President-elect Donald Trump said he's nominating financial services CEO Frank Bisignano to serve as commissioner of the Social Security Administration. ...
Bisignano currently leads the financial services and payments giant Fiserv, one of the largest financial software companies in the country.
He’s previously held executive leadership positions at major banks including JP Morgan Chase and Citigroup. ...
From Wikipedia:
... Under Bisignano's tenure, hundreds of First Data and FiServ locations have closed, resulting in the termination of thousands of employees. Employees who previously had remote positions due to the COVID-19 pandemic or other legacy reasons have reportedly been particularly targeted. ...
24 comments:
Maybe he can fix SSA's disastrous IT/software while on the path to privatization. If they are smart it will be a partial privatization of the trust fund rather than sending the whole hog to Wall Street.
https://www.jsonline.com/story/news/local/2024/12/05/trump-taps-fiserv-ceo-bisignano-to-lead-social-security-administration/76792991007/
Ssa has no $$ to fix the IT. The $ is being allocated for upkeep. The trust fund cannot be privatized and invested in the a stock market without congressional approval. This would be a replay of 2005.
Yikes, guy is literally the worst nightmare for the telework warriors at SSA. Check out the comments from employees at Fiserv. He set up a big brother system that tracks everything, ended telework, and fired/drove out all the senior staff that had institutional knowledge.
https://www.thelayoff.com/fiserv
Good. SSA needs streamlining. Get rid of the useless SES and layers of non-working managers.
I suppose there were worse picks, including those who were there before and wanted to make changes in the grid rules to reduce disability. What will matter is whether he is actually interested in getting the operations portion of Social Security actually doing their job and that may depend on getting resources for enhanced IT and staff to workable levels in an environment where cutting both is the likely outcome.
Lol. Yeah, I guess it’s fine if he destroys the agency the way he did his own firm, as long as he sticks it to those uppity management types.
Good grief. We’re all f**ked, and at least half of us seem to be thrilled about that.
https://www.paymentsdive.com/news/cuts-continue-at-fiserv-payments-staff-employees-layoffs/633775/
Hey, we have an incoming president that has declared bankruptcy how many times, but thinks he is a stable genius to run the finances of the country. Now a CEO that is cutting and firing his way through a company to prosperity is proposed to head SSA. Why did you expect any better?
This falls in the good luck department.
“A new commissioner will arrive at SSA after historic improvements made under former Commissioner O’Malley in cooperation with AFGE, including a 6.2% improvement in productivity, as well as increased employee morale and engagement,” the group wrote. “AFGE stands ready to work in good faith with a new commissioner who will reciprocate and who will honor their legal and contractual obligations with the union and the employees . . . Retaining talent and improving workforce morale should be goals we can work towards together.”
11:18am
What!!? You mean SSA doesn’t need a GS13 junior assistant to the assistant deputy detector of interior office decorations who subsequently reports to the director of office suitability and design!? No way!!
Critics argue the nomination could change the fabric of the Social Security Administration. Bisignano doesn’t have a background in Social Security or government work, noted Nancy Altman, president of the advocacy group Social Security Works.
“That is very concerning. This is a very complicated program — a really important program. It is not a patronage job,” she said. “To put someone in there with zero background is really irresponsible.”
Before Trump, the Social Security Administration was always run by someone with a government background, Altman said. “And it has never missed a paycheck,” she said. “Benefits were always paid in full and on time.”
Expect to see a lot of retirements next year.
Frank should immediately close as many offices as possible and fire low performers. He will revamp Social Security to historic highs.
And O'Malley had a background in Social Security? Nah. How is a background in "government" somehow important? Is that to say only those with a background in a plodding bureaucracy can handle the job? Maybe that's the problem. Maybe a new way of doing things is a better solution.
I'm interested to see what happens when a CEO of a private Corp tries to "do more with less" when SSA staffing is at a 50-year low, budgets haven't kept up, antique computer systems and not to mention a powerful Union. He might have been top dog before but welcome to the bureaucracy and Fed Gov regulations.
A slash and burn private equity strategy would not translate well to government. There are no "profits" or shareholder value to maximize, and this appears to be his main area of competency. Which has made him into a hated figure at FiServ. Sure the stock price has risen after massive layoffs, but current employees claim the product/service has suffered and morale is at an all time low. This is the worst type of person I can imagine for SSA commissioner.
Never trust a man with no eyebrows. Unless he's doing drag...
Yeah, maybe being dumb as a doorpost with a history turning everything he touches into excrement will make him an outstanding government leader. I totally see the “logic” in what you’re saying.
Look: I get that you’re frustrated. We all are. But burning America to the ground and pissing off a bunch of “libs” and “egghead elite bureaucrats” isn’t actually going to help in any way.
Epic!
Best thing I've read all week!
I can't imagine there is more to say beyond that last comment.
Maybe he can get rid of “leadership” in OHO that refuses to support office managers in disciplining or firing poor performers. Office managers spend untold hours following steps to hold these people accountable to no avail - only to be thwarted by Regional Offices or above. The current practices are unfair to other hardworking employees and lower level managers. Too bad the excellent employees have no meaningful input about the poor performer they have to help clean up after … change needs to happen from the top down!
You do realize he’s just doing it for the tax break, right? Well see how often he actually logs on.
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