Society for Worldwide Interbank Financial Telecommunication SCRL

  www.swift.com
  www.swift.com

Society for Worldwide Interbank Financial Telecommunication SCRL Reviews

Updated December 12, 2014
Updated December 12, 2014
58 Reviews
3.5
58 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.  

    Was such a good place, but now?

    • 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 10 years)

    Pros

    My colleagues were excellent and hard working. Work / Life balance was great allowing you to have a life outside of work.

    The work was rewarding at times.

    Cons

    Middle Management will not listen to new ideas, nor hear complaints regarding policies, procedures, or implementation.

    HR is not there for employees but to protect Management and their ideas on how things are run. If you disagree with how things are done, you will most likely be looking for a new job sooner than later. HR completely espouses the party line.

    There is a culture of fear, uncertainty, and doubt. You fear for your job if you question policy. You have no career advancement due to promotion freeze (unless you are favoured by Management). You never know how you are doing job-wise as the yearly review cycle is done behind closed doors without your input. You can perform really well, but if you are out of favour with Management, you just don't know what will happen. Yes there are Mid-Year reviews, but mostly those are window dressing and meaningless.

    Merit and bonus is not tied to performance. It is all up to what Management wants you to have, not what you have earned on merit. And it isn't a bonus, it is a "salary adjustment". It isn't tied to hard policy, but management whims, no matter what they say,.

    Middle Management does not communicate what is really going on and uses lots of "Party Line" to obfuscate what is really happening at higher levels.

    This *was* a good company... such a shame and dis-service to the Banking Community who just doesn't know how the company is going downhill.

    Advice to ManagementAdvice

    Moral is bad and is getting worse and worse. Listen to your people. They have the skills and expertise and can do amazing things if allowed.

    Stop punishing those who have questions. No one wants to speak their minds anymore!

    Remove micro-managers and promote on merit from within departments, don't transfer in those who don't know what is going on and no departmental knowledge.

    You are a global company; don't act Belgium centric.

    Do not think cheaper is better. New grads don't know it all yet. Cheaper staff doesn't always mean better service.

    KPI's are a good goal, but they are not the law and absolute. Stop living by unrealistic standards when it comes to hiring practices.

    Merit and bonus should be a hard and fast policy, not a philosophy interpreted by managers at their whims.

    Doesn't Recommend
    Negative 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. 1 person found this helpful  

    Very good benefits

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

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

    Pros

    Very very good benefits.. Makes you stick longer...majority work force has been working longer than 10 years... Very good health plan..

    Cons

    No upside movement after certain level.. Majority of the senior management has been with company 20+ years.. No one leaves...

    Advice to ManagementAdvice

    Rotate middle management...

    Recommends
    Positive Outlook
    Approves of CEO

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