Wilshire Credit Corporation

  www.wcc.ml.com
  www.wcc.ml.com

Wilshire Credit Corporation Reviews

Updated November 11, 2014
Updated November 11, 2014
8 Reviews
2.4
8 Reviews
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Stephen Glennon
1 Rating

Employee Reviews

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  1.  

    Culture varies - some departments are happier places to work than others.

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

    I worked at Wilshire Credit Corporation

    Pros

    Still financially stable, even after Merrill Lynch was acquired by another company. Some departments do promote from within, and seemed to try to grow their employees. Senior management is knowledgeable, and although employees might wish for more communication from them, they probably do as well as senior management at any company of their size at communicating with the staff at large.

    Cons

    Mostly judging by lunchroom discussions, some departments seem to be dead-ends. Transferring between departments doesn't seem as easy as it should be.

    Advice to ManagementAdvice

    Um, congratulations on being stable working the sub-prime mortgage sector of the economy? You're obviously doing something right, because I'm sure I couldn't do it.

    No opinion of CEO
  2.  

    Horribly, consistently, horrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Asset Management in Beaverton, OR
    Former Employee - Asset Management in Beaverton, OR

    I worked at Wilshire Credit Corporation full-time (more than 3 years)

    Pros

    Have food vendors come into the cafeteria, easy access to MAX and subsidies for public transportation, causal dress work environment, good benefits.

    Cons

    Incompetent bosses, no room for advancement, certain departments are a dead end, don't care about the individual, treat employees as though they are easily replaceable, high burnout rate and significant employee turnover, managers disastrously handle department reorganizations, change management skills are poor, salaries are not up to industry standards. Here, you are just a number. HR will also tell on you to your manager if you come to them in confidence. I had a better education than my managers, yet they denied me access to the management training program because they are so bloated with nepotism, and I wasn't anyone's sister/brother/mother/lover. Huge amounts of favoritism; I continually outperformed a colleague, yet I always got emails about what I was doing wrong, and we always had to hear praise of the colleague. So glad I left that place to a better work environment.

    Advice to ManagementAdvice

    Hire managers that actually know how to manage, and then train them how to speak to people without tearing them down. Stop the nepotism, get rid of the 50% of workers that do nothing yet continually earn praise. More wellness programs. Need to really clean house at this company, and upper management are some of the biggest offenders.

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

    Bad place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Analyst in Beaverton, OR
    Former Employee - Analyst in Beaverton, OR

    I worked at Wilshire Credit Corporation

    Pros

    If you are looking for call center or interdepartmental job, its friendly and nice place to work if you want live in portland. If you work in a job that deals with management, it is a farm. Very unprofessional.

    Cons

    Unskilled management(lack of education). Lots of interdepartmental conflicts and arguments. Very stressfull work environment. The employee turn over is very high but in company statistics they find way to make that statistic blend with the call center stats.

    Advice to ManagementAdvice

    Communicate to your employees, find ways to keep good people.

    Doesn't Recommend
    No opinion of CEO
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  5.  

    It was not what I was led to believe..

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

    I worked at Wilshire Credit Corporation

    Pros

    Wilshire has been around a long time in various manifestations and has managed to survive, at times bouncing back from certain death. Employees at the bottom of the ladder are mostly great people to work with.

    Cons

    Expectations are high for new employees and the training and support from management is sketchy at best. Even when large numbers of new procedures are added (and revised a number of times), the newer employees are expected to meet the same standards as employees who have been there a long time. The pressure to meet the numbers causes poor customer service and lower productivity. Turnover seems to be pretty high, as does dissatisfaction and frustration at the lower levels.

    Advice to ManagementAdvice

    Take a good look at the employees who really make it all happen - the ones at the bottom. Value the ones who are really trying, who are dedicated to getting it right. Value their strengths and give them the time and training needed to do the job right. Short term fixes cause more short term employees. Turn over is costly; and so is a bad reputation.

    Doesn't Recommend
    No opinion of CEO
  6.  

    wilshire works

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Workout Officer in Portland, OR
    Current Employee - Workout Officer in Portland, OR

    I have been working at Wilshire Credit Corporation

    Pros

    There is a frenetic environment filled with can-do people at Wilshire. The compensation is acceptable and the benefits are generous. They treat there employees well.

    Cons

    The productivity demands are enormous. There is an extraordinary amount of information to know and the changes to processes and procedures are daily. The training of new employees is lax.

    Advice to ManagementAdvice

    The can-do attitude is great but the desire to respond to a given problem often appears reactionary and poorly thought out. Jay Memmot inspires terrific confidence as the CEO. He is the smartest person in every room and is sincere in his personal investment with Wilshire.

    Recommends
    No opinion of CEO
  7.  

    Find a different company.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Portland, OR
    Former Employee - Anonymous Employee in Portland, OR

    I worked at Wilshire Credit Corporation

    Pros

    Can't think of anything. Better than McDonalds? Good name recognition in the financial services industry.

    Cons

    Cold, uncaring, arrogant management. Unless you are in the NY office, you are nothing and treated like the ugly stepchild. Funding for projects, much needed employees and resources, etc was not provided and they were content to let us struggle, with people working overtime as standard procedure. Management lacked vision and were constantly fighting fires without a commitment to a long-term strategy to improve it. They have problems retaining employees and yet won't approve replacement positions -- making a bad situation worse.

    Advice to ManagementAdvice

    Have a heart.

    Doesn't Recommend
    Disapproves of CEO
  8.  

    Pitfalls for working at Wilshire

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Special Servicing Asset Manager in Beaverton, OR
    Current Employee - Special Servicing Asset Manager in Beaverton, OR

    I have been working at Wilshire Credit Corporation

    Pros

    Owned by parent company Merrill Lynch, which provides great benefits.

    Cons

    Managment is ineffective. Also pay and bonus pay is not related to performance. Technology is very poor and people in management fail to grasp even basic MS Excel use. People seem to be hired based on who they know as opposed to what they know. There is little oversight in professional integrity involved in loan servicing and loss mitigation departments.

    Advice to ManagementAdvice

    They need to take a hard look at the type of people that are hired. Better training needs to be a priority. Underwriting integrity of LWO deals is practially non-existant, which could lead to legal trouble if something were to go wrong.

    Doesn't Recommend
  9.  

    I enjoyed working directly with the leadership team.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - CIO
    Current Employee - CIO

    I have been working at Wilshire Credit Corporation

    Pros

    Location to vicinity, Extremely friendly and professional staff. Exceptional leadership.

    Cons

    Direction came from two different sources. Parent company and local leadership.

    Advice to ManagementAdvice

    Provide filtering from Parent company discrepencies in direction.

    Recommends
    No opinion of CEO

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