CFPB Reviews

Updated July 14, 2015
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42 Employee Reviews

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  1. Helpful (4)

    Great mission. Vacuum of leadership.

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

    I have been working at CFPB full-time

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Mission. Government job security. Easy work.

    Cons

    Favoritism. Lack of quality leadership. Bleeding experienced staff.

    Advice to Management

    Hire leaders with leadership experience. Do not promote your problems.


  2. Student Intern Found Work Lacking

    • Culture & Values
    Former Employee - Student Intern in Washington, DC
    Former Employee - Student Intern in Washington, DC

    I worked at CFPB

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Coworkers were friendly, never felt excluded from events etc. CFPB probably does a better job than other govt agencies in creating a stimulating environment but that isn't saying much

    Cons

    Student interns are not paid and must sign a form guaranteeing this. As is likely the case with most government agencies, there is not always exciting work or projects to be doing. Most of the work I did was mundane. That's to be expected as an intern but it would have been nice to at least have picked up some useful skills (excel, financial analyses, etc.)

    Advice to Management

    Find engaging work for interns or you won't attract the top students


  3. Research Markets and Regulation

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

    I have been working at CFPB

    Recommends
    Negative Outlook
    Recommends
    Negative Outlook

    Pros

    Really, really smart people within the policy shops. Good mission. Least bureaucracy in government.

    Cons

    Strong personalities outside of the policy shops make life difficult. Little opportunity for internal advancement. Some senior positions seem like they were randomly given.


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  5. Helpful (1)

    Great mission, growing pains

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - CFPB Enforcement Attorney in Washington, DC
    Current Employee - CFPB Enforcement Attorney in Washington, DC

    I have been working at CFPB full-time (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great mission and ability to be creative.

    Cons

    Micro-management, many decisions made based on political concerns and not always on what is best for consumers, slow internal processes.


  6. Good work experience--work involved creativity and had impact

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

    I have been working at CFPB full-time

    Pros

    Pros you'd expect from government position: public-service work, good work-life balance, good benefits Additionally: good investment in employee training, good compensation (it's not private sector but it's not bad) Lastly: Certainly the Bureau is still mission-focused, with talented people excited about the project of protecting American consumers

    Cons

    This isn't everywhere (and certainly not at higher levels of management), but there does seem to be a feeling that working in a government agency is a step down from the top private companies, which can be a drag on motivation (I didn't share that opinion coming into the Bureau)


  7. Great Place to make a difference and serve your country

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Chicago, IL
    Current Employee - Manager in Chicago, IL

    I have been working at CFPB full-time (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great mission protecting American consumers. Co-workers are intelligent and friendly especially in the Midwest region. Management encourages employee personal growth. Pay is competitive

    Cons

    There is more work than employees at this time.

    Advice to Management

    Headquarters should delegate more decision making to the Regions. T


  8. Helpful (1)

    Agency does not treat employees well

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

    I have been working at CFPB full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The mission is admirable and the CFPB markets itself extremely well

    Cons

    The CFPB is promising in theory but in reality, employees are not provided equal opportunities to succeed and excel. There is favoritism, cronyism and a very high turnover rate for a federal agency. The HR infrastructure is completely lacking and employees are unable to turn to anyone when they face problems. When employees complain, they experience retaliation by managers (and Human Capital), and are denied promotions and salary increases. Promotions are based on who you sleep with and who your friends are. Differences in treatment between white and minority employees is noticeable. Many managers and employees lack cultural and racial sensitivity as well and this can make the environment very difficult. Although management has made some superficial changes, such as changing the performance review system, the root causes of the CFPB's problems have not been addressed. The attrition rate has been increasing lately and management's response is just to say that attrition is natural. There needs to be more emphasis on retention.

    Advice to Management

    Treat your employees fairly and respectfully and they will stay.


  9. Helpful (2)

    Great Experience

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

    I have been working at CFPB full-time (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The agency allows for you to get as involved as you would like to in your department. If you are interested in a particular group outside of your own, management is willing to create opportunities where you can work in that area without transferring fully.

    Cons

    Management politics, inconsistent messages from management and a lot of incompetent managers.

    Advice to Management

    Continue to create opportunities for staff to further their careers within the agency. Limit office politics by working to create a professional and civil work environment.


