Federal Reserve Bank of Richmond Reviews

Updated July 29, 2015
39 reviews filtered by
  • Any Location
  • Any Job Title
  • Full-time
  • Part-time
Employment Status

Reset
3.5
Rating Trends
Recommend to a friend
Approve of CEO
Federal Reserve Bank of Richmond President Jeff Lacker
Jeff Lacker
24 Ratings

39 Employee Reviews

Sort: Popular Rating Date
  1. Featured Review

    Great place to work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Examiner in Richmond, VA
    Current Employee - Examiner in Richmond, VA
    Recommends
    Positive Outlook

    I have been working at Federal Reserve Bank of Richmond full-time (More than 8 years)

    Pros

    Great work environment to be in, and your learning opportunities are endless. The insurance, retirement, and time off benefits are out of this world.

    Cons

    Travel can be tough at times. However, the work / life balance is getting better and better due to the leveraging of telecommunications.

    Advice to Management

    Put a little more of an emphasis on the benefits that we are sowing into the communities. It gets hard to remember the difference you're making at times, and this could be a great point of emphasis for the staff.


  2. IT

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Richmond full-time (More than 8 years)

    Pros

    Decent Compensation and Pension are still in play at the Fed. Flexible work arrangements/Telework for many positions. You will get to work on solutions the support the Global economy.

    Cons

    Some things will move at a snails pace. Many of the customers you service have an expectation of perfection and provide very little room for anything to not work and in IT...things don't work sometimes. The political environment of a Federation is unlike anything in the private sector.

    Advice to Management

    Continue to keep up with current trends. Seems the Fed is 5 years behind the rest of Financial Services Industry with how quickly new ideas and efforts get adopted.


  3. Love it but...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Enterprise Program Manager in Midlothian, VA
    Current Employee - Enterprise Program Manager in Midlothian, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Richmond full-time (More than 5 years)

    Pros

    Mission, security, pension, flexibility, value of your work. Average tenure is 30+ years for a reason. You can really make relationships and find a home with the shared values and mission to the nation and economy.

    Cons

    mission and culture only go so far; it works you to the bone and the pay is tough to keep with when it's not as competitive with the market, when you're finding it hard to make ends meet. At times, it's like governmental agency, even though each Reserve Bank is a private legal entity.

    Advice to Management

    Do more with less can not mean work longer hours. Finding efficiencies and being agile requires a level of risk acceptance that it not historically acceptable for the mission critical systems.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    Great benefits, but...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Benefits can't be matched. PTO is amazing and included a pension.

    Cons

    Inept unqualified people everywhere. You either are a 'seat' that was hired for 'diversity purposes', do not work and never get in trouble, or are a skilled worked who will pick up the slack for everyone.

    Advice to Management

    Management needs to thin out underqualified/lazy workers. Allowing people like this to continue to be employed destroys morale to those who work hard and see others do nothing and never get reprimanded.


  6. Economic Internship Review

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

    Pros

    Supportive research teams, supervisors are very engaged and willing to help you learn.

    Cons

    Everything about this experience was phenomenal.


  7. Intern

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Everyone is very friendly and willing to answer questions. Intern friendly environment

    Cons

    Rare to get full time offer

    Advice to Management

    Work more on making the internship turn into full time opportunities


  8. Helpful (4)

    Dead end for young professionals

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Cash Teller in Richmond, VA
    Former Employee - Cash Teller in Richmond, VA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Richmond full-time (More than 3 years)

    Pros

    PTO, Great Benefits, Gym on site.

    Cons

    There is a extreme lack of growth for young professionals. The mindset is very conservative with promotions or hiring within. The bank is aware of the generation gap but does nothing to help young professionals to advance. Cash Department is a place young careers go to die.

    Advice to Management

    Take the time to train and develop young employees.


  9. Helpful (4)

    My experience at the Federal Reserve Bank of Richmond

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Compensation Analyst in Richmond, VA
    Current Employee - Senior Compensation Analyst in Richmond, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Work-life balance is good. Pay rate is fair.

    Cons

    Highly mechanical organization. Many cliques... external experience not appreciated. Promotes from within only with pretenses of external consideration...

    Advice to Management

    Consider and value external applicant's skillset and diverse experience... value can be added to organization from experiences other than the Federal Reserve!


  10. Interesting place to work

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great benefits, great people to work with

    Cons

    Hard culture to navigate, relationship driven


  11. Federal Reserve Bank of Richmond

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

    I worked at Federal Reserve Bank of Richmond full-time (More than 5 years)

    Pros

    Great place to work. Inclusive and challenging work environment.

    Cons

    One of twelve Federal Reserve Banks in System. Opportunities may be limited.



Showing 39 of 43 reviews
Reset Filters
RSS Feed </> Embed

Your response will be removed from the review – this cannot be undone.