IndyMac Bancorp Reviews

Pros

The pay and benefits were acceptable for a corporate setting.

Cons

They did not like to hear the truth, although that should have been expected considering the job title. Corporate mantra centered on metrics above all else. Even if those metrics created shortcuts and incomplete reports in those wishing to only spend 8 hours at task. Exceed a goal and the next time even more would be expected, even if the only way to exceed a goal required 12 to 16 hour days. Constant veiled threats and false promises were part of the culture. Don't expect to have a family life in this position.

Advice to Senior Management

Management did not really understand the role of quality assurance. Thought of it as a revenue source rather than preventing a future revenue drain, which eventually occurred since FDIC needed to take them over. Bleeding occurred due to philosophy of putting too much lipstick on the pig appraisals and loan qualifications. The myopic managers denied the growing problem and refused to do anything proactive to stop the bleeding due to their bonuses being tied to reporting a rosy picture.

Pros

People are good to work with, friendly mgmt, good work.life balance with not many long hours

Cons

Lot of incompetence, no direction or sense of urgency

Advice to Senior Management

Hire better people

Pros

Better than average use of technology, good product offering and price point, general business structure allows for the organization to take advantage of current and new legislation and to capture market share from smaller and less mature competitors.

Cons

Lack of ability to change quickly, poor communication/lack of alignment between related departments, narrow and limited approach to inventing and constructing solutions and opportunities from the existing pieces.

Advice to Senior Management

Think in terms of identifying intersection points where the interests of employees, shareholders, and customers meet. There is too much activity that is not connected to a meaningfully significant purpose and outcome. Through the minefield of challenging static issues, there are dynamic opportunities that can be influenced and perceived in ways that could resolve large numbers of significant problems.

Pros

Part of great sales team. All AE's were smart, fun, and had great personalities. Had a good benefits package.

Cons

Our management was not very receptive to the employees and what was going on. Some managers did not know much about what they were managing.

Advice to Senior Management

Listen to the employees and use the suggestions to your local offices. Learn how to communicate information in a more timely manner.

Pros

Good salaries, high volume, plenty of time off, risk management availability, highly skilled emplyees still offered overtime pay, imaging, short commute

Cons

lack of knowledgable employees, lack of skilled management, no opportunity for advancement, country club atmosphere, male driven environment, no cohesive risk strategy, sales driven production environment

Advice to Senior Management

NA

Pros

Great technology with their EMITS system

Cons

Terrible management which is why they went under

Advice to Senior Management

They're bankrupt now, so oh well

Pros

Easy to move up the ladder in relatively short period of time. Overall i was satisfied with senior management and their abilities to get things done quickly when needed

Cons

There was too much middle management who mostly sat around in meetings all day but weren't ever contributing to the end product. Paying for parking and office politics

Advice to Senior Management

Give the employees more value, the ones that are left have been through quite a bit for this company and deserve to be compensated well for this. Don't make employees pay for parking!

Pros

IndyMac Bancorp is now OneWest Bank. There have been some good changes made such as management. I guess they realize what they were doing wasn't working and needed to do something different.

Cons

Where do I begin? The environment was so toxic there - talk about watching your back! The managers there are some of the wost I've ever encountered. Please keep in mind that these managers are still there so watch out!

Advice to Senior Management

Change everything that you did as Indy Mac to something else. Some of you should consider firing yourselves. Change is necessary.

Pros

The going was good only during the good time. When the going was bad, it was bad.

Cons

No future, especially when the FDIC took over the company.

Advice to Senior Management

Listen to the line workers, customers, all people who is linked to the company for improvement ... and try to incorporate suggested improvements.

Pros

IndyMac is a very laid back place to work. Your fellow employees will be a joy to work with but the pay is on the lower end. It is easy to get comfotable here, but at some point while working here you will realize that you have not progressed much or gained news skills that will make you competitive in the job market. If you are satisified with your pay and title, it is a good place to be. If you are looking to grow as an employee and climb the ladder, DONT WORK HERE

Cons

low pay and limitied upward mobility

Advice to Senior Management

create programs to develop and promote employees. Give better bonuses