Ambac

www.ambac.com

Ambac Reviews

11 Reviews
2.5
11 Reviews
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Recommend to a friend
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Diana Adams
2 Ratings

Employee Reviews

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  1.  

    Company lost its AAA rating during the financial crisis and has no product.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance in New York, NY
    Former Employee - Insurance in New York, NY

    I worked at Ambac full-time (more than 3 years)

    Pros

    Some of the people there are really smart and dedicated. One gets to move around from one business unit and department to the next in a short time thus gaining broad experience.

    Cons

    There is no connection between daily work and a strategic goal. It's like working in a mechanic's shop: fix what breaks and move on to the next one.

    Recommends
    Negative Outlook
    Approves of CEO
  2.  

    A shrinking business with poorly motivated employees.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY

    I have been working at Ambac full-time

    Pros

    Slow pace, low stress, great hours, very complicated structure makes for interesting work.

    Cons

    No growth opportunity, poor pay, no recognition, poor social culture, very niche roles that are not transferable to other companies

    Doesn't Recommend
    Negative Outlook
  3.  

    Vice President

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY

    I worked at Ambac full-time (more than 5 years)

    Pros

    they have a flexible work schedule

    Cons

    no real chance for new business

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    run if you can

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst in New York, NY
    Current Employee - Financial Analyst in New York, NY

    I have been working at Ambac full-time (more than 3 years)

    Pros

    its alright place for a bankrupt company that doesn't have money to pay off the electric bill.
    its a small quit place, which is good for someone that just finished college...but once you get enough experience run like your life is in danger.

    Cons

    terrible pay, high turn over, no corp. culture, no opportunity to move up, company filled for ch-11 and now its a dead place waiting to be buried. if you have a chance to go to different place do so asap.

    Advice to ManagementAdvice

    there's not much that the management can do at this point, the company has no budget to take care of its employees, so everyone are doing double work and don't get the right compensation.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Ok in all the circumstances

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Ambac full-time

    Pros

    Good people to work with

    Cons

    Company in a terrible situation

    Advice to ManagementAdvice

    make the best of it

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    Working to stay employed...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

    I have been working at Ambac full-time (more than 3 years)

    Pros

    Small company that allows you to do different things. It pays relatively well.

    Cons

    Backstabbing. Nobody works together and everyone is working for themselves.

    Advice to ManagementAdvice

    Communicate with employees about the status of the company and give some assurances about general job stability.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Working at Ambac was a great experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Frist Vice President in New York, NY
    Former Employee - Frist Vice President in New York, NY

    I worked at Ambac

    Pros

    At Ambac you worked with top quality people in a friendly environoment.

    Cons

    Unfortunately, the entire industry was destroyed during the latest financial crisis.

    Advice to ManagementAdvice

    Expect the unexpected.

    Recommends
  9.  

    None

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Portfolio Risk Management in New York, NY
    Current Employee - Portfolio Risk Management in New York, NY

    I have been working at Ambac

    Pros

    Good environment and friendly colleagues.

    Cons

    Winding down, diminishing career growth potential

    Advice to ManagementAdvice

    None

    No opinion of CEO
  10.  

    Quiet, Good Place to Learn Basics of Finance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Information Technology Intern in New York, NY
    Current Employee - Information Technology Intern in New York, NY

    I have been working at Ambac

    Pros

    The main floor is very elegant and modern, definitely a visually pleasing working environment. People are polite and friendly, and even in this era of uncertainty there seems to be a reinforcing resilient resolve amongst the employees. The working environment is very quiet, definitely good for someone who prefers a silent day at work.

    Cons

    There seems to be a sense of alienation amongst employees, it is not easy to make conversation and develop relationships beyond a superficial level. This may be an effect of the fragmented cubicle seating arrangement that does not allow for much interaction. The bureaucracy can be hassling at times because there are so many levels and roadblocks and checkpoints for communicating information and performing tasks, can lead to miscommunication which can hinder the day to day activities.

    Advice to ManagementAdvice

    It is important to interact with the members of your department not only to develop a relationship but also to field concerns. I encountered an environment where people who worked there were hesitant to speak up for themselves because there seems to be a non-receptive air to criticism in the company.

    No opinion of CEO
  11. 1 person found this helpful  

    Ambac is a good place to work, but could potentially be a great place.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

    I have been working at Ambac

    Pros

    Good benefits package. We're currently in a period of transition which I am hoping will be good in the long run. Mike Callen has been a very positive force and is steering us in the right direction.

    Cons

    The former CEO created an environment where people were micromanaged and not recognized for their accomplishments. It was very conservative and negative. A new CEO took over earlier this year and slowly things are changing for the better despite tough market conditions. New policies, including business casual attire and flexible work arrangements have been implemented which have created a more positive environment and have helped with the work/life balance issue. Technology was severely lacking, however steps are in place to upgrade and integrate our systems. Many people have been with the organization for a very long time and therefore are very set in their ways and are not open to change. Many of the senior managers do not communicate well to their direct reports.

    Advice to ManagementAdvice

    Put faith in the fact that you've hired good people who are experts in their respective fields and let them do their jobs without micromanaging. Keep the lines of communications open so employees feel like they're well informed.

    Doesn't Recommend
    Approves of CEO

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