I feel like it’s already happening….. They have the data entry part down for spreading financials. What would stop USB from telling them to also do write ups etc.?
It feels like the only professions untouchable by india is law, medical, and trades…..
If foreign contractors save Gunjen money, the performance standard is much lower. Get use to it.
The real value to offshoring across the world is when something goes wrong the consultants just blame a faceless corporation across the world. The DOJ/Treasury/OCC have no jurisdiction to subpoena records from Indian consulting companies.
Look at the Coinbase "hack". Look at the Wirecard fraud. Look at BigBear.AI.
They sell you on "cost reduction", but the real value is reduced legal liability and scapegoating the Indian workers.
k1 - it’s not denial that the Bank can offshore, they certainly can and will, as their competitors have done. The denial is that the Bank can do this successfully, or manage it long term. Does anyone have a success story to share where work was offshored and executed well? The only time I’ve seen this is when someone was forced into this model and has had to spin it as a success story.
It’s also a complete indictment of the mo--nic management of the bank that they would even consider this. It’s not like credit card or help lending, the efficiency ratio of Icg is like 10 percent. The fact that they even try and cost cut Icg is because the bank is saddled by 10,000 make work aml workers, 5000 SAAS procurement people, 5000 credit card sales people.
It’s crazy to think someone in india who can barely speak english and never has set foot in the US, would be responsible for underwriting commercial real estate loans. Nightmare
here you go with the UNDERWRITING QUESTION
U.S. Bank Is Offshoring Mortgage Roles
U.S. Bank’s decision to move many home mortgage loan roles offshore — including underwriting, processing, and client support — is driven by a combination of cost savings, operational efficiency, and scale, but it also reflects broader industry trends and internal restructuring pressures.
Cost and efficiency drivers
Offshoring to countries like India offers significantly lower labor costs compared to U.S. wages, especially for back-office and support functions. This allows banks to maintain or expand services while reducing expenses LinkedIn+1. Many of these roles — such as initial underwriting reviews, loan processing, and sales support — are transactional and can be managed remotely, making them prime candidates for offshore staffing LinkedIn.
Industry-wide outsourcing trend
The mortgage sector has seen a shift toward outsourcing and offshoring for roles that don’t require deep client relationships. According to industry data, 1 in 5 companies that laid off U.S. employees replaced them with offshore workers, often in customer service, tech, and data entry roles ResumeBuilder.com. U.S. Bank’s move aligns with this trend, where cost savings are prioritized over keeping all staff domestic.
there ya go
@am you are in serious denial if you think it is impossible to offshore to India, look at the other companies and their jobs roles - they are building the whole back office operation overseas with almost every job title
@a6 sadly, correct
@bw the bank is currently testing ai spreading so I can’t imagine they’ll keep this role once that happens unfortunately.
Does anyone know what's happening to the remaining portfolio monitoring analysts (aka preunderwriters) in the US? I keep seeing reposts of these roles on the career page. anyone have any insight into this group?
It’s already happening. They do spreads and initial credit workups.
We are forced to send our “friends” in India PM tasks. If not, Eric sends an email advising we are not utilizing them enough.
@am That's the USB way, destroying things so they can build them again a few years later and give each other Platinum Shields and Legends trips for being SO innovative.
Absolutely not.
Mass hiring at scale in offshore markets does not yield elite engineering or business talent. India produces roughly 1.5 million engineering graduates annually, but studies from industry analysts, including a widely cited McKinsey report (the irony??), found that only 25% of Indian engineering graduates are considered employable by multinational standards without significant additional training. For a large financial institution requiring engineers who understand complex, legacy financial systems, regulatory constraints, and high-availability architecture, the realistic hiring pool narrows considerably.
Bulk hiring under cost-cutting pressure compounds this, organizations default toward quantity over quality, producing exactly the C-tier workforce concern raised here.
Teams that have previously worked with India-based engineers, product managers, and UX talent have absorbed the friction quietly and locally. The difference now is scale. What were isolated incidents become systemic patterns. What were manageable team-level slowdowns become enterprise-wide delays. And critically, employees and customers who were previously insulated from these dynamics will now experience them firsthand, creating a reputational and morale problem that compounds the operational one.
Offshoring at this scale, under this level of scrutiny, in a domain this regulated and complex, has a poor historical track record even under favorable conditions.
The data on talent quality, code defect rates, communication failure, and distributed team performance all point in the same direction and this time, there's nowhere to hide when it goes wrong
@a6 https://careers.usbank.com/global/en/search-results?s=1
There were 40 roles showing on Monday (that's 4 days ago for the mathematically challenged) and it's already down to 15 (means 25 of those roles have been filled). Meanwhile US employees sit around waiting for months just to get a rejection.
Mortgage, BLQA, Risk, Corporate Accounting, Operations - roles in all these areas are listed right now. We are so cooked.
@a4 I know the nuke comment is inappropriate but I absolutely see this as economic warfare where India is trying to hurt America. I wish we would get a president and A legislature with ba--s and actually make it illegal to outsource jobs to another country.
They're not going to be contractors anymore, they're going to be employees who do everything US employees do. Go look at the roles being posted externally on the USB site to see which roles will be performed in India.
Honestly why are we at war in the Middle East, nuke india instead