Rcsa was invented to destroy American jobs
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To help those willing to understand;
Risk Management, when done right, is simply to mitigate exposures to potential problems that might arise when conducting business activities. This is done by assessing the business environment and documenting your processes.
As it relates to WF; and the financial industry as a whole - there are very specific laws, rules, legislation, and governing entities that require and enforce very specific things as an outcome of the dotcom bubble in 2000 and the housing crisis in 2008.
And given the nature; complexity, and historical track record - WFs risk function is incredibly INEFFICIENT as a result of a historical lack of top down accountability - and more specifically - a lack of integrity in the incentive based structures; which indirectly lead to fraud.
With that said; it’s not a scam or way to destroy American jobs … it’s a way to protect consumers and ensure our financial institutions are acting as fiduciaries.
Though, it is true … WF su-ks at it … and it’s because of 1) lack of talent, 2) lack of skill sets, and 3) overly prescriptive programs that were promised to the government to resolve the consent orders.
Once closed; the risk function should be drastically reduced; because candidly; the red tape at this firm - and low value people in the function - is quite silly.
- - A Risk Professional
RCSA is not a WF thing. It’s done in many other industries and companies. If you were competent at it, why not apply your skills elsewhere?
RCSA is a huge scam created by the risk function to line their pockets. It is a waste to time for what it’s worth. People running the program have burned a colossal amount of money with zero accountability. The gravy train continues as they churn out more and more nonsensical policies and requirements. The bank needs to stop this madness.
It could be used for risk, but it could also be used to create a road map for replacing the domestic workforce with an outsourced one.
Will someone explain what this post is about
WF destroys careers. Fixed it.
It had to create the jobs before it could destroy them