Financial Ombudsman

  www.financial-ombudsman.org.uk
  www.financial-ombudsman.org.uk

Financial Ombudsman Reviews

Updated September 24, 2014
Updated September 24, 2014
18 Reviews
3.0
18 Reviews
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Caroline Wayman
1 Rating

Employee Reviews

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  1.  

    poor pay rate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - PPI Consultant in London, England (UK)
    Current Employee - PPI Consultant in London, England (UK)

    I have been working at Financial Ombudsman full-time (less than an year)

    Pros

    atmosphere is amazing, lovely work ethic and learning and development support

    Cons

    very poor salary for PPI consultants, with the fact that you have to hit 35 cases a day and seems like progression to move to different departments is limited, unless you only want to be a adjudicator. what if you do not want to be one or want to job rotate to something other than being adjudicator.

    Advice to ManagementAdvice

    good depending who is your manager

    Recommends
    Neutral Outlook
  2. 3 people found this helpful  

    Great place to work but not if you go in as a contractor.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Adjudicator in London, England (UK)
    Former Employee - Adjudicator in London, England (UK)

    I worked at Financial Ombudsman as a contractor (more than 3 years)

    Pros

    if your a permanent employee you get treated with some respect, they provide you with training and support and attempt to live the true values of the Ombudsman Service.

    Cons

    If you go in as a contractor, forget the value system, forget basic employment rights.
    All the management in the contractor side of the organisation are interested in is targets, getting the cases out of door and then chastising the adjudicators when they make mistakes because they haven't been provided with the correct level of training.
    If you raise any concerns about the practices within the "managed operations" side of the organisation you get told "there are 700 people we have interviewed for this position, we can replace you in an instant"
    Poor management on the contracting side, really letting the Ombudsman Service down badly.

    Advice to ManagementAdvice

    Sack the bad managers in particular those who are introducing a culture of fear and hostility towards those who question the shoddy practices. Return to the value system that made working for Ombudsman Service a pleasure;

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    A step to something better

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Adjudicator in London, England (UK)
    Former Employee - Adjudicator in London, England (UK)

    I worked at Financial Ombudsman full-time (more than 3 years)

    Pros

    Good vibe (most of the time).
    Great offices.
    Great stepping stone. If a graduate wishes to have a career in compliance and is not sure how to get their foot in the door, the ombudsman is a great place to do it. No previous financial knowledge is required to become an adjudicator - you just need to demonstrate good communication, organisational and customer service skills.
    Technical knowledge developed on the job is great. Its pretty scary when you first start but you eventually find your way.
    Chief Executives have been relatively engaging.
    Casual dress code. Great.
    FOS makes an effort to improve. For example, interaction between ombudsman and adjudicators has improved greatly over the last few years, which has increased quality.

    Cons

    Targets increase constantly, and quality is expected to stay the same...

    Many consumers are incredibly difficult to deal with. Many will be friendly until we tell them that we are not upholding their complaint. They will then accuse us of being in the pockets of the banks. Let me make this clear - we have no motivation to reject complaints unfairly. We do not salivate at the prospect of telling you that you aren't going to get any more money. We do not want to have to defend our position to you for an hour or more on the phone.

    Adjudicators do the bulk of the organisation's work but are not rewarded particularly well in terms of pay and opportunites for progression. The salary is good if you are just out of uni but if you're not then its pretty rubbish. Saying this, however, it is not so much of a problem if you think strategically. You can stay for a couple of years, develop your skills, and then go to another job paying 10k more. FOS is not really a place for a long term career, but then again, I don't think many people would want to spend their whole career in a complaints environment.

    Team managers don't really do a lot. They keep their eye on the figures, customer service and deal with service complaints, however, without technical knowledge, they are limited in the help they can give adjudicators. Current team sizes could easily be increased 50%, reducing the number of team managers. There would then be a bit more money to go around for the rest of us.

