Citizens Financial Group

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Citizens Financial Group Reviews in Boston, MA US

Updated Apr 29, 2014
All Employees Current Employees Only

2.7 44 reviews

2% Approve of the CEO

Citizens Financial Group CEO Bruce Van Saun

Bruce Van Saun

(4 ratings)

42% of employees recommend this company to a friend

Review Highlights

Pros
  • Work life balance is rarely an issue only if the branch's QTD sales numbers are met (in 25 reviews)

  • Good Benefits and a changing work environment that's friendly to employees to attract talent (in 25 reviews)


Cons
  • The company preaches work life balance and that's not what is going on (in 13 reviews)

  • They don't understand that there are sales goals and that it is a sales position (in 25 reviews)

More Highlights
44 Employee Reviews Back to all reviews
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Disapproves of CEO

     

    Great place to grow

    Risk Manager (Current Employee) Boston, MA (US)

    ProsI have experienced stupendous professional growth in this firm. My managers have always been most supportive of my advancement, and promotions have been forthcoming appropriately.

    ConsWith the upcoming IPO, things have been a bit hectic and rudderless. It seems like there is a goal to get all of the terrible ideas implemented before the IPO

    Advice to Senior ManagementIt would be nice if we didn't change everything just for the sake of changing everything. It's frustrating that some of the changes have been implemented without much thought or input.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Good place to start, but have to move on to move up.

    Personal Banker (Former Employee) Rochester, NH (US)

    ProsGood introduction to banking industry.
    Benefits/Salary are ok for not requiring much experience.
    Some opportunity to grow if you put in your own effort to really learn the product line and banking areas.

    ConsLimited potential for promotion in the retail banking sector.
    Pressure to sell banking products can sometimes lead to bad customer service.
    Working with unqualified/uninformed Bankers, sale people only.

    Yes, I would recommend this company to a friend

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    • No Opinion of CEO

     

    It is all in who you know

    Anonymous Employee (Current Employee) Boston, MA (US)

    ProsDecent benefits, career opportunities for starting your career, coworkers are wonderful people

    Constoo tied to Royal Bank of Scotland - IPO coming, everything is about the bottom line.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Hearts in the right place

    Anonymous Employee (Current Employee) Boston, MA (US)

    ProsGreat, smart people who are always trying to do their best for each other and customers. The company does a very good job of hiring the right people but sometimes gets lost in how to measure success and communicate a cohesive strategy that everyone understands and will follow.

    ConsMany, many shifting and confusing priorities. It's hard to deliver against a plan when you know it's going to change. Even senior management seems to be "stuck" when determining how to properly prioritize...the "deliver everything" attitude is hard to follow and somewhat unrealistic.

    Advice to Senior ManagementSimplify goals and then measure against them. Don't just roll-out new priorities before you have told us how we have done against the old ones. Also, when you decide something is not working just tell your colleagues. Great leaders deliver both good news and bad new equally.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Great place to challenge yourself

    Several (Current Employee) Dedham, MA (US)

    ProsGreat place to innovate. Organization looked to marketing to drive the organization forward. Ideas encouraged at all levels. I had flexibility with my schedule so I could balance my childrens' schedules.

    ConsWas starting to get very corporate and political.

    Yes, I would recommend this company to a friend

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    • Disapproves of CEO

     

    Overall a quality organization, but too bureaucratic

    Assistant Vice President (Current Employee) Boston, MA (US)

    ProsGood people, lots of education and training opportunities, enlightened view of work/life balance for a big company

    ConsOutdated technology tools, overly complex organization that makes it difficult to get answers/ find information

    Advice to Senior ManagementInvest in current hardware/software tools, streamline decision making processes

    Yes, I would recommend this company to a friend

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    • Disapproves of CEO

     

    lack of customer service and colleague focus and aggressive sales culture not sustainable for long term growth.

    Personal Banker (Current Employee) Boston, MA (US)

    ProsIf you get the right branch, your Branch Manager and colleagues can be awesome to work with. Branch Managers are expected to micromanage and report how they do so and the results. There is a unity from this that shows that everyone is working together to wrap our heads around what it is that the bank expects of everyone. If you know how to sell and comply with the bank's sales model, the incentive plan is great as long you over index and manage your sales to maintain a high percentage to goal. Work life balance is rarely an issue only if the branch's QTD sales numbers are met. Vacation time is great and the ability to utilize it is excellent and without question unless there are the occasional black out dates. Typical bank hours for traditional branches unless you work for an in-store branch then you're opened 7 days per week including holidays. Training is constant and provides valuable skill sets that help you push yourself in your current position. Citizens Bank is progressing into a more modern style of banking through new teller systems, ATMs, and debit cards however is still behind with online banking innovations and personal banker systems. This is a good stepping stone that will help you realize the direction you want to take your career.

