So the bank president can change the severance for bank employees to min 26 weeks (all those under 13 years will get 26 weeks, those over 13 years will get the greater amount). But I guarantee his golden parachute wasn’t cut in half or anyone in his... — read more 

With the changes in the bank severance payouts from an automatic 52 weeks to now 2 weeks for every year (minimum 26 weeks and max of 52 weeks), that signals massive layoffs are on the horizon. Michael is going to strip teams to their barebones... — read more 

The writing is on the wall for this company, and it couldn’t be clearer. With the CEO dropping major hints about employee displacement this year and next, it’s obvious that a wave of layoffs is looming. This isn’t just a routine restructuring—it’s a... — read more 

Naming a new USAA Bank President with so little experience that a USAA Board member Brad Connor, who has a wealth of banking background, is assigned to oversee him. Naming a new USAA Bank President who has a family member on the Board... — read more 

I had a feeling he’d be named permanent bank president, dude is 100% about the finances. With the bank operating at a loss, he’s going to slash departments down to the bare bones, most contract work will be canceled, and yes, massive layoffs. The... — read more 

https://newsroom.mtb.com/2025-01-27-M-T-Bank-Appoints-Neeraj-Singh-as-New-Chief-Risk-Officer

Did you see that Juan’s old company posted a $1.7b reserve strengthening hit? That means he seriously mismanaged his pricing and underwriting. No, it isn’t all “run away inflation”. Did he disclose that or did you give him a buy out on his... — read more 

To say I am horrified even if this is bad timing is an understatement. The only thing they seem to care about is their survey’s. If you are equally horrified, you know what to do.

The whistleblower had been telling the truth after all. https://www.complianceweek.com/regulatory-enforcement/whistleblowers-defamation-case-reveals-scope-of-usaa-coverup/35664.article The first area of deficiency listed by the OCC (2024) was... — read more 

... and I'll talk about that in a minute

Does anyone have knowledge of whether and when Compliance (specifically Bank compliance) layoffs are coming?

What exactly is the role of these unusual groups of people called HR partners? I fail to see any value in their role. They neither interact with managers nor associates, and they don't communicate effectively with the teams. The HR organization is in... — read more 

Be prepared it will be 5 days and for those who don’t like it you will be worked out. Juan is for full RTO

Does anyone have insight into what the baseline Merit % is this year? I know last year it was 4% +/- but have not heard anything this year at all.

Starting a “layoff list” of EMG and EC Members for Juan to MAKE USAA GREAT AGAIN. Add your picks to the list with one (okay up to two) reasons for your selection. Who will make the list?

For $450k (plus bonus) you can have a sweet job promoting who knows what at USAA. While CA burns the company is filling make believe jobs? The rest of the country is stripping out this woke stuff. USAA doubles down.

Be prepared it will be 5 days and for those who don’t like it you will be worked out. Juan is for full RTO

The Fraud org structure is one that has never been seen at a healthy company - it’s incredibly top heavy with almost every IC being a Senior or Lead. The leadership is all over the place and as someone who partners with Fraud, not even the people... — read more 

Has anyone heard if they will be getting rid of any of the consent order problem causers? I guess some are gone but it feels like major changes are needed. Any talks about hiring requirements coming out of consent order? It might be still too... — read more 

I know they’ve tried to spin this to try to find “the silver lining” No such thing! Cease & Desist is NEVER good https://www.occ.gov/static/enforcement-actions/eaAA-ENF-2024-96.pdf We are in deep do---o because Wayne & Amala are AWOL! Amala... — read more 

There are troubling rumors that key VPs are leaving USAA, with one from the CTXO Platform and another from CTXO Architecture. It’s hardly a good sign when high-level executives start to abandon ship. Yet, the CEO and EMG continue to brag about USAA... — read more 

Does anyone know if and or when our annual bonus will be paid out?

She is who is to blame for the chaos going on right now.

How Juan? No way

Comments ?

I guess this is not what we meant.

Let's predict how long it'll be before it's obvious what a colossal failure this choice is. I say six months.

Is this for real?

Jim Zortman, you should resign immediately!! Picking another civilian to be CEO, have you not learned anything from the past 4.5 years!!

Let’s go

I’ve been here for 2 years and taken a lot of s**t. I look the other way when my boss is bullying someone, makes a coworker cry or makes some outrageous claim about how great he is. But this pushed me over the edge: In a 1 on 1, my boss asked me why... — read more 

Was this position just filled without a posting? Will B. Has moved on from USAA and now the CISO reports directly to Amala. Why the structure change?

The Bank consent order right before the holidays took the wind out of a lot of sails, but hopefully 2025 will be the year to make some progress and become profitable again. Leadership seems confident that there are plans in place and they’ve been... — read more 

The Chief has determined ECIO has too many issues and now has issued a mandate to close 70% of issues by end of Q1! Doesn’t matter how, just close 70% of issues! Can’t make this stuff up. They are calling it Operation Car Wash. Regulators will have a... — read more 

Out of the many places I’ve worked, this is where leadership feels the weakest. There are so many things missing - vision, commitment, and a plan for the future. Without better leaders steering the ship, it’s hard to see how we can do well... — read more 

1-USAA hired a ton of compliance professionals from other banks after the USAA 2019 consent order. 2-USAA process owners, advisors, managers, directors, EMGs, and leadership were made aware of compliance issues from 2019 to 2024. 3-This is the... — read more 

The consent order from the OCC is much more damaging then anyone within the EMG is letting on. There are serious discussions about eliminating the yearly bonus for the Bank and other LOBs as well. 2025 is going to be worse than the last 4 years... — read more 

Anyone get info about January NEO travel? Do they really contact you a week before?

We are pressured to perform based on unrealistic expectations, and we never get rewarded for the effort. Pay is not exactly something to write home about, while personal investment in terms of time and energy almost never pays off. Advancement... — read more 

OCC issued a new cease and desist order for USAA today: https://occ.gov/news-issuances/news-releases/2024/nr-occ-2024-137.html