  10. Helpful (6)

    Excellent mission, dedicated and generally smart employees, good benefits

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

    I have been working at CFPB full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great development opportunities for motivated people who are not afraid of uncertainty and can be patient with the government process (hiring takes months, decisionmaking is slow, risk-averse system, etc.). Benefits are very good: pension, 401(k) with up to 8% match, low cost health insurance, free dental and vision, limited free life insurance, short-term and long-term disability, transit, vacation (start at 13 days/year, going to 20 days/year after 2 years), sick leave (13 days/year). Many positions are union-covered and very stable. Excellent training and advancement opportunities for some employees. Some telework and flexible schedule opportunities.

    Cons

    You can generally make more in the private sector. Very slow decision-making process due to nature of government and myriad bureaucratic rules and regulations. For examiners, travel away from home can be very heavy (75% or more at times). In some areas, advancement may be slow and out of your control. Management quality is uneven, some managers are excellent, others not.

    Advice to Management

    Continue implementing concrete steps to address issues raised by front-line employees. Seem to be going in the right direction.


  11. Helpful (9)

    HR and Examination Policy are weak and require improvement

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

    I have been working at CFPB full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Salary: Above par salary for federal government. Entry level Examiners at the CN30/40 Level may expect to receive a starting salary from 58k-90k depending on experience. General career ladder for non-commisioned examiners go from CN30/40/51. Top pay is dependent on your locality. The most you can make at CN/51 with locality is 85K. Personal Growth: CFPB is one of those marketable Agencies to work for. Expect to get numerous job offers from entities and private consulting firms. You will have the ability to trailblazer and shape the future of financial consumer protection laws. In addition the CFPB is notorious for hiring Tier 1 Ivy League grad/under-grad & JD students. As a result, great ideas are generally bounced around and shared between employees. However lack of experience in the real world gets those ideas deleted. Alternative Work Schedule: Expect to be off every other Friday. Work-life Balance: Travel only during business hours and travel and arrive home before the end of your work day. Retirement: Since the CFPB is subsidized by the Federal Reserves. Your TSP; you contribute 7% Agency will Match 8% Health: is FEBH and Metlife (free of charge)

    Cons

    Office Culture: All levels of Management, Executive, Senior, and Field Mangers are generally hired and recruited through networking and relationships. It is not a fluke where as 80% of Management has worked with each other in past experiences. As a result favoritism, EEO and discrimination is true to nature and has been sited and noted by Congress. Corrective actions are being taken however, only time will tell. Policy on Career Ladder and Promotion: Weak and none. The ability to climb the career ladder is flawed by expectations which has not been vetted and approved by HR and the Union. As a result Do not expect to make your career ladder promotion with in 12 month of your employment. The true range is 15-19 month. This will negatively impact your ability to make career ladder timely as your subsequent career ladders will also be affected by the time lapse. Annual Appraisals and Feedback: Examiners work in team environment which are lead by Examiner in charge (EIC). The EIC role is a team leader and Non-Managerial. However post examination feedback and appraisals are written by EIC's reviewed and relied upon by mangers to assess and develop your annual appraisal. This is a HR flaw as non-managers should not be drive your ability to be promoted. EICs do not have HR training and EEO expertise. There are inherent risk such as EIC favoritism to fabricate the truth or maliciously created negative opinions about a team member to mitigate promotional competition. In addition EIC may also offer a friend a specific role to assist the friend in being promote or provide an easier assignment. Leadership is weak as many Field Managers have no managerial experience and are generally hired by networking. As a result the CFPB is faced with extremely high turnover. Most Field Managers do not have Consumer Financial Protection Knowledge and Experience. Many are Dodd Frank Transferees from other regulatory Bodies many were perhaps even failing (NCUA). "Look it up in the regulations" is a common Field Manger remark and comment. It is normal and stylish to see CFPB employees leave and transfer to the FDIC, OCC, FRB, NCUA, and SEC. Although Management is proud to offer 10 positions they fail to realize the loss of 30 employees. Favoritism in assignments: Many assignments are driven by who managers enjoy working with. It is common to see examinations in Puerto Rico and Florida whereas team participants all know each other fairly well. Or Teams in which are lead by Managers who recruit based of friendly relationships and not merit.

    Advice to Management

    No free advise will be extended or awarded, please read above.



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