Federal Reserve Bank of Richmond

  www.richmondfed.org
  www.richmondfed.org
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Federal Reserve Bank of Richmond Reviews

Updated August 1, 2014
Updated August 1, 2014
31 Reviews
3.2
31 Reviews
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Federal Reserve Bank of Richmond President Jeff Lacker
Jeff Lacker
22 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    Information Systems Analyst

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

    I worked at Federal Reserve Bank of Richmond full-time for more than 8 years

    Pros

    The Richmond Fed offers extremely good benefits. They are always looking at ways to enhance their benefit plans and offerings. There are plenty of job opportunities at the Fed and it is easy for employees to move into different roles. They also have an awesome executive dinning room and employee gym. There is also a very nice Starbucks and employee lounge that offer very nice views of the James River.

    Cons

    Many employees are very stressed out because of the amount of work. Upper management has unreal expectations and put employees under a lot of pressure. Also the Richmond Fed is lacking in diversity when it comes to race and gender. Additionally, many people are working their just to retire, so moving up the ladder can take a while.

    Advice to ManagementAdvice

    Management at the Richmond Fed really needs to focus on improving the diversity among middle management and upper management. While their diversity initiatives under way, they seem to focus on improving diversity at the lower levels of the organization. Additionally management needs to be aware of the work load and stress of their employees.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    See Nothing Changed

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

    I worked at Federal Reserve Bank of Richmond full-time for more than 5 years

    Pros

    Great benefits, love the dining room and gym. Environment is lovely and the PTO is nice.

    Cons

    It takes forever to move up and when there is an opportunity it is already targeted for some one. Diversity at the upper levels are not to be found. African Americans need not apply for any meaningful job.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. 1 person found this helpful  

    FRIT Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - IT Intern  in  Richmond, VA
    Former Employee - IT Intern in Richmond, VA

    I worked at Federal Reserve Bank of Richmond as an intern for less than a year

    Pros

    Very nice office. Great cafeteria. Great speaker events.

    Cons

    Did not receive real world work that was directly related to the department you are set in.

    Advice to ManagementAdvice

    No advice to management, but for HR, take notes on the internships by other companies. Utilize the internship programs for actual experience and chance of full time hire.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    A really good organization

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Staff Assistant  in  Richmond, VA
    Former Employee - Staff Assistant in Richmond, VA

    I worked at Federal Reserve Bank of Richmond full-time for more than 10 years

    Pros

    They provide parking for the employees, good benefits, in a good location, community oriented, has a nice employee cafeteria, has an exercise facility, a doctor and nurses are on the premises. The pay is comparable to other companies.

    Cons

    Management is instructed to be firm and tough with assigning responsibilities, but if you have a thick skin and capable of juggling ALOT of tasks, then this is the place for you.

    Advice to ManagementAdvice

    N/A

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    What a mess

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

    I have been working at Federal Reserve Bank of Richmond full-time for more than 3 years

    Pros

    New COO/First VP has good ideas and seems more 'in touch' with reality than previous management
    Decent work life balance focus
    Lots of perks if you work in Richmond office - fitness center, barber shop, Starbucks, doctor on site

    Cons

    People are routinely let go with no explanation yet many people remain who have little productivity but are liked and aligned with senior management.
    Bank seems stuck in the past and not committed to changing the way things are done
    Too many long time bank employees who are just counting days to retirement

    Advice to ManagementAdvice

    Stop living in the past

    Doesn't Recommend
    Negative Outlook
  7.  

    Decent over all

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

    I have been working at Federal Reserve Bank of Richmond full-time

    Pros

    the company has good benefits

    Cons

    the job descriptions are a bit unclear

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    A great career that you'll have the opportunity to make the most of!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Bank Examiner  in  Richmond, VA
    Former Employee - Bank Examiner in Richmond, VA

    I worked at Federal Reserve Bank of Richmond full-time for more than 5 years

    Pros

    The salary and benefits are great, and there are many different types of job opportunities at the Richmond Fed. You'll have great job stability, and you can take pride as you help serve the public.

    Cons

    It's quasi-governmental so you may not get the private-sector recognition you're used to and it's a slower pace.

    Advice to ManagementAdvice

    Stay the course!

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Not a good IT department

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Service Assurance Specialist III  in  Richmond, VA
    Former Employee - Service Assurance Specialist III in Richmond, VA

    I worked at Federal Reserve Bank of Richmond full-time for less than a year

    Pros

    almost no work to do....Is this really PROS?

    Cons

    FRIT:

    1) Team culture: not GOOD, they don't welcome new comers...
    2) Team lead: use BULLY and does MICRO managing...
    3) Team members: Don't have required skills and experience, ping-pong game, too much POLITICS, bully...
    4) No skill improve, not many opportunity to learn new tech skills
    5) Very Lazy people and you need two headache pills every day.

    Advice to ManagementAdvice

    1) Get rid of 'Team Lead' position, it's useless.
    2) Do not do 'MICRO' management
    3) Educate your people: Don't let them to BULLY

    Doesn't Recommend
    Negative Outlook
  10. 1 person found this helpful  

    Very good for family, stable but not good for growth

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Bank of Richmond

    Pros

    Very good people, benefits and atable

    Cons

    Very slow moving, less flexible, slow growth

  11. 1 person found this helpful  

    Nowhere Land

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Richmond, VA
    Former Employee - Anonymous Employee in Richmond, VA

    I worked at Federal Reserve Bank of Richmond full-time for more than 10 years

    Pros

    Health Insurance, Retirement Benefits, Salary,

    Cons

    Promotions slow to come, poor management, red tape, long hours

    Advice to ManagementAdvice

    Listen to your employee opinions, Be more cognizant to managerial practices throughout the bank.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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