I'm pretty new to the world of Issues Management, but it seems like the most over engeineered waste of time. I have never seen so much paperwork, chasing for approvals, reviews and other such nonsense in my life. Jesus Christ.
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Just wait until CR's org in India and the Philippines becomes actively engaged in Issues Management. They are staffed UP to the gill and hiring 100's more.
@1oha+1l06KctG / areas within tech control that cover consumer lending and payments are probably the ones you are alluding to. The payments area closed a bunch recently almost overnight (as were they were clearing the 2022 car inventory), only to raise them right before the year end. I kid you not!
Tech control makes it worse, they have like 3 teams aligned to each issue, 4 if you count FLIV.
The best idea to meet the quota comes from tech control. They split issues into multiples, and obviously old issue gets rehashed into new brand new ones of no consequence whatsoever. Another brilliant tactic is to keep issues open endlessly as a way to blackmail stakeholders into accepting silly new ones.
There is a quota for each LOB to have a certain number of issues self-identified etc. to show they are doing something for risk. So once again - quotas are encouraging wrong behavior - has this company learned nothing? This takes away from the real work as people are incentivized to "find" issues.
WELCOME TO WELLS FARGO!
….but noooo, we’re not “too big to manage.”
You should have seen it when it was called GIM, what a fe--s show that was, they finally got rid of the woman I'll call "Turk" who made it even worse. I had to redo root cause and issues over 15 times to get it through because they kept having different reviewers looking at my LOB's documentation and everyone was wrong, one would pass what another would fail, it's on par for the way things are done here, terribly. I'm amazed that people trust us with their money.
The control orgs care about getting issues open then ignore anything to do with ensuring the thing closes. CCIBT and CLT in particular have kept the issue owners out of the process. Head of TI does it right. His directs have to own and drive. Control kingdoms—I mean-teams- take clear advantage. And that is the very thing that the regulators said led to the scandal. These control orgs arrogance are not making us any safer. I hope they rip those teams apart as soon as possible.
It's over-engineered so it can be shipped overseas and understood how to do it by lower paid employees that couldn't normally find their way out of a wet paper sack.
@dtr+1l06KctG The problem is the WF IM process is none of these. OP hit the mail on the head. It was designed and is managed by people self-interested in growing their teams - aka kingdom building. You could get a better result with a simplified process with less layers. Once the MRA for it is closed, half of it will be stripped away, along with as many staff that support it today.
Issues management can seem like a bureaucratic and time-consuming process, but it can also be an effective way of ensuring that problems are identified, addressed, and resolved in a structured and thorough manner. By having a systematic approach to managing issues, organizations can minimize the risk of problems becoming bigger, more complex, and more difficult to resolve. Additionally, having a clear process for addressing issues can help to build trust and credibility with stakeholders, and demonstrate the organization's commitment to transparency and accountability. However, it's important to strike a balance between effective issues management and over-bureaucratization, and to regularly review the processes and procedures to ensure they remain relevant and efficient.
Since the regulators said you Wells need a better “risk culture”, they want more self identified issues. Except if you acknowledge self identified issues , it may be construed to even mean you caused it/ so it is a catch 22. Thus, our illustrious management has made it very difficult to raise issues but wants to show sufficient paper shuffling everywhere . Here are two ways to add to your issue count:1. Create some very basic fictitious issues ; this is very easy for you to do as we all know and 2. Prematurely close issues and reopen the same with a slightly different label.
There you have it guys! This is essentially what we are doing right now!