Do you think that this really fixes the issue Wells Fargo clearly has from an ERM perspective or is there a point where even ERM cannot help a company when it gets “too big to manage”?

The Wells Fargo scandal was a clear example of when ERM fails. Congresswoman Maxime Waters said that the scandal showed that Wells Fargo is “too big to manage”. One of the “fixes” that Wells Fargo presented to Congress was that they got rid of the sales quotas that caused employees to create fake accounts, etc. Do you think that this really fixes the issue Wells Fargo clearly has from an ERM perspective or is there a point where even ERM cannot help a company when it gets “too big to manage”?

** Please include examples and support for your position.**

Sources:

The Wells Fargo Scandal is a Failure in Risk Management

GM’s risk management failures provide lessons for other firms

https://www.protiviti.com/US-en/insights/bulletinv3-i6

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