Once RCSA phase 2 is done, it’s all going to India. Lots more layoffs to come
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Anyone who thinks WFIP is capable of running RCSA, doesn’t know how the process works or how much business knowledge is needed from either the FL or second. Most of the time, Control doesn’t even have the knowledge to opine. Turning over the reigns at this stage would just be opening the door for regulators to pick apart the entire program.
@pie+1t9PtQoN - they are coming for your 6 digit paper pushing gig in CIB. Quickly change a bunch of RCSA ratings to justify your existence.
How long did “Phase 1” take?
Overall, anyone working dedicated to RCSA should expect leadership to try to push as much of the work to India and the Philippines as possible. Chase did the same thing. Now whether Wells Fargo can actually pull it off is a different story.
Don’t know about India, but there are too many people allocated to RCSA in 1st and 2nd line and a lot of them are definitely (and rightly) going to fired.
WF is shifting its business model from the regular RCSA standard to a lower quality mass production in India. This tells us that WF leadership doesn't care about quality standard but they simply want financial profits in their pockets.
Can India work on rcsa without a lot of help from us employees?
OP clearly doesn’t know what they are talking about .
RCSA phase 2 that’s still ongoing has facilitation teams (FTE and contractor). FTEs have been told annual refresh is their BAU, but it sounds like that’s not the case, largely.
The person who wrote this clearly doesn’t know anything about the RCSA program. They would need to go on a hiring spree and FAST in India to be able to handle the number of RAUs. Despite the number of job postings up, the teams that I work with in India have largely stayed stagnant the past year.
D-mbest thing I’ve heard in a long time. No truth to it at all. At least in CIB.
Risk seems to be niche is certain areas-and they have no “strategy” yet. Keep collecting the fat pay…..
Don't believe there are actual phases (or waves, or cycles, or versions), as this would indicate a well thought out and digestible plan. Instead, this is all one messy layoff era with seeds planted in 2018.
We are merely guests working at the bank, being fed nonsense that supposedly should make us better prepared for either being laid off or remaining on board to best support the company's wishes. This couldn't be further from the truth. No one is prepared. No one feels they are a part of Team Wells Fargo. No one knows which Tuesday is their Tuesday to be let go.
It's already happening. last layoff day, my team found out that 1/4 of the domestic compliance team we work with had been displaced. We were informed that there had been a team in india shadowing for months, who would now do the work of those laid off, with supervision from domestic resources.
So yes, anyone who thinks risk, control, compliance related roles are not going to be impacted - think again.
Control is going to run annual affirmation. The only temporary roles in RCSA were the facilitation teams at least un in CSBB. Everyone in that group got their assignments already. Not sure who else you’re referring to.
Not a rumor. Actually Charlie's direct sent out an email to all risk along the lines of "don't worry, we will find something for you to do, you will be deployed elsewhere". I thought, ok if people weren't worried so far, after reading this, they will be freaking out. The mail basically said BCM will go into BAU. But once RCSA full cycle is over, it won't need same amount of people. Maybe 50%. And for that remaining 50%, some are already being moved to India. Let's say 20% is moved, but another 20% find other things to do. So domestic risk (front line) will see more cuts for sure (upto 50% of all those in RCSA).
Thanks for another rumor