I got a job in compliance

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Slim2None's picture
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Joined: 2006-04-14

I'm not going to say which bank, because I'm paranoid about some of you weirdo's that live on this board, 24/7.Let me just say, after one week on the job, my hunch was right-They only hire those broads as sales assistants because they make great eye candy. I go through the paperwork that they were supposed to process, and it's pathetic. Signature cards missing, corporate resolutions are checked off but not in the file...And these broads are getting 75 grand and year and up. Unbelievable. I'm going to start cracking the whip.

Philo Kvetch's picture
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Joined: 2005-05-17

Be careful, Slim.  Think about which of you is more easily replaced.....

knucklehead's picture
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Joined: 2006-07-27

Slim2None wrote:I'm not going to say which bank, because I'm paranoid about some of you weirdo's that live on this board, 24/7.Let me just say, after one week on the job, my hunch was right-They only hire those broads as sales assistants because they make great eye candy. I go through the paperwork that they were supposed to process, and it's pathetic. Signature cards missing, corporate resolutions are checked off but not in the file...And these broads are getting 75 grand and year and up. Unbelievable. I'm going to start cracking the whip.

I've had a couple of compliance jokers decide to "crack the whip" with me and they ended up with deep regrets. One was fired and the other doesn't interact with brokers anymore. If you had been a SUCCESSFUL broker,  you would understand who wins the pissing matches.

The Truth's picture
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Joined: 2004-12-01

Know your place in the business. "Cracking the whip" only works against
those brokers that a firm wants out anyway.

Boomer's picture
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Joined: 2005-04-01

Would the compliance side (large wirehouse) give a decent entry point to a youngster who wants to be a FA?

Philo Kvetch's picture
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Joined: 2005-05-17

He's going to a bank, Boomer.  I can't say from experience, but my guess would be that the bank channel might view compliance a little differently.

knucklehead's picture
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Joined: 2006-07-27

Philo Kvetch wrote:He's going to a bank, Boomer.  I can't say from experience, but my guess would be that the bank channel might view compliance a little differently.

Probably so. Bank brokers are a dime a dozen.

Slim2None's picture
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Joined: 2006-04-14

I was only kidding about "cracking the whip". I have no interaction with anybody. I simply review the files, and make the proper entries. I don't know who did the account, or why it looks like Hellen Keller on LSD processed it. I simply record what was in it, and what wasn't in it. Whatever anybody does with that information after that is none of my business. 

babbling looney's picture
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Joined: 2004-12-02

Slim2None wrote:I'm not going to say which bank, because I'm paranoid about some of you weirdo's that live on this board, 24/7.Let me just say, after one week on the job, my hunch was right-They only hire those broads as sales assistants because they make great eye candy. I go through the paperwork that they were supposed to process, and it's pathetic. Signature cards missing, corporate resolutions are checked off but not in the file...And these broads are getting 75 grand and year and up. Unbelievable. I'm going to start cracking the whip.

Having worked in a bank for years first as a commercial lending officer and then as a bank investment rep, I counsel you to approach the issue with a kinder attitude.  Obviously there hasn't been any compliance oversight in quite some time.  You should approach this as a learning and coaching opportunity. I suggest you hold some mandatory meeting that go over the compliance issues that have been deficient and devise a program where you teach and have oversight at the same time.
You might find that the "empty headed eye candy" reps are really intelligent women who would like to learn to do their jobs better.  Besides there is nothing more nasty, sneaky and vindictive than a bunch of pissed off women.

knucklehead's picture
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Joined: 2006-07-27

babbling looney wrote:
Slim2None wrote:I'm not going to say which bank, because I'm paranoid about some of you weirdo's that live on this board, 24/7.Let me just say, after one week on the job, my hunch was right-They only hire those broads as sales assistants because they make great eye candy. I go through the paperwork that they were supposed to process, and it's pathetic. Signature cards missing, corporate resolutions are checked off but not in the file...And these broads are getting 75 grand and year and up. Unbelievable. I'm going to start cracking the whip.
Having worked in a bank for years first as a commercial lending officer and then as a bank investment rep, I counsel you to approach the issue with a kinder attitude.  Obviously there hasn't been any compliance oversight in quite some time.  You should approach this as a learning and coaching opportunity. I suggest you hold some mandatory meeting that go over the compliance issues that have been deficient and devise a program where you teach and have oversight at the same time.
You might find that the "empty headed eye candy" reps are really intelligent women who would like to learn to do their jobs better.  Besides there is nothing more nasty, sneaky and vindictive than a bunch of pissed off women.

He is a bottom rung compliance hack. He won't be holding any mandatory meetings. What's wrong with you?

Slim2None's picture
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Joined: 2006-04-14

knucklehead wrote:

He is a bottom rung compliance hack. He won't be holding any mandatory meetings. What's wrong with you? And you began your career as a...?

knucklehead's picture
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Joined: 2006-07-27

Slim2None wrote: knucklehead wrote:

He is a bottom rung compliance hack. He won't be holding any mandatory meetings. What's wrong with you?
And you began your career as a...?

Broker.

anonymous's picture
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Joined: 2005-09-29

Congrats on the job.  Can we assume that you took the job because you've decided that you don't want to be a broker? 
If you do want to be a broker, quit the job tomorrow.  That position won't teach you how to do the job and you won't be meeting people who could be future clients. 

knucklehead's picture
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Joined: 2006-07-27

It's the Inverse Peter Principle. He has fallen to his level of competence.

Slim2None's picture
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Joined: 2006-04-14

knucklehead wrote:

It's the Inverse Peter Principle. He has fallen to his level of competence. Yep, I could really get that sense of pride the way he said "broker". I wonder if that's how it looks on his resume? Pass the garlic bread.

knucklehead's picture
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Joined: 2006-07-27

Slim2None wrote: knucklehead wrote: It's the Inverse Peter Principle. He has fallen to his level of competence. Yep, I could really get that sense of pride the way he said "broker". I wonder if that's how it looks on his resume? Pass the garlic bread.

I don't have a resume. I have my own business. Resumes are for people who apply for jobs. If I were to change firms, I would make a call and make it happen. Last year's 1099's would be all the resume I'd need and not until we're haggling over the terms. Clearly, you can't relate to that.
Don't be so bitter...at least you got an indoors job.

Slim2None's picture
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Joined: 2006-04-14

knucklehead wrote:Slim2None wrote: knucklehead wrote: It's the Inverse Peter Principle. He has fallen to his level of competence. Yep, I could really get that sense of pride the way he said "broker". I wonder if that's how it looks on his resume? Pass the garlic bread.

I don't have a resume. I have my own business. Resumes are for people who apply for jobs. If I were to change firms, I would make a call and make it happen. Last year's 1099's would be all the resume I'd need and not until we're haggling over the terms. Clearly, you can't relate to that.
Don't be so bitter...at least you got an indoors job. Well now, you're just a regular Horatio Alger. I'm proud of you.

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