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Helpful (2)

Purging Employees, but keeping the leaders that got them in trouble

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

I worked at Bank of America full-time (More than 8 years)

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

Pros

Market size Mostly good people, just in a caustic environment

Cons

Too much focus on internal measures, to justify the leader's job...vs measuring performance for the customer. HR thinks they're smarter than the business leaders....and granted too much power and influence. Poor Change Management practices, leaders implement new changes way too frequently...that way they don't have to be accountable for their previous change project producing promised results. Shell game

Advice to Management

Take a harder look at upper management to understand the root of your issues,

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  1. Helpful (1)

    The Bank of Opportunity

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

    I have been working at Bank of America full-time

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

    Pros

    This company cares about ther employees. You truly see if from upper management(ALWAYS), middle mangement(most of the times) and lower management(sometimes). Senior leaders for a division or line of business invite top producing employees(i have experienced it a few times) for their feedback quartely/semi-annually in a private meeting and hear what's working and what they could do better. That level of exposure and geniune care is rarely seen in ANY major bank. Most larger companies, like my previous BLUE banks don't do this at all!

    Cons

    Like all big companies, having too many systems or too many policies, can be difficult for employees to acqure, onboard and serve our clients. We need to simplify and streamline our lending process(consumer and small busines). It will make our jobs more enjoyable, we could deliver a much better experience to our clients, and finally we could achieve the lending goals/targets senior management wants to achieve. Finally, reward clients for holistic relationship(investments, consumer, busines) all into one global relationship pricing model, not three.

    Advice to Management

    Improvements in technologies/products in Global Consumer and Small Business Banking has been GREAT!! in the past year or so, it could be better on the fulfillment end. Lets focus on; lending processes on the back end, paperwork required to close a loan(Insane!!!),we need more fullfilment people wih incentive to close deals with the expectation to give counter offers on deals, NOT straight up declines. We need to make lending easy, simple and straighforward and really competative with every major financial institution (we should NEVER loose deals due to extensive process requirements, fulfillment delays or pricing on a existing client to a major competitor). I say this because our company is a GREAT company, however it could be THE most admired company to work for in the world. I believe that each and every day! :-)


  2. bank of america mortgage specialit 3

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Specialist III in Rancho Cordova, CA
    Current Employee - Mortgage Specialist III in Rancho Cordova, CA

    I have been working at Bank of America full-time (More than a year)

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

    Pros

    secure for now as need is rising

    Cons

    not much room for advancement within the department


There are newer employer reviews for Bank of America
There are newer employer reviews for Bank of America

See Most Recent

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