Was in a meeting earlier today and was told compliance partners will have lay offs scheduled June/July. Also heard business risk and control teams will be getting cut but unclear on when.
What trying times this is :(
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There are a rare few that have been promoted and now drink the kool-aid and to who money is everything and lack actual lives and have families they enjoy, that believe USAA is a great place. They tend to put their soul into working for the company while ignoring a work/life balance. Eventually 20 years down the line will realize they were just a number.
If you are a member here you need to realize there are 35,000 employees working for USAA and maybe a dozen or so people commenting...there are always going to be people that want to blame the world because they haven't been as successful as they think they should be. Working for USAA isn't like being at Disneyland for the day but it's far better than working for many other companies. Lots of happy employees here, some unhappy employees here, but also some who just want to get paid to do virtually nothing while "working" remotely.
If you are a member here the best thing you can do is move your business out!
It is very true that they are moving all learning to online platforms. Another Bank of America exec came in and is slowly squeezing out instructors.
I'm not an employee, but I am a 25+ year member. Someone told me about this site and I can't believe what I've been reading. I don't know how to fix the problems or what I can do other than pray for the board to come to their senses and realize something is inherently wrong with how the company is being run. Wishing those of you who are still there the best.
Sometimes do more than managers does not cut it. If you do not produce any value, then you are gone. Nothing a manager can do with out a little extra work. Besides they are salaried too, work an extra half hour a day, no biggy… powers that be only care about money and value right now…
I heard L&D is to cut 30 instructors by 2024 and most learning is now going to be LMS format instead of instructor lead.
I guess me being a senior I will be next on the chopping block. It’s kinda degrading to hear from some that we do absolutely nothing. Some of us do mentor, train, do 1x1s with analysts, pass on knowledge and guidance from prior positions, etc. but it doesn’t help that there may be some that do just slack and make it look bad for the rest of us :/.
My area of bank, they just sent out an email this morning asking for everyone to list their task and responsibilities and to have it in by June 6, who knows what that could mean, especially with the big re-org that happened 2 weeks ago.
Seniors are just manager backups and they just do some admin stuff. They dont do much at alll…they sont even work alerts or cases. The managers make analysts ‘who want to become a senior or manager’ do most of the dirty work like training and mentoring…
Anyone heard anything on L&D layoffs?
They have one "senior" for every five or so quality analyst or investigators in AML. They make at least 15k more than their counterparts and don't do any more work (some even do less)! They will definitely be targeted for job cuts if they haven't already. The smart ones are getting out now.
It’s probably seniors within AML/KYC since managers were asked for a list of tasks that they’re responsible for
Sounds like they are keeping numbers below the WARN requirements. I bet the compliance people will be AML and some Enterprise Compliance functions. They did away with Celie and are moving teams under CoSa type compliance teams. It makes me feel Enterprise Compliance program office isn’t really needed anymore.
“We remain committed to our employees.” Right up to the moment you notify them they don’t have a job anymore.
Welcome aboard the Wayne Peacock Titanic.
Any CoSA info for compliance and BCM? Specifically asking about P&C
I heard it's at least another 300 people enterprise-wide. At this point, if you are a USAA employee and not actively putting out applications to get ahead of the rush for employment, then I hope you at least have enough of a cushion saved to weather a bout of unemployment.
Any ideas or hints you wanna share where in Compliance? How many #s?