Citizens Financial Group

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Citizens Financial Group Reviews in Boston, MA

358 Reviews

2.5
358 Reviews
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Citizens Financial Group CEO Bruce Van Saun
Bruce Van Saun
40 Ratings

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

11 Employee Reviews Back to all reviews

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  1.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker  in  Boston, MA
    Current Employee - Personal Banker in Boston, MA

    Pros

    If 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.

    Cons

    If 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 ManagementAdvice

    It'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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    no good quant manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Quantitative Analyst III  in  Boston, MA
    Current Employee - Senior Quantitative Analyst III in Boston, MA

    Pros

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

    Cons

    No 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 ManagementAdvice

    enhance your quant knowledge before you hire a "quant" manger to manage high quant team!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Alice in Wonderland meets Wolf of Wall Street

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Marketing Manager  in  Dedham, MA
    Former Employee - Marketing Manager in Dedham, MA

    Pros

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

    Cons

    The 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 ManagementAdvice

    The 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.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 2 people found this helpful  

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

    Current Employee - "Banker"  in  Boston, MA
    Current Employee - "Banker" in Boston, MA

    Pros

    It 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.

    Cons

    Branch-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 ManagementAdvice

    Employees 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?

  6.  

    Acquisition

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker  in  Boston, MA
    Former Employee - Personal Banker in Boston, MA

    Pros

    Work life balance, pay, peers

    Cons

    Antiquated systems, people, corporate mentality

    Advice to ManagementAdvice

    You drive sales or customer satisfaction. Pick one. You force accounts on us to force on customers and wonder why it negatively impacts the satisfaction scores.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Work, Work, Work. Micromanagement, too much runaround to process work. Not much appreciation to staff.

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Clerk  in  Medford, MA
    Former Employee - Clerk in Medford, MA

    Pros

    Good location for public transportation commute.

    Cons

    Too many micromanaging activities, old systems that lack quality to customer service. Lots of tension in departments. Not much opportunity for a contract to hire position.

    Advice to ManagementAdvice

    Appreciate your hard working employees and learn to discipline and coach the ones who do not work and are not team players.

  8.  

    Not a healthy environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Assistant Vice President  in  Boston, MA
    Former Employee - Assistant Vice President in Boston, MA

    Pros

    Bank holidays and generous vacation. Location (depending on where you live). Fairly flexible work hours.

    Cons

    Favoritism was rampant. The only way to get promoted is if you were a favorite of a senior manager. All promotions were not created equally - different criteria is used depending on who you are.

    Advice to ManagementAdvice

    Value employees contributions for what they are and not based on who they are made from.

    Doesn't Recommend
    No opinion of CEO
  9. 1 person found this helpful  

    Glorified Cashier

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Seasonal Teller  in  Tewksbury, MA
    Former Employee - Seasonal Teller in Tewksbury, MA

    Pros

    Air conditioned, sit down job, most of the time

    Cons

    Ridiculous sales tactics and pressure
    Management is useless.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Not a place to work if you are looking for growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Fraud Analyst  in  Medford, MA
    Current Employee - Fraud Analyst in Medford, MA

    Pros

    easy work load, friendly management

    Cons

    stagnant working environment, no feedback given on work performance

    Advice to ManagementAdvice

    Should look into offering incentives for performance

    No opinion of CEO
  11. 3 people found this helpful  

    VP-Level Incompetence

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Boston, MA
    Former Employee - Anonymous Employee in Boston, MA

    Pros

    Citizens is quite generous with their benefits and no one can begrudge them for lack of effort. Also, their Providence HQ has undergone a change in top-level leadership and I think good things are on the way -meaning changes in mid-level leadership (which is sorely lacking).

    Cons

    When I think of Citizens (corporate), I see bloated herds of clueless VPs running around without even the most basic understanding of 1), their products and customers; 2), any concept of what leadership is; 3), what it takes to be a leader, or 4), any basic experience leading at a lower level and learning the basic concepts of leadership (or even a basic understanding of how relationships are established and maintained).

    Advice to ManagementAdvice

    My advice is to thin out the VP corp, have the remainders spend time in the trenches so that they at least get a minimal level understanding of their product line and whether or not its viable in this day and age.

    Doesn't Recommend
    No opinion of CEO

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