    ConsIf you are placed in the wrong branch, your life will be miserable because there are Branch Managers who have minimal experience in management and are very poor at coaching and supporting their team. Lots of opportunities available but there is a defined glass ceiling when you try to advance or completely satisfy the customer. Branch Managers who do not support their team to the best of their ability have the pattern of making your career objections a dream and know it is very easy to cut you off at the knees if you apply for an internal position. Citizens Bank is minimally focused on building genuine relationships when compared to how focused they are with sales. There is a hint of 'not being good enough' in through out branches and it is discouraging to those who remember banking as being centered around maintaining customer relationships. There's incentive for new customers to join the bank but very little for existing customers to keep doing business with us unless they regularly bring new deposits to the bank. Heavy utilization of the phone is required and enters the realm of telemarketing. Many question the bank's understanding of lead generation being that there are regular customers who appear on multiple marketing lists and very few unknown customers provided to branch's for sales opportunities. There needs to be more done to ensure customers are not badgered for sales over the phone and in person. Senior Management seems to have lost touch with reality and seems to have a lack of understanding when they expect branches to continuously generate revenue but then mandates a sales process that takes the momentum out of achieving a sale.

    Advice to Senior ManagementIt's cheaper for the bank and more sustainable to maintain, strengthen, and to give incentives to existing customers to keep banking with Citizens Bank than it is to continuously be prospecting and selling to new customers. Realize that customers can say no if they do not want a product, it does no good to beat a dead horse and continue to push the sale. Remember, Citizens Bank is a financial institution who has an obligation to its customer to maintain their discretion and privacy. Restrain from becoming a telemarketing and/or sales company. Actively listen to colleagues and show your appreciation for them. The turnover is unacceptable and directly impacts a customer's loyalty to Citizens Bank when they have to familiarize them self with a new face. Be a big bank with a small bank's mentality.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    no good quant manager

    Senior Quantitative Analyst III (Current Employee) Boston, MA (US)

    Proslazy life balance. may good work as a start up job 1~2 years and then jump to other companies.

    ConsNo career opportunity. Ph.D. is useless for the company, or waste your time if you were not an old-fashioned out of date one.

    Advice to Senior Managementenhance your quant knowledge before you hire a "quant" manger to manage high quant team!

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Alice in Wonderland meets Wolf of Wall Street

    Marketing Manager (Former Employee) Dedham, MA (US)

    ProsSmart people. High energy. Ability to work remotely. Plenty of parking. Great location, near plenty of stores.

    ConsThe frantic pace is unbearable. Work 60-hour weeks plus some time on weekends. There is so much red tape they should patent it and sell it. They are a decade behind on technology for employees.

    Advice to Senior ManagementThe Red Sox hire great ball players as well as trainers, coaches, and back office personnel. They need to hire, not reduce, the number of back office people or else the infrastructure is going to collapse.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    2 people found this helpful  

    Think of Citizens as a career "layover" more than a destination. That's essentially what it's offering.

    "Banker" (Current Employee) Boston, MA (US)

    ProsIt will pay the bills and you do meet some nice people.
    You are trained in how they want you to do the job.
    Very low barriers to entry.
    "Banking hours".
    Bank holidays.
    Commission, albeit modest.
    Goal-oriented motivation.
    The Assistant Branch Manager level is talented and supportive.

    ConsBranch-based retail banking is an antiquated industry, groping around in the dark for some magic strategy to stay competitive going forward. Some banks have recognized the need to change and reacted accordingly. Not here. In a way, that's "quaint". But it's also "head in the sand", hoping that the world somehow got it wrong and we're not in a new technology-driven era.
    "Carrots and sticks" motivational philosophy is outdated.
    The skills and knowledge you learn are not portable to other industries:
    - You have sales goals to meet, yet you don't have the freedom to practice newer sales methodologies being used in other industries. You're either pestering customers who don't want to buy, or order-taking from those that do. You're also relying on friends and family to help meet sales goals. That's not selling in my book.
    - The technology is several decades behind what you need to learn and be using to stay ahead in today's job market.
    - Service is closest to any useful, transferable skill-set acquired here, but it's a far cry from the quality provided by other customer-facing retail industries.
    The role is demeaning on several levels: (i) senior management knows you're a dispensable resource to experiment with until they find "a better way" (ii) branch management have free rein to behave however they want with no consequences (iii) you know inside that you're now part of the "club" of dying stereotypes that most people avoid--the glad-handing used car salesman, the pushy retail sales clerk, the infomercial pitchman (iv) customers can look up most queries on their cell phones in a fraction of the time it takes to navigate through the archaic, layered platform--making you look stupid.

    Advice to Senior ManagementEmployees cannot advise you. We can merely ask you to consider feedback. I would urge you to question your thinking:
    - Is branch-based selling detrimental to long-term relationships and CLV?
    - Should branch staff even have sales goals?
    - Should branches focus purely on customer service?
    - Is there a better way to sell financial services?
    - Do branch managers make the best sales managers?
    - What should "branch transformation" really mean?

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