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9 people found this helpful

nightmare scenario for employees

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

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

Pros

compensation can be competitive for a federal agency, and benefits are good

Cons

There are two significant problems with this agency - (1) they hired in a rush and hired the wrong people and (2) there are no policies or procedures in place to help or protect employees. It is widely known that the CFBP was in a rush to hire when they opened their doors in 2011, and sadly, they hired senior managers who were unqualified, inexperienced and with little willingness or ability to lead and mentor employees. Most were from failed institutions like Fannie Mae and Freddie Mac. The senior managers then promoted their friends and cronies, further complicating the problem. There was and still is very little review or oversight. The result has been nothing short of a disaster. The complete lack of managerial experience has driven employees out the door in droves. Although the agency is a little over 2 years old, employees have been leaving after only one year or sometimes even less.

The second big problem is the lack of policies and procedures. Employees are at the managers' whim and have to no recourse. The Human Capital/Labor Relations department is either unwilling or unable to help employees. Managers basically do whatever they want, whenever they want. Employee morale is extremely low and hundreds of grievances have been filed. There have also been many, many complaints about discrimination based on race, age, gender, etc, and most people think the problem is snowballing.

I have been in the federal sector for nearly a decade and this is the most difficult environment I have worked in.

Doesn't Recommend
Negative Outlook
Disapproves of CEO
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  1. 12 people found this helpful

    Minorities unfortunately are not treated well. Very disappointing.

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

    I worked at CFPB full-time (more than a year)

    Pros

    Admirable mission and compensation structure is extremely competitive.

    Cons

    The CFPB, like most financial regulatory agencies, is grossly underrepresented in the number of racial/ethnic minorities it hires, retains and promotes to senior management positions. This results in a lack of diversity in decision-making, discriminatory treatment in work allocation and an extremely hostile work environment. It is not a secret within the agency that minorities have not fared well at the Bureau, however, its higher level management officials continue to ignore problems that have been readily identified, which is ironic given that the Bureau is so aggressively pursuing financial institutions for their violations of anti-discrimination laws.

    Advice to ManagementAdvice

    Diversity is not a "body count." Rather than count racial bodies, the agency should recalibrate its organizational structure to ensure diversity in decision making, work allocation, and employment opportunities within the agency.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 8 people found this helpful

    Absolutely horrifying experience. Managers behave like dictators - this place is throwback to the East German Stasi

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

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

    Pros

    The mission is admirable but what federal agency doesn't have a good mission?

    Cons

    One word: management. They do not listen to employees, treat them like absolute trash and many have problems with employees of different racial and ethnic backgrounds. This place needs an overhaul.

    Advice to ManagementAdvice

    Please treat your employees better.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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