TD Banknorth Reviews
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Company Rating Based on 8 ratings “Satisfied” |
CEO Approval Based on 7 ratings Bharat B. MasraniPresident, CEO, and Director 57% |
Reviews are posted anonymously by employees (updated Sep 18, 2009)
| 1 - 8 of 8 TD Banknorth Reviews | Sort by |
Pros
lots of room to improve your position with in the company. many lcoations to work at, so change of address is easy to deal with.
Cons
they are making many rules and regulations much more strict. they are changing their bank policies and not telling customer service reps much about them.
Advice to Senior Management
sstart treating employees in a way that reflects their individuality. educate them on changes if you absolutely must make them.
Pros
There are many opportunities to advance within the company along with many opportunities to move to other branches within the United States and Canada.
Cons
I feel as though sometimes I am working fora company that is too concerned with making money. I understand it is not a "not for profit" company, however more attention needs to go to the customers and meeting their needs, not ours.
Advice to Senior Management
Management needs to relax a little. There are very strict regulations for working at this bank. We must wear uniforms every single day, we are not allowed to keep coffee or water at our station or even keep our purses under our station. The more they try to make all of the branches uniform the more they de-personalize the way we interact with the communities we live in!
Pros
Fair compensation, challenging work environment
Cons
The recent acquisition of Commerce Bank has created constant change in operational procedures which place more responsibilities back on the stores (yes, we are now called "stores") making it difficult to focus on sales and customer service. And performance reviews are based strictly on numbers generated from sales and the results of customer satisfaction surveys. Our product offerings have changed leaving us less competitive in our market area.
We have been forced to adopt the "brand" cookie cutter philosophy of Commerce, where everything is expected to look the same at every location. I now have an assigned place for my stapler. We have been required to remove everything from our counter tops and desks resulting in printers, fax machines, and frequently used items being placed in extremely inconvenient locations. It is an ergonomic nightmare for our locations in Maine.
Changing job levels and job descriptions do not reflect much value for lower level employees.
Our team philosophy of the past is being replaced by the cult like philosophy of Commerce. Those willing to dedicate themselves completely to the company and cheer the loudest at the pep rallies may stand a chance at advancement while all others will be considered dispensible.
I fear we will become the Walmart of banks.
Advice to Senior Management
Drop the cookie cutter philosophy. As another reviewer mentioned, what works in Florida may not work in Maine. Value all employees since they truly are your most valuable asset. Invest in them and you will prosper.
Pros
The company is large enough that the super driven individual could find moving up in the bank easy as long as they don't mind relocating.
Cons
The bank has substantially increased in size over the past ten years and is now trying to compete with Bank of America. Some customers are noticing the changes i.e. no more free checking accounts.
Advice to Senior Management
Focus less on sales goals and more on customer service. Tellers are not sales people. They don't get into banking for sales. The more pressured they feel the worse they'll perform their regular tasks.
Pros
Friendly and helpful co-workers. Most of the time they were willing to help you understand and advance further, which I found to be helpful.
Cons
Long hours and lack of clear communication with management was upsetting at times. The expansion seemed too rapid and improperly managed.
Advice to Senior Management
Provide more open communication with employees, especially with regard to promotion from within, periodic reviews, and the basis of the reviews.
Pros
Branch is friendly with contacts to local community
Cons
Branches will be open on Holiday's later this year
Advice to Senior Management
Just because something worked for Commerce Bank in the South does not mean that it will work for New England customers
Pros
Excellent benefits such as a generous vacation, holiday and sick time. Management recognizes the value of work from home and provides wonderful balance between work and life. pay is good for Maine but under national averages. The project opportunities are incredible. Each new acquisition brings extraordinary projects not found in other companies in Maine
Cons
Educational benefits are light. Promotion opportunities are reserved for favorites and typically not open to all employees. Management has moved to Mt. Laurel, NJ with the acquisition of Commerce Bank. Additional acquisitions are planned which may diminish opportunities in Maine. The rapid acquisition of banks is causing some organizational chaos which may make some people uncomfortable.
Advice to Senior Management
Senior bank management has done an excellent job at skirting the sub-prime mortgage mess as well as the pending credit card fiasco coming in 2009.
Pros
Their mentor program that allows you to move up in the company once you let them know what your plans are. They are very flexible with the balance between work and home life and that is something that you rarely find in a large bank.
Cons
Discommunication along the footprint. What is done in NJ is not done in FL and that puts you at a disadvantage in terms of promotion because the same rules do not apply. In addtion, if you wanted to transfer along the footprint from Florida it is like starting a new job because the rules no longer apply.
Advice to Senior Management
There needs to be continuity within the Bank. With the merger of Commerce and TD, thet should ensure that what goes on in NY, PA, NY also goes on in FL.
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