Thread regarding Wells Fargo & Co. layoffs

An email was recently shared with IT&V staff regarding the "partnership" between EBCE and IT&V. It is odd to me. IT&V are being told to not share documents with EBCE, offer any help or anything to EBCE. What happened to "we're better together" and teamwork? Is RCSA actually going to happen?

I worked for more thank 6 banks ranging from $2 trillion to $100 billion, and I never heard other banks have this kind of laughable IT&V function.
It is a show job with nothing value added. Period.

I worked for more thank 6 banks ranging from $2 trillion to $100 billion, and I never heard other banks have this kind of laughable IT&V function.
It is a show job with nothing value added. Period.

Hahahaha! They are going to "react" - exactly. Why not get in front of it? PD doesn't listen to himself talk. I have never observed a leader at that level come across as disengaged and bored as PD...except maybe CS although he tries to look engaged. PD doesn't even try.

I agree PD must be miserable. I'm kind of surprised he's lasted as long as he has in the role. He seems like a lawyer who probably (?) understands law and maybe regulatory compliance, but testing and controls are not his wheelhouse at all. There aren't that many people in IT&V who understand testing and controls. Which is saying something, considering how large the department is and how many people they pick up screaming for escape from Internal Audit.

Everyone there is miserable and 90% of it is PDs fault. In his defense I think he’s miserable in that role as well.

IT&V sure can and will keep offshoring, but that doesn't help the loss of knowledge and the ramp-up of new employees. They'll probably do everything they can to keep RCSA-related responsibilities onshore, but if those resources are overworked and quitting, I don't know how well it's going to work if I&P performs RCSA reviews, identifies issues, and renders opinions.

On one hand, deliverables that are due will be generated. IT&V will make sure they produce something. But then RCSA validation goes to Audit (ha) and then regulators. Things could get verrrrrrry hairy then. But like so much here, that's down the road - leadership will ignore problems for now while planning to move on before they're forced to sit the proverbial hot seat.

IT&V will just continue to ramp up the offshoring of US based jobs to WFIP. They can get them for pennies on the dollar there and I'm sure it's one of Schart's mandates.

Even if industry peers are going to hybrid or full week in office, this doesn't mean WF employees can't find something better. Go to a different industry (easier said than done for some people, I realize) or go to an industry peer that requires you in the same amount, but is a better commute, better pay/benefits, better work, better management and team, better prospects for growth, etc.

What do you do if all companies are going to hybrid or full week? That's where the industry is headed.

Of course attrition will continue, likely higher, in 2023. The financial. mental and physical cost of RTO for many of us is just too much. Many of us took our job specifically because it was remote and we are just timing our exit.

The wellsfargo shitshow is sure to continue in 2023. What will change in 2023?