for the BNY cheerleaders, head right on over to LinkedIn. You're in the wrong spot.
My 'manager(s) of the month' have been warning us for the past two years that this is coming, but they still don't know what it really means for our team. So I'm just taking it a day at a time like I have for the past several years. Good luck.
This board shows that it is loaded with hate-filled magaats (sic)
There was a question posed and @g5+1jkb957vt posted a reference that could throw more light. It shows that answers that provide a meaningful source will be disliked here. This is not a place to share information or look for information. Post messages that the bank is sinking (and that is a speculation) and magaats crowd will cheer
When will these guys leave or be fired.
Honestly, p-m isn’t bad
Platform Operating Model is explained in detail in Mysource. If OP is a BNY employee and not an ex-employee or outsider - he/she can easily read up / watch the videos and even familiarize with some SafeAgile terminologies that will be full force (all those acronyms and what they really mean
Let's be honest here, this place is a complete circus right now. Those who think they know what's going on are just blindly trusting the messengers at the top. The rest of us can actually see & feel the utter chaos and disarray. The OP is probably someone with an actual job function other than attending endless P-M calls about nothing, the question is not surprising...
For the person asking why the glib replies, probably two reasons: 1. As someone mentioned, it’s just a McKinsey ax-moirder exercise; 2. With MO in the model for more than 6 months, shouldn’t the OP be aware already of its affect on the workload and process?
It’s just a way to slash jobs.
3 years from now Mckensey will be peddling some other BS
BNY hired McKinsey & Co to implement scaled agile framework.
It’s the new way of working. Yes MO has been in the P-M model, I believe 3rd quarter last year. Meant to replace some annual and strategic planning tools. The P-M model has a new strategic tool as well to operate in that is integrated with finance, HR, and “Work” as in Jira stuff. This is what I learned just recently. Hope this helps :)
I wouldn’t say more work is coming your way but it is quite bit to learn.
It really depends on what your role is but roles such as RTEs and STEs have ALOT of work in my experience and MO is big !!
Just out of curiosity - are the 2 replies below representative of BNY staff these days?
OP was asking a legitimate question, and got back nothing but horse pucky... There was a time when people were helpful, and if someone didn't have anything to say - they just wouldn't say anything.
If this is what BNY has really become over the last couple of years, I have little sympathy for the place.
Essentially you "silo up" the functionality of your drones so they are easier fire, cheaper to replace and lastly easier to move their jobs offshore. Layer in a little spaceship beep boop and bamm!!! You've got yourself a strategy.