    FOS has a relatively small number of truly technical experts - ie. adjudicators that have been in the job for more than 10 years. Unfortunately, in the battle for promotion, these individuals can be sidelined to make way for the younger generation. You therefore often have relatively inexperienced people mentoring/checking work etc instead of those best placed to do this. I think FOS needs to appreciate, and make more use of, those that have the most knowledge. Creating technical specialist roles may help to do this.

    Advice to ManagementAdvice

    Increase team sizes.
    Slow down on the targets and remember that adjudicators are not superhuman. Being at the FOS for a few years does not mean that we no longer have to stop and think about which way to go with a complaint. You need to allow adjudicators time to do this.
    Learn how to use your most experienced staff to the best effect.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Great company, but progression can be limited, and salary fairly low

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

    I have been working at Financial Ombudsman

    Pros

    Work life balance is good, and the culture of the service is friendly and is always trying to be better.

    Cons

    Salary, and progression. There are really only two routes to progress, which can be limiting if there are no openings or if those roles dont interest you.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    A Great Stepping Stone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Adjudicator in London, England (UK)
    Current Employee - Adjudicator in London, England (UK)

    I have been working at Financial Ombudsman full-time (more than an year)

    Pros

    Great Values, the values can protect you and as long as you stick to them, you have a good excuse for anything.
    Decent people.
    Senior Management are accessible and happy to speak to you.
    Free gym (now two gyms)

    Cons

    Pay - not so good.
    Inconsistencies. First, they are quality driven, then they are told to try harder to be more productive. A balance is practically impossible.
    Consumer Champions. As fair and impartial as you want to be perceived, the consumer's needs come first. Some consumers are absolute terrors and basically unreasonable and that should be taken into account.
    Some of the management, are absolutely terrible. Essentially no technical training, but are expected to support you with your job which is virtually impossible.
    Mentors/technical experts are not as recognised as they should be. They do much more than managers and are essentially under paid and unappreciated.
    Guidance changes regularly and ends up being misconstrued by the very many divisions resulting in amazing error propping up everywhere and nothing being done about it.

    Advice to ManagementAdvice

    Pick one objective and focus. Quality or quantity, it's basically impossible to achieve both.

    Up skill your managers.

    Recommends
    Positive Outlook
    No opinion of CEO
  7.  

    Limited progression for non-casework staff

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

    I have been working at Financial Ombudsman full-time

    Pros

    Colleagues and general ethos is great among direct colleagues

    Cons

    Limited career progression for non-casework.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Great place to build a long-term career; work life balance and generally a fair pay scheme

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

    I have been working at Financial Ombudsman full-time (more than an year)

    Pros

    Lots of training opportunities, 25 days annual leave, non-contributory pension, annual bonus

    Cons

    Some inconsistency with ability of employees, some office politics

    Advice to ManagementAdvice

    No real suggestions other than don't be afraid to weed out the less able employees

    Recommends
  9.  

    Decent Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Adjudicator in London, England (UK)
    Former Employee - Adjudicator in London, England (UK)

    I worked at Financial Ombudsman full-time (less than an year)

    Pros

    I spent 6 months here. Very flexible working hours, not a very high pressured environment and good location near Canary Wharf.

    Cons

    Salary, structure was a bit strange and not very good progression.

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    FOS

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Adjudicator in London, England (UK)
    Current Employee - Adjudicator in London, England (UK)

    I have been working at Financial Ombudsman full-time (more than an year)

    Pros

    initially interesting work - work load not too big

    Cons

    never gets better - only more boring

    Advice to ManagementAdvice

    move people about - have regional offices - not just docklands

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Fantastic Foundation....poor progression

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

    I have been working at Financial Ombudsman full-time (more than 3 years)

    Pros

    Good training, pension, work-life balance

    Cons

    Poor progression, low base pay, hard to shake off the image of a consumer champion

    Recommends
    Neutral Outlook
    Approves of CEO

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