Ocwen Financial Reviews in India

Updated August 27, 2014
Updated August 27, 2014
173 Reviews

2.1
173 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
65 Ratings

Review Highlights

Pros
  • good salary and good responsibility (in 8 reviews)

  • earn good incentives with a chillax enviornment (in 5 reviews)


Cons
  • Senior management never speaks up for their teams (in 8 reviews)

  • Too much pressure and no defined work hours (in 5 reviews)

More Highlights

84 Employee Reviews Back to all reviews

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  1.  

    Join to do a reality check on whether you need money/designation or integrity or culture and work-life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Manager  in  Bangalore (India)
    Former Employee - Senior Manager in Bangalore (India)

    I worked at Ocwen Financial full-time for more than a year

    Pros

    Good company to start for fresh non technical graduates. Supportive team leaders and managers. Good variable pay (one of the best in the market). Very good company prospectes (company is agressive in acquiring competitors and servicing rights), good shareholder return i.e, the share price is always moving up, revenues are growing at a very consistent and increasing manner.
    Very good Canteen with wide varieties of vendors, Sports/recreational room, Cab facility, policy on immediate attention to emergencies, budget for outing, rewards and recognition plans, educational tie-ups with good institutes for freshers and tie-up with institues like IIM for Leadership training.

    Cons

    The entire senior executives are puppets of the Chairman of the company. The senior manager and directors are not empowered enough and trusted. They are mostly not involved to provide inputs for tactical and stratigic initiatives and decision making. For every small thing a BU head (Sr. VP) approval is needed. I heard the word 'approval' like 1 million times in less than 2 years of my stay in Ocwen and when people don't want to do their work, to avoid new work, they just say 'get your BU head approval', get 'Ron's (CEO) approval' etc. I feel pity for all the senior executives inlcuding the CEO as most of the emails that they be reviewing will either be customer compliants or approval emails.
    Ocwen is way too far to be compared with companies with a good culture. Very delayed efforts or no efforts are taken to look at the attrition rate, employee retention. Ocwen thinks money can buy everything. Instead of working on enhancing the brand value, Ocwen thinks it can be compensated through high paying offers to attract people from good brands. I think people live this organization for the following reasons (listed with my priority):
    1. For many employees it is kind of enforced that 'only if you work for minimum 11 hours a day, then you are a good fit for this company'.
    2. Work-Life Balance. Unless you have a very big justification, you are not provided with a laptop and you are not encouraged to work from home. In today's world with high traffick on the road, this is really needed at least for those who are not working directly with data which comes under data protection policies.
    3. Integrity. Ocwen talks a lot about integrity. However most of the business units are enforced with unrealistic targets and the blown up results are only shown on the presentations, as the goals cannot be acheived with the level of attrition and technology support. The Indian leadership team is not empowered at all..! an integrity issue.
    4. Attrition. Every hour there is someone leaving..! (exaggerating) without attempts to retain the trained perosonnel, managers suffer and get into high pressure mode which completely reflects on the team members to fullfill targets and accomplish work. No questions asked byt the HR if someone is working for 16 or 18 hours continously for few days as long as he/she does not work below 9 hours. It completely depends on the team you are working though. However, many of the teams follow this. Poor chaps, they want to make more money when they are very young. When you see more people leaving, you get demotivated.
    5. Poor technology. One has to work a lot on spread sheets and access database and very less focus is provided on technology enhacements though Altisource has been created to provide technology partnership. Most of the times altisource is fixing some problem or providing excuses to postpone the delivery. No accountabliity is established and no stricter rules are followed for non delivery by altisource as both the company has the same chairman. It looks like the objective of the chairman is to get revenue from both the companies by saying to Ocwen that 'You have to run the company with less cost on technology' and on the contrary saying to Altisource that 'you have to run the company with more technology projects'.
    6. Too much of audit. More than the business as usual work for 14-16 hours employees/management teams work for additional hours to provide what internal auditing team wants..! No trust in the departments and too much policing.
    7. Designations does not match with roles. Even after being called as Director or Vice president they will be doing things which are expected to be done by analysts or team leaders. Work/responsibility matrix is not followed as compared to the market. A senior manager may have no people reporting into him at all..!
    8. Too many people. It is too crowded on the floor. It feels like a fish market sometimes. Work stations are structured in such a way to have more people accomadated and it is very densely populated and you cannot have your privacy most of times. Even to just open your payslip and don't want a stare from your neighbour...

