Federal Reserve Bank of Richmond

  www.richmondfed.org
  www.richmondfed.org

Federal Reserve Bank of Richmond Reviews

Updated December 15, 2014
Updated December 15, 2014
33 Reviews
3.2
33 Reviews
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Federal Reserve Bank of Richmond President Jeff Lacker
Jeff Lacker
23 Ratings

Employee Reviews

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  1.  

    Great place to work

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

    I have been working at Federal Reserve Bank of Richmond full-time (less than an year)

    Pros

    Smart people and dedicated with a commitment to the mission of the Federal Reserve, and to its work on behalf of the US Economy and its strength in the global economic environment.

    Cons

    Salaries may not align competitively with commercial enterprises, but benefits, career growth, stability, and the opportunity to do exciting and meaningfull work are unsurpassed.

    Recommends
    Positive Outlook
  2. 2 people found this helpful  

    Could be better

    • 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 (more than an year)

    Pros

    Great learning opportunities and interesting work. Pay and benefits are very good as is the cafeteria.

    Cons

    Lack of diversity in management and in senior levels leads to a stale culture that appears to be stuck in the past.

    Advice to ManagementAdvice

    Get with the times.

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

    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 (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
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  5. 2 people 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 (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
  6. 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 (less than an 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
  7.  

    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 (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
  8. 1 person found this helpful  

    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 (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
  9.  

    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
  10.  

    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 (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
  11. 2 people 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 (less than an 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

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