Situation Audit-Wells Fargo

Introduction

Wells Fargo is an American international banking as well as a service holding company whose headquarters are in San Francisco, California. The economy of California had boomed following the discovery of gold at Sutter’s mill in the year 1849m, an attribute that lead to a huge demand for shipping. Henry Wells and William Fargo joined other investors to create Wells Fargo and company that were meant to serve and profit following this demand. In July 1852, the company had started the transportation of their initial loads of freight, engaging in banking and consequently making tidy profits from the traffic of gold (Partnoy & Eisinger, 2013).

            Wells Fargo along with its consolidated subsidiaries is a covered company for the objective of the resolution plan prerequisite under the Dodd-frank wall consumer protection and street reform act. The company acts as a diversified, community-based financial institution owning more than $1.9 trillion in assets (Wells fargo.com, n.d). The company has taken an assortment of strategies that are mean to promote their overall resolvability along with the commitment to undertaking extra actions to ensure they enhance their resolvability and meet the increased regulatory expectations.

The current CEO of Wells Fargo is Timothy J. Sloan an American banker having been in the position since October 2016, when he succeeded John Stumpf. He previously was the company’s chief operating officer (COO) and president (Wells fargo.com, n.d).

            Wells Fargo is a financial institution that offers to finance to players in almost all the industries as government, energy, education, technology, agribusiness among others. They provide insurance, banking, investments, mortgage, along with consumer and commercial finance. Wells Fargo & Company is a diversified, financial services company that were founded in 1852 with their vision being to meet their customers’ financial needs and additionally helps them thrive financially (Wells fargo.com, n.d).

            Wells Fargo owns $1.9 trillion in assets, making them the 3rd largest in the United States, possess $1.5 trillion in retail brokerage client assets, making them the 3rd largest U.S. retail brokerage firm (Wells fargo.com, n.d). The organization is found in more than 8,600 locations, the internet, 13,000 ATMs, and mobile banking. They had offices in 42 countries and territories, with approximately 269,000 workforces and was ranked 27th on Fortune’s 2016 America’s largest corporations (Wells fargo.com, n.d).

Step 3

            The emphasis on the assessment of the values that are exhibited by Wells Fargo is the fact that they employ them as the platform guiding all their decisions, conversations as well as interactions. Their values the basis that anchor each product or service they offer and every channel they operate. The core values that Wells Fargo employs in the delivery of their products and services include the emphasis on their people as the basis of their competitive advantage. They strive to develop, attract, retain, and moreover inspire the most talented, caring team members across their businesses and functions (Wells fargo.com, n.d). Further, they ensure that they offer the tools along with training team members require to do well in their work.

            The second element is ethics whereby they endeavor to be renowned by the stakeholders as establishing the standard among the greatest companies for honesty and moral performance. Trust, honesty, along with integrity is necessary for the realization of the highest standards of corporate governance. Wells Fargo aspires for their customers to believe them as their financial resource through offering them honest guidance, aiding them to attain their financial objectives, effecting transactions accurately as well as promptly, or offering them with products as well as services to meet their needs (Wells fargo.com, n.d).

            The third component is ensuring they deliver what is right for their customers ensuring that other than offering the best value for their clients, they protect them from any challenges that may arise. The prevailing priority at Wells Fargo is in the protection of the confidentiality of their customer’s data and information (Wells fargo.com, n.d).

            Wells Fargo aspires to build as well as sustain a diverse and comprehensive culture for all team members. It encompasses one whereby they feel valued furthermore respected for who they are and for the skills and experiences they introduce the company. The desire is in ensuring that the team members feel comfortable moreover take pleasure in being part of our community.

            The vision employed by Wells Fargo in the delivery of their products and services is in the desire to meet the financial needs of their customers and ensure they succeed financially. The vision of creating financially successful customers is founded on a simple premise. It follows that the believes that customers in all business segments can be better served, thus saving as well as money, when they bring their financial issues to one trusted provider who knows them well (Wells fargo.com, n.d). The trusted provider should additionally offer the clients reliable guidance, furthermore can serve all their financial needs via the wide assortment of products and services.

            The goals that inform the delivery of services and products at Wells Fargo are a reflection of the opportunities and challenges in the contemporary business reality. They include the desire to know as well as appreciate the customers and their financial goals and consequently help them realize the needed financial success.  They additionally aspire to be an employer of choice where people are valued, teamwork is rewarded, and everyone is respected and empowered. They aspire to set the global standard for the management of all types of risk, as it will help serve customers better, develop their position in the marketplace, and moreover protect our long-term reputation (Wells fargo.com, n.d). Wells Fargo wants to create all their business partners better through their products, services, culture, operations, and philanthropy.

References

Partnoy, F., & Eisinger, J. (2013). What’s inside America’s banks?. The Atlantic, 2.

Wells fargo.com (n.d.) About Wells Fargo Who We Are the Vision and Values of Wells Fargo Our Goals accessed on April 16, 2017

Wells fargo.com (n.d.) Company Information and Profile of Wells Fargo accessed on via on April 16, 2017

Wells fargo.com (n.d.). The values and vision of wells Fargo accessed on April 16, 2017

Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in Write My Essay Today services. If you need a similar paper you can place your order from pay for research paper services.