    Advice to ManagementAdvice

    1.Just not think or collect problems but implement to retain people. If you have skilled and experienced people, you can have lesser compliants from the customers.
    2.Have an open ear and encourage seniors from other companies to share their success stories and how can we create a brand and a employee oriented culture.
    3. Hire more people (anyways it is India it does not cost you too much), expand the training team, tripple the HR team, invest in best HR systems and do everything online which can avoid spending 14 papers per person every year for the performance appraisal . Go Green!
    4. Create processes/technology for humans, don't try to treat humans as machines. Have strong policies to make employees work only for 9 hours except exceptions, not the other way around.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    Analyst - Investor Accounting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst  in  Bangalore (India)
    Former Employee - Analyst in Bangalore (India)

    I worked at Ocwen Financial full-time for more than a year

    Pros

    Good for freshers only........

    Cons

    full of polities...

    Advice to ManagementAdvice

    Retain employee, improve work culture....

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

    Awesome place to earn enough to be happy..

    Current Employee - Customer Care Coordinator  in  Bangalore (India)
    Current Employee - Customer Care Coordinator in Bangalore (India)

    I have been working at Ocwen Financial full-time for less than a year

    Pros

    Money s good over here

    Cons

    Too much work for the above said

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  5.  

    Having 3.3+ years working experience as backup administrator using VERITAS Netbackup.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Net Backup Administrator  in  Bangalore (India)
    Current Employee - Net Backup Administrator in Bangalore (India)

    I have been working at Ocwen Financial full-time for more than 3 years

    Pros

    supportive management, very friendly and good work environment

    Cons

    lack of management, good lolicies and good training as well.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Good Experiecne

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bankruptcy Consultant  in  Pune (India)
    Current Employee - Bankruptcy Consultant in Pune (India)

    I have been working at Ocwen Financial full-time for less than a year

    Pros

    Didn't find any Pros as of now

    Cons

    No management in the company

    Advice to ManagementAdvice

    Plan the work

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Pathetic

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

    I have been working at Ocwen Financial for more than a year

    Pros

    Pays well, No work, No late sittigs

    Cons

    You will not learn any new things, No training mechanism, HR Dept is useless & full of bafoons.

    Doesn't Recommend
    No opinion of CEO
  8.  

    worse

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst  in  Bangalore (India)
    Current Employee - Financial Analyst in Bangalore (India)

    I have been working at Ocwen Financial full-time for less than a year

    Pros

    to get a job if you dont have any

    Cons

    poor management , immense work pressure, incentive plans are just a show biz .

    Doesn't Recommend
    Neutral Outlook
  9.  

    OK OK company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Residential Analyst  in  Bangalore (India)
    Former Employee - Residential Analyst in Bangalore (India)

    I worked at Ocwen Financial full-time for less than a year

    Pros

    Work timing is good for a BPO

    Cons

    Work Pressure
    monotonous work
    No transportation

    Advice to ManagementAdvice

    Try shuffling employees between roles and hire more people to reduce stress

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    no work life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investor Accounting Analyst  in  Bangalore (India)
    Current Employee - Investor Accounting Analyst in Bangalore (India)

    I have been working at Ocwen Financial full-time for more than a year

    Pros

    best place to make money
    Outlook of the company is optimistic
    Good growth opportunities

    Cons

    No work life balance
    target based job and heavy pressure

    Advice to ManagementAdvice

    Improve the work life balance of the people working

    Doesn't Recommend
    Positive Outlook
  11.  

    Pathetic Transportation

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Ocwen Financial full-time

    Pros

    Good Office culture and people

    Cons

    Extremely pathetic transportation service, poor cab desk management.

    Advice to ManagementAdvice

    Need drastic change in transportation management. Pathetic people, no coordination. You feel tortured dealing with them. Because of pathetic transportation, lady employees should not work here - especially in night shift.

    No opinion of CEO

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