Federal Reserve Bank of Cleveland Reviews | Glassdoor

Federal Reserve Bank of Cleveland Reviews

Updated October 28, 2018
53 reviews

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3.4
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Federal Reserve Bank of Cleveland President/CEO Loretta J. Mester
Loretta J. Mester
16 Ratings

53 Employee Reviews

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Pros
  • "The company is very dedicated to work/life balance" (in 8 reviews)

  • "Very good internship program, lots of professional development opportunities and great networking" (in 3 reviews)

Cons
  • "Decision making is slow and there are no central authorities to coordinate between different groups" (in 4 reviews)

More Pros and Cons

  1. Helpful (1)

    "Excellent place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Supervisor in Cincinnati, OH
    Former Employee - Operations Supervisor in Cincinnati, OH
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Cleveland full-time (More than 5 years)

    Pros

    Excellent pay and benefits. Great management team.

    Cons

    There weren't any cons at the Federal Reserve Bank.

    Advice to Management

    Keep up the good work!


  2. "Analyst"

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

    I have been working at Federal Reserve Bank of Cleveland full-time

    Pros

    Great place to work, very good benefits and potential for growth. Number of sources for training and development

    Cons

    Some work can require a lot of documentation

  3. Helpful (1)

    "Horrible."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Law Enforcement Officer in Cleveland, OH
    Former Employee - Law Enforcement Officer in Cleveland, OH
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Cleveland full-time (More than 5 years)

    Pros

    It's a foot in the door for Police experience, however the accreditation is worthless for either state or federal commissions.

    Cons

    Punitive call off policies. Rolling calender used for sick time. Incompetent, nepotistic management. Corporate policy of passing the buck and circling the wagons. Low pay.

    Advice to Management

    Get rid of LEU management, listen to the data from your climate surveys. Knowledgeable oversight of you LEU.


  4. "Good work/life balance but decision making is slow"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Examiner in Cleveland, OH
    Current Employee - Senior Examiner in Cleveland, OH

    I have been working at Federal Reserve Bank of Cleveland full-time (More than 10 years)

    Pros

    The company is very dedicated to work/life balance. Flexible schedules are available. I currently work at home most of the time.

    Cons

    Decision making is very slow and onerous. Although it is a good place to work if you are risk adverse, I would not recommend if you are very ambitious and are looking to move through the ranks quickly. Innovation is not rewarded.


  5. "Office Politics"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Examiner in Cleveland, OH
    Former Employee - Bank Examiner in Cleveland, OH
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Cleveland full-time (More than 3 years)

    Pros

    Benefits
    Good middle management
    Good team environment

    Cons

    Office Politics
    Sr management does not have a clue
    Travel

    Advice to Management

    Every organization has office politics, however; FRB Cleveland is on another level. You better nod your head and keep your mouth closed.


  6. Helpful (1)

    "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director in Cleveland, OH
    Former Employee - Director in Cleveland, OH
    Recommends

    I worked at Federal Reserve Bank of Cleveland full-time (More than 3 years)

    Pros

    Excellent amenities, benefits and work environment. Great employee development opportunities.

    Cons

    Decision making is sometimes slow because of low risk tolerance in the work.

    Advice to Management

    Continue to focus on employee engagement and developent


  7. Helpful (1)

    "Cash Department"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Cash in Cleveland, OH
    Former Employee - Cash in Cleveland, OH
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Cleveland (More than a year)

    Pros

    Great people who are always willing to help and guide you in the right direction.

    Cons

    Work isn't to enticing, however you learn about the enigma of the fed.

  8. Helpful (1)

    "FRB Cleveland is a Great Place to Work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Cleveland, OH
    Current Employee - Manager in Cleveland, OH
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Cleveland full-time (More than 10 years)

    Pros

    I have worked here for 10+ years and have found numerous opportunities to grow and advance my career. If you are someone who owns their career management you can go as far as you want here.

    Cons

    At times the organization may be slow to make a decision.

    Advice to Management

    Continue to create leadership opportunities and experiences for all employees, with an emphasis on high-potentials. Continue to hold people accountable.


  9. Helpful (2)

    "Assistant Vice President"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Federal Reserve Bank of Cleveland full-time (More than 3 years)

    Pros

    benefits, 401-k, portable pension, vacation

    Cons

    regressive, group think, behind the times

    Advice to Management

    concentrate on improving diversity of thought instead of just looking diverse


  10. Helpful (5)

    "Success depends on manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Cleveland full-time (More than 8 years)

    Pros

    The benefits are top-notch, and while the culture is unique and takes some getting used to, this is a friendly place to work overall. Coworkers/peers are the bank's saving grace: truly a bunch of amazing, supportive people overall.

    Cons

    Happiness and success are wholly dependent on one's manager. Abusive managers are often rewarded in this environment, especially if they play politics with officers, to the detriment of the entire bank. There's a real tendency to grasp at any power. Employees have been departing in droves all over the bank, either being fired for minor infractions or because their jobs are downsized or quitting because they can't take management's abuse. Some managers live the values, but others talk about work-life balance while sucking any joy from the job and penalizing people for requesting any flexibility. Opportunities for advancement are very few and far between. People often excel for years in the same position only to get a lateral move rather than a promotion. Raises are scant regardless of annual review status.

    Advice to Management

    Stop giving lip service to "innovation" while digging your nails and heels into tradition for the sake of tradition. Let your employees do their jobs, especially if they've been doing their jobs competently for years.


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