It seems as though it never fails that when I'm on vacation something always happens, it never fails!! This time I learn that the company that I've worked for (now 25 years) has been acquired by another. Sr. Management has been told they are indespensible, and will not be needed. Other members of the team, have been told they're safe til the end of the year, maybe the 1st quarter of 2004. Yes we will get our severance package (such as it is, but better than nothing). The Company acquiring us already has their structural team in place, including the position of Compliance Officer. So, where does this leave you when you've been told the company you work for is in an "acquiring" mode all these months, and not a "for sale" mode. Many lives have been disrupted because of this, and I'm sure I'll be on the unemployment list in the very near future.

I'm sure I'm not alone in drowning in my sorrows, but maybe hearing some of your experiences and how you get through this might give some comfort. The area we live in has a high unemployment rate, and I'm sure whatever my new employment might be does not look too positive in the banking field.

Sorry to hear the security blanket was ripped away. In some ways I can relate and I sympathize. Good luck.

I totally understand what you're going through. I'll never forget the date I was called in to see the Chief Credit Officer and told that we were being sold. It was devasting to find that the company that you gave so much blood, sweat and tears to over the years was going to disappear!

You'll probably run the gamut of emotions (anger, disbelief, fear, etc.) Try not to express these too much in the workplace (a lesson I've never learned). Sometimes there is room for you in the company and how you behave during this process can determine if you will be asked to stay.

If you don't get a job with them, it's time to pick up the phone and start contacting everyone you know so that they'll keep their ears open for you. Also, can your skills be translated into another field - maybe you'd like to make a career change?

Finally, is moving an option for you and your family? I know that some banks in my state (for example) are having a terrible time finding qualified compliance people. Granted, for most people, moving is the very last option that want to choose.

Please know that, unfortunately, a lot of us have been through this at least once in our careers. It's very, very tough in the beginning but eventually it will get better. Best of luck to you.

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Finally, is moving an option for you and your family? I know that some banks in my state (for example) are having a terrible time finding qualified compliance people.

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I'm one of those that Cowboy Fan is referring to. I've had a compliance position for a Sr. Compliance Analyst based in Greenville, SC available for several months and have had no luck in filling it. If anyone has an interest, bop on over to the job posting on BOL Career Connect to learn more details about the position and feel free to contact me - this position will be a direct report to me.

Cheryle, I empathize with your position, as I'm sure Cowboy Fan also does. We both worked for the same bank in SC from for several years in the late 90's. That bank was then acquired by Carolina First Bank in 2000. I was on the chopping block at first, but the Compliance Officer for Carolina First resigned to take another job about a month after the merger was announced, so I wound up with an opportunity to stay.

Yikes, best of luck, I am sure you will be fine!

Well that is not good news. One place that I will look for work if I happen to lose my job is in the independent auditing field. The bank where I work uses three different companies to audit several areas of compliance and certifications. You might consider it.

Good luck!

Cheryle, I feel for you! I've been in the same position and it was devistating.

I worked for BofA for 12 years before they convinced me what a great career move it would be to do a two year stint in Alaska as a commercial lender. They doubled my pay and paid $30M for the move and though it was WORLDS apart from anything I'd ever experienced, I was enjoying the change, with the knowledge that I'd be returning "home" in two years after the great experience.

Six months after I got here Nations bank purchased BofA and old Hugh (we love him up here) started advertising that he had banks spread across the country....from Washington to Florida, California to New York...Our ears perked but oddly Alaska was not mentioned (except for the time he said he wouldn't want to do business in a state where there were more moose than people).

Layoffs were rampent and I had to threaten to take BofA to court since they knew they were merging when they moved me and didn't mention it, even when asked. After six months of watching employees fade away, and being given the book "who stole your cheese" (typical bank way of saying they're going to take your cheese and leave a mouse trap) I was offered a horrible position in Wa again. At the last second, I decided to pass and take my chances on Alaska.

Went to a bank that sent out the book "who stole your cheese" in week 3 of my employment! For goodness sake!

I finally landed where I am now after two years of struggles. I'm happier than I've ever been in my career and I'll be hoping you find the same thing for yourself...but quicker than I did! Change sucks, but it eventually forced me out of my comfortable position and made me take a hard look at my career and my life. I learned a great deal from the transition.

The folks I worked with (there were about a dozen vp and above positions in AK when the merger took place) all have experienced the same thing. Some were easier and some harder, though I was the only one who'd moved to the state recently so I think I had a little more personal transition than many, but all are now doing very well and are happy. We get together once a month and lift a glass in honor of the next time Hugh comes to Ak to go fishing...we have plans...ummm nevermind that LOL (we don't!) It's good for me to see that all ended up well, and I hope it helps you somewhat. It's a transition, but if you're good, you'll find a great opportunity out there for yourself.

We'll be here to listen

And...if they send you that stupid book...BURN IT AT THE OFFICE!!!!

Cheryle,
I know just what you're going through. I went through it about 5 years ago, and I'm going through it again right now.

All I can tell you is that regardless of what happens, you will survive. There is life after a merger, you just have to hang in there and get through it.

In my experience, compliance is a pretty specialized field and someone with solid experience can really be in demand. You may be pleasantly surprised. I sure hope so.

Cheryle, where are you located?

Cheryle, let me add my voice to the chorus of "there is life after a merger." I have been merged out of a job twice and RIF'd once in fifteen years of banking. If you have good compliance management skills, there is a job out there for you. More and more consulting firms are hiring compliance consultants, and there are lots of sources on the web for locating new gigs.

I recently ended a search. Send me an e-mail or a PM and I'll share some potential sources and tips.

Cheryl,

I can relate. I was with a bank for 22 years. We had been through several acquisitions and then had one of those merger of equals and I was on the unequal side of the fence. It was a emotional experience that changes your outlook quite a bit.

Where are you located? Perhaps someone can refer you to a headhunter if we know where you are.

Well it's public information so I guess it doesn't matter if I name the bank. Humbolt Bank buys Feather River State Bank in Yuba City, CA.

Thank you all for your support and words of wisdom. In this area to find a good job or one commenserate to what I've been doing involves relocation or a long commute. It's the roller-coaster ride of emotions and the unknown time frame for being on the receiving end of that pink slip. I will however remain as upbeat and positive as I can for I am a professional and will do what ever is needed to make this a smooth transition.