Society for Worldwide Interbank Financial Telecommunication SCRL

www.swift.com

Society for Worldwide Interbank Financial Telecommunication SCRL Reviews

Updated December 29, 2014
Updated December 29, 2014
59 Reviews
3.5
59 Reviews
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Society for Worldwide Interbank Financial Telecommunication SCRL CEO Gottfried Leibbrandt
Gottfried Leibbrandt
20 Ratings

Review Highlights

Pros
  • Good work-life balance compaired to most companies in the IT sector these days (in 10 reviews)

  • Good benefits and a place to get your career started after college (in 8 reviews)


Cons
  • Senior management has lost the plot in regards to company direction (in 4 reviews)

  • Career growth is almost non-existent in terms of promotions or new jobs (in 3 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Enjoyed my tenure at the company.

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

    I worked at Society for Worldwide Interbank Financial Telecommunication SCRL full-time (more than 5 years)

    Pros

    Great salary and benefits and very family friendly. Supportive work-life balance. Great co-workers. Nice offices. Excellent training opportunities with Swift University.

    Cons

    European based bureaucracy slows the pace for promotions and professional advancement. Would have liked to see more encouragement from upper management for pro-activeness.

    Advice to ManagementAdvice

    Be more open-minded to younger generations.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Move around within the company

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

    I worked at Society for Worldwide Interbank Financial Telecommunication SCRL

    Pros

    SWIFT has insanely good benefits and competitive salaries. Cafeterias in work locations and focus on training are also very nice.

    Cons

    It's easy to get stuck in one spot and stop learning new things. A lot of positions have very limited room for creativity.

    Advice to ManagementAdvice

    Encourage people to move around outside of the company as well as within. Too many people stay forever, which creates all kinds of problems for promotions and morale. It also makes it hard for those employees to find jobs elsewhere, even if they wanted to.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Good place to retire

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer in Manassas, VA
    Current Employee - Software Engineer in Manassas, VA

    I have been working at Society for Worldwide Interbank Financial Telecommunication SCRL full-time (more than 10 years)

    Pros

    Benefits - Free healthcare for the family
    People - Friendly environment
    Low Pressure - Can have long career, even if you are not very talented

    Cons

    Growth - Very limited growth opportunities, especially in VA
    Values - Maintaining status-quo and not causing failure is valued to such an extent that it is crippling creativity
    Inefficient - The organizational structure does not allow room for increased efficiency. There are no specializations being built, resulting in a lot of jack of all trades

    Advice to ManagementAdvice

    Please review if we are delivering sustainable results or just checking tasks of a check-list.
    View people as an asset and find ways to develop their skills, morale and self-esteem.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Good company to work for as a permanent employee.

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

    I worked at Society for Worldwide Interbank Financial Telecommunication SCRL (more than 5 years)

    Pros

    SWIFT (Society for Worldwide Interbank Financial Telecommunication) has a very casual office culture at their VTC development center. Arriving at a meeting within 5 to 10 minutes of the start acceptable. Attire is casual, even the first and second level managers wear blue-jeans. Everyone is friendly, breakfast is provided on Wednesdays. Coffee and beverages are provided gratis every day.

    SWIFT is not a corporation, so they don't answer to share-holders, but is a cooperative of the world's banks, and so are providing a service to banks. Their goal is to decrease the cost of their services on a yearly basis. SWIFT started in Belgium, and headquarters are there, and so the organization has that European outlook on employees and benefits.

    Permanent employees are rarely let go or laid off. Benefits for those employees are great.

    Cons

    At SWIFT's U.S. development center, VTC, schedules are usually chosen by management for the developers, and the developers are expected to meet those schedules, no matter how poorly chosen the dates are, so this can mean long hours for employees. The work-life balance under those conditions is poor.

    The senior local management has been in place for some time, and there are not many opportunities for upward movement. Some in local management are near retirement, but those in the lower management positions, who have the same philosophies about managing, will be moving up into those positions.

    Advice to ManagementAdvice

    Do not be too eager to rid the company of old technologies before that new technologies have had a good long burn-in period, proving itself reliable.

    Look at more modern management practices, where the experts (the employees) make technical decisions, create schedules, and drive change, and the managers manage people.

    Also look at hiring people with proven expertise, and to keep them, pay them a bit more.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Mixed good and not so good experiences

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

    I worked at Society for Worldwide Interbank Financial Telecommunication SCRL as a contractor (more than 5 years)

    Pros

    The people are great. You can quickly develop great friendships.

    Cons

    The structure of the company is a very strict top down very controlled work environment. When it works, it works well as expected. But mostly you have to hack your way around it to actually get work done. However, I did see movement towards a more flexible organization in the past couple of years.

    Advice to ManagementAdvice

    Investigate more dynamic and distributed authority organizational systems otherwise the more flexible and innovative competition will start to overshadow.

    Recommends
    Positive Outlook
    No opinion of CEO
  7.  

    Nice working place

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Society for Worldwide Interbank Financial Telecommunication SCRL

    Pros

    i like to work here it's nice office and people are nice and they are good people and they like to work hard

    Cons

    there are no cons here

  8. 3 people found this helpful  

    Extremely good benefits, no room for advancement

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Security Management Specialist in Culpeper, VA
    Current Employee - Security Management Specialist in Culpeper, VA

    I have been working at Society for Worldwide Interbank Financial Telecommunication SCRL full-time (more than 3 years)

    Pros

    - Best benefits I've seen, ever
    - Decent salary
    - Casual atmosphere
    - Decent culture

    Cons

    - No room for advancement, someone has to die or move for you to take their spot
    - Management is not very competant

    Advice to ManagementAdvice

    Get rid of the older folks who were in SWIFT during the 'golden days' and got promoted every week. It's killing the growth because the newer hires cannot advance due to the disgusting amount spent on promotions years ago

    Recommends
    Neutral Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    .

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at Society for Worldwide Interbank Financial Telecommunication SCRL full-time (more than 10 years)

    Pros

    International environment, good reputation, perfect for 50/+ yo professionals looking for a place to retire

    Cons

    Mid management in their mid-50ies: protect each others (zero growth opportunities), affraid of change, give lip service to HQs

    Advice to ManagementAdvice

    Change the management team in remote sales offices, encourage diversity at the top

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10.  

    Job title and role don't align with needs

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

    I have been working at Society for Worldwide Interbank Financial Telecommunication SCRL full-time

    Pros

    Work life balance and clients

    Cons

    Management philosophy and operational structure

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    SWIFT 2.0 isn't an upgrade for seasoned employees

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

    I have been working at Society for Worldwide Interbank Financial Telecommunication SCRL full-time (more than 10 years)

    Pros

    Focus on training; tuition reimbursement; if you are a young grad, you will get a lot of attention and encouragement and your career will grow quickly in the beginning. Benefits are still good comparatively (though much much less so than previously).

    Cons

    LEAN reduced workforce to point that there's more work than people to do it; they are pushing out older employees (50+); promotion process is unclear and it is flat - you go from 30 to 40 quickly, 40 to 50 takes longer, reaching 60 is almost impossible unless you are management. Your performance rating is done by committee before you meet with your manager.

    Advice to ManagementAdvice

    Reduce stress. Plan enough time/head count to get projects done right. Quality is going downhill so something has to be done sooner than later.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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