Flagstar Bank - Get to work with newer technology | Glassdoor
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Helpful (1)

"Get to work with newer technology"

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Software Developer in Troy, MI
Current Employee - Software Developer in Troy, MI
Recommends
No opinion of CEO

Pros

Willingness to move onto new technologies, REST SOA type approaches.
Independence and autonomy can be nice, so long as you get good work done in the end.

Cons

Management Change-Over a couple of years ago, and being owned by venture capitalist means a sale of the bank to a bigger bank is likely and the inevitable shakeup that will cause has caused a brain drain of experienced knowledgeable employees, this can be viewed as more opportunity for new people joining the organization to fill such openings.

Advice to Management

Try and capitalize on the unique aspects of Flagstar, make sure those unique aspects are not crushed as we try and move into other areas. The concern is we will be just like all other banks, differentiated in the marketplace. Keep up with the superior customer service.

Other Employee Reviews for Flagstar Bank

  1. Helpful (1)

    "OK place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI
    No opinion of CEO

    Pros

    - Used to have a pretty good management trainee rotation program, but I heard it has since been discountinued.
    - Generally friendly people to work with
    - There was not a strong expectation to work more than 40 hours in my area

    Cons

    - The banking industry can be depressing to work in especially when I was there in 2008 and watched an entire department get cut
    - Some significant silos were in certain departments (from the top down)
    - Pay didn't seem that competitive, although the economy was partially at fault because I worked there 2006-2009 and salaries were frozen

    Advice to Management

    I was there during the worst crisis in 70 years and unfortunately Flagstar did not get through it well. The capital infusions from both TARP and Matlin Patterson diluted the shares significantly and when I left the company was in shambles. Mark Hammond is a very smart guy and appeared to be a great economist, but he really didn't see this crisis coming.

    It appears the current CEO is trying to make things better by diversifying, but I think he is going about it in the wrong way. Just because the CEO has contacts in the Northeast does not make it a good strategy since Flagstar had no existing footprint there. Taking one failed strategy at Soverign and making it a strategy at Flagstar while continuing to bleed cash seems like a very bad short term outcome for all of your shareholders. I wish FBC the best, but I have extreme doubts that any shareholder will get even half of their initial investment (MP included).

    One last point to the current CEO, stop blaming "legacy" on everything in your conference calls. You have been there for over 2 years, it is now your responsibility.


  2. "Not a great place to work as they claim to be."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Post Closing Associate in Troy, MI
    Former Employee - Post Closing Associate in Troy, MI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    People
    Time off
    Loyal Employees
    Hard working Employees

    Cons

    Pay
    Not promoting people, hard to move to a different department

    Advice to Management

    Treat employees well and with respect. Management not fair most of the time to employees.

There are newer employer reviews for Flagstar Bank
There are newer employer reviews for Flagstar Bank

See Most Recent

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