Objective view - Recensione dipendente - Vice President, Risk Management presso HSBC

Hours and responsibilities have increased greatly for retail banking and wealth management division without any increase in pay or even a thank you. The core problem with the bank is that they are behind in times in terms of technology and strategy. Another problem is that the firm is extremely top heavy. We have so many managers on top of managers that layers are 10 fold than what it used to be. We were in a meeting and our head was saying our revenue is pale in comparison to our spending. So what do they do? Cut tellers who are making 14-15 dollars/hour. All I've thought about was why not trim the fat up top and create more transparency and save 100s of thousands of dollars? That's because layers are safer for the guys on top to protect their position. From my understanding the heads run the bank by a spreadsheet. It's similar to Marxist theory. Works on paper but doesn't work in real life. The branches are thirsty for resources and now the hours have increased. So now we have increased hours with less resources, which leads to poor customer service. New tech has led to even longer hours because there's no alpha or beta testing and they just roll it out. I really hope the top management gets their heads together and think things through before making any big changes like this.