Euroclear Bank
2.8 of 5 20 reviews
www.euroclear.com Brussels, Belgium 1000 to 5000 Employees

Euroclear Bank Reviews in Brussels

Updated Nov 25, 2013

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2.5 11 reviews

                             

50% Approve of the CEO

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Tim Howell

(2 ratings)

38% of employees recommend this company to a friend
11 Employee Reviews Back to all reviews
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Generally positive but decision making can be very tortuous.

Consultant (Former Employee)
Brussels (Belgium)

I worked at Euroclear Bank as a contractor for more than a year

ProsSalaries and benefits are very competative. The large number of different nationalities make for a stimulating work environment. The work is interesting, challenging and varied.

ConsThere seems to be an endless number of people empowered to block any initiative. It can be a frustrating experience at times. There is a perception that the penalties for failure are much greater than the rewards for success.

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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Graveyard of talent and creativity

Associate Manager (Former Employee)
Brussels (Belgium)

I worked at Euroclear Bank full-time for more than a year

Pros- Money - They have lots of it, and quite a bit will come your way (salary, perks, bonuses)
- Location - very easy to get to (central Brussels)
- Always recruiting
- Got "best employer in Belgium" award in 2003
- Lots of IT training courses.
- Looks like buzz-word bingo on a CV

Cons- Of the 300+ graduates they take on a year, only something like 20% last 2 years
- Bonus structure leads to a rigid management style where everyone is looking after their own interests and not looking at the greater picture.
- Small teams, highly compartmentalised. Open and direct communication really upsets the applecart.

Advice to Senior ManagementPsychological profile your hires. Don't take on broad minded, creative people.

No, I would not recommend this company to a friend

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6 years of living hell and continuing

IT Security Management (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank full-time for more than 5 years

ProsCompany Bonus, Luncheon Vouchers & clean office.

ConsWhen i started i was promised that i could have a career that i wanted, the management didnt fulfil their promises. When i wanted to move to another department i was constantly blocked from moving, they tried everything they could to keep me within the department but in another team.

I remember when culturally it used to be a company for humans, like one of the posts mentioned and fully agree, they want a workforce of robots where you are not allowed to be intelligent. I get swamped with dull and robotic tasks, the company operates stringently and procedural.

There are employees whom dont have the same expertise of someone else and get a higher salary, appraisaly become unfair, dont be surprised if you encounter bully techniques by the management which i have experienced causing dperession & burnouts.

Im still employed and looking outside of the company for a career change not so easy.

Advice to Senior ManagementThe company needs to change its work practices, attitude and approach to its employees otherwise the turnover of employee sickness & departures will increase. employees should be given the resepct and merits that they deserve.

its sad to see how the company does not encourage career diversification, this needs to change, management are constantly in meetings meaning they dont have much time for you.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Former Euroclear employee

Client Service Specialist (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank full-time for more than 3 years

ProsIt used to be a good first job for young graduates without any particular background in finance. The training team and the HR department were well organised. Salary used to be ok for a first job and before the crisis you could do extra hours that were paid. Age average is 25-30. People from different backgrounds and nationality.

ConsThey are offshoring part of their services in Poland. No long term career perspectives. The management is overall bad and there is no real meritocracy. They are more and more demanding in terms of individual performances especially since they adopted the Lean method which caused several burn outs and long term absences. When it comes to reduce the number of employees they will use any method to get rid of you (unfair evaluation, harrassement, etc.).

No, I would not recommend this company to a friend

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Financial infrastructure - cooperative structure owned by financial institutions

Director (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank full-time for more than 8 years

ProsGood learning opportunity for starters - however, not to stay long

ConsUndergoing the LEAN waves dicated by external companies.

Advice to Senior Management..........................................................

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Subjectif analysis based on experiences

Analyst (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank full-time for more than a year

Prosbest school to learn and understand back office of finance

Consclient focus, business first and very professional

Yes, I would recommend this company to a friend

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The heart of finance is surprisingly human

Associate Manager (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank full-time for more than 5 years

ProsFocus on training and development
Solid, conservative business model
Fair compensation
International environment with bustling atmosphere
Helpful colleagues
Job rotation every 2-5 years is encouraged, so it never gets boring

ConsBureaucratic
Due to job rotation, hardly senior experts in teams
Expected atmosphere deterioration due to outsourcing to Poland

Advice to Senior ManagementMix teams 50%-50% with senior experts and dynamic newcomers
Avoid buying expensive, non-compatible software modules from different vendors
Empower employees by granting access to all reports on Poland. They are not that dumb and you are not that smart.

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Interesting to start your career here.

Anonymous Employee (Former Employee)
Brussels (Belgium)

I worked at Euroclear Bank

ProsI must admit what I really appreciated working at Euroclear Bank were the nice colleagues; all relatively young making it very dynamic.

ConsHigh in and out flow of people in the bank; very difficult to retain the good people and thus gave sometimes stability issues.

Advice to Senior ManagementLook for opportunities to retain your best people and keep those people motivated. Also provide more opportunities to promote those people. Refresh of the talent pool.

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I've never worked harder and never felt more satisfied in what I've been able to contribute.

Director (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank

ProsI've found that if you take initiative to show what value you can add, it will be appreciated and recognised. The salary/bonus package is above market standard and most employees know it, so they don't want to leave once you get to a middle management level. The responsibilities in your job are high, so you need to be prepared to take them on. I'm the kind of person that likes change and challenge, so I'm doing very well in this environment.

ConsThe hours can be long and administrative tasks are getting worse as the company gets larger in size.

Advice to Senior ManagementSay thank you more than you do today. Also, practice what you preach - role modeling is important. For example, get rid of your closed offices and work like the rest of us.

Yes, I would recommend this company to a friend

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Changing

Anonymous Employee (Current Employee)
Brussels (Belgium)

I have been working at Euroclear Bank

ProsInternational, market leader, strong core business, good benefits, central location, internal mobility opportunities

ConsTrying to refocus after financial crisis, some rebuilding work to do, but management willingness to make it happen. Will be a better place to work next year than this year.

Advice to Senior ManagementKeep up the pace of change, but be sure to take people with you. Focus much more on strategic goals and give people something to really attack. Be insirational.

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Glassdoor is your free inside look at Euroclear Bank reviews and ratings in Brussels — including employee satisfaction and approval rating for Euroclear Bank CEO Tim Howell. All 11 reviews posted anonymously by Euroclear Bank employees.