Thread regarding Wells Fargo & Co. layoffs

This person must be joking.

Everyone I know in risk is so busy and stressed, they no longer have office or work from home days, and can barely keep up with their own workload.

@1faw+1o6HwSZp One of the only benefits of working in risk is the occasional chance to corner one of these rats. They are still here

Soooooo dull.

Looking forward to the day in the near future when I no longer have to hear about “risk” all the time. Boring.

@1uuq+1o6HwSZp Frontline cannot do risk management is an empty argument. Secondline and Thirdline don’t have any magical abilities nor have they magically appeared on the scene recently. I don’t want to name names on this forum but many big name zealots we know today were present and enabling scams a few years ago.

1ern+1o6HwSZp- the front line’s lack of risk management is why WF is in this state to begin with. The front line couldn’t tell you a risk from a control if their lives depended upon it. And if OP was actually in risk management, they wouldn’t be sitting around twiddling their thumbs. People in risk management at this bank are so busy right now, they can’t take restroom breaks…,

@OP you can be sure there is no risk of any management in this company. Take it easy and keep collecting paycheeks

We are all risk managers. Don't think you're that important, OP.

Business teams doing real work are being fired while these risk managers are growing. Charlie has lost his mind. This is the end of Wells Fargo.

@1ayk+1o6HwSZp - how are you accessing this site? And do you work in Risk? Lol

You can not access this website from a Wells Fargo computer this is a block site you would need to get unlocked through a SAS request so this is a Troll from another company. A “risk manager” would know this is a blocked site….

Most of these id--ts wouldn’t know risk if it hit them in the face. Bunch of douche bags with mediocre (being generous here) qualifications that worked their way through the privileged white boys club. We need more women of diversity.

I know the feeling. I manage a team and luckily neither my manager nor anyone reporting to me is in the same site.

I’m going to bring this back to the top:

lights do not change color in that order and no light changes randomly, they are all timed to create “traffic herds.” But yeah, risk. Mmhmm

Boggling how some hub workers will keep their jobs with nothing to do just because they can sit at a WF desk, while remote workers who are non-stop busily working will be laidoff. So ignorant, it's just blows my mind!!!! WF priorities are so messed up.

Some people seem to have a lot of spare time on a workday to write all this

It must be the senior executives in TECH risk

OP thinks traffic lights changing is pointless. Alrighty then.

Risk management is the title yet the spoken and unspoken message is “stop escalating all those risks” If you raise risks, you are conveniently ignored or the risk is shuffled around to people who don’t understand or care about the risk. If the risk does somehow get the attention of someone, you are told it is a business decision to determine if the risk raised is really a risk. Lastly, the identified risk floats away to nowhere land. End of the risk management story.

Enjoy it while you can. It might not last much longer.

They thought they could recesutae WF risk operations by stealing people from BOA. They turned out to be a bunch of incompetent blowhards who accomplished nothing.

That hit the nail right on the head

What is a risk manager supposed to do at a bank? Do you do any of the following:
what does a risk manager do at a bank?
ChatGPT
A risk manager at a bank is responsible for identifying, assessing, and mitigating various types of risks that the bank may face in its operations. The role of a risk manager is crucial for maintaining the financial stability and integrity of the bank. Here are some of the key responsibilities of a risk manager at a bank:

Risk Assessment and Identification: Risk managers analyze the various risks that the bank is exposed to, including credit risk, market risk, operational risk, liquidity risk, and more. They evaluate the potential impact and likelihood of these risks occurring.

Risk Measurement and Quantification: Risk managers use quantitative tools and models to measure and quantify the potential losses that the bank could incur due to different risks. This involves analyzing historical data, market trends, and other relevant factors to estimate the potential financial impact.

Risk Mitigation and Strategy Development: After identifying and measuring risks, risk managers develop strategies to mitigate these risks. This could involve setting risk limits, designing risk management policies and procedures, and implementing controls to minimize the impact of adverse events.

Portfolio Management: In the context of a bank's lending activities, risk managers assess the creditworthiness of borrowers, determine appropriate loan terms, and monitor the bank's loan portfolio to ensure that it remains within acceptable risk levels.

Market and Investment Risk: Risk managers evaluate the potential risks associated with the bank's investments and trading activities. They monitor market trends, assess potential losses, and implement strategies to manage these risks effectively.

Operational Risk Management: This involves identifying risks arising from internal processes, systems, human error, and external events. Risk managers work to implement controls, processes, and procedures to minimize operational disruptions and losses.

Compliance and Regulatory Requirements: Risk managers ensure that the bank's operations and risk management practices comply with relevant regulatory guidelines and standards. They help the bank stay in compliance with laws and regulations related to risk management.

Stress Testing and Scenario Analysis: Risk managers conduct stress tests and scenario analyses to simulate extreme market conditions or adverse events. This helps the bank understand how its financial position and operations would be affected in different challenging scenarios.

Reporting and Communication: Risk managers prepare reports and presentations for senior management, board of directors, and regulatory authorities, providing insights into the bank's risk profile, risk mitigation strategies, and overall risk management effectiveness.

Collaboration: Risk managers collaborate with various departments within the bank, including finance, operations, legal, and compliance, to ensure a comprehensive approach to risk management.

Overall, the role of a risk manager at a bank is to safeguard the institution's financial stability and reputation by identifying potential risks, assessing their impact, and implementing strategies to manage and mitigate these risks effectively.

Nothing new. I hate to confess, but this is pretty much the norm for middle management in risk. I can attest to that. Let’s not ruin a good thing and keep that paycheck coming.

is this the ‘i talked like charlie’ guy again? dude writing isn’t your thing.

Charlie gets paid to tank the stock price. Would that be a more fulfilling calling?

Enjoy your day!

OP,

I'm going to go ahead and just rip the band-aid off.

Dramatic writing isn't your forte.

Don't feel too bad though. There used to be someone here that thought he was a poet.

New topic:

What is it about boring office jobs that make the people that do them think that they're creative?!

How do I know this post isn’t worth reading in the first sentence? “ traffic light, shifting from red to amber to green ” your ChatGPT input was trash so it gave you trash back.