Financial Ombudsman Service Reviews | Glassdoor

Financial Ombudsman Service Reviews

Updated Sep 15, 2019

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Found 498 reviews

2.1
StarStarStarStarStar
Rating TrendsRating Trends
18%
Recommend to a Friend
12%
Approve of CEO
Financial Ombudsman Service CEO  Caroline Wayman  (no image)
Caroline Wayman
315 Ratings
Pros
  • "Great colleagues to work with and good benefits(in 62 reviews)

  • "Employee benefits (especially maternity and pension) are good and I value the flexible working option which really helps parents(in 61 reviews)

Cons
  • "Senior management constantly trying to reinvent the wheel(in 81 reviews)

  • "adjudicators works under constant fear and pressure(in 76 reviews)

More Pros and Cons
  1. Helpful (8)

    "Working at the Financial Ombudsman"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Ombudsman 
    Recommends
    Neutral Outlook

    I have been working at Financial Ombudsman Service full-time for more than 5 years

    Pros

    Good work life balance. Rarely needed to work over time. Comprehensive training and good opportunities for personal growth. Management are open to honest conversations. Benefits are very good.

    Cons

    Pay needs to be more competitive - and restructure means that individuals will be expected to take on more responsibility going forward.

    Continue reading
    Financial Ombudsman Service2016-10-12
  2. Helpful (41)

    "Time for the Phoenix to combust...."

    StarStarStarStarStar
    Current Employee - Ombudsman Manager 

    I have been working at Financial Ombudsman Service full-time

    Pros

    There are a huge amount of positive things about working at FOS. I've chosen to stay for the culture; the people; the variety of work; the job satisfaction; the challenges; the work/life balance, and so on. But my review today is with the sole purpose of highlighting one huge con.

    Cons

    Phoenix. Phoenix, the new operating system that has been years in the making, is simply ruining any enjoyment anyone (who works live cases) had for their job. It was delayed repeatedly because it wasn't fit for purpose. And I just don't think it's fit for purpose now. Taking aside those that have been tasked with Phoenix propaganda, you'd be hard pushed to find someone who thinks their working life has been improved by its arrival. Businesses are finding us to be slower (and are actually asking us if we're alright); consumers are telling us they don't have time to set up cases because it takes so long; our investigators are doing anything they can to avoid having to set up new cases; people are refusing overtime that involves Phoenix because it's just too painful to contend with. It's hugely counterintuitive and we're going to miss really important things; like spotting when something has gone wrong on a case. We're also seemingly sending emails into a black hole. And the issues aren't being publicised because there's only so much negative internal press Phoenix can take. The list goes on and on. There's support, there's training, there are floor-walkers.... everyone is doing their best to force this bird-shaped peg into a Clipper-shaped hole. Our organisation has had an issue with morale... let's not pretend the reviews for the past two years haven't happened. Do you know what would be the biggest morale boost right now? Binning Phoenix. We talk about how it's our prerogative to change our minds right up until a final decision goes out. Well.... no final decision has gone out here. We can unwind this. I really debated whether there was a better forum for voicing this. But, given the amount of money that's been spent, I don't think the organisation would take too kindly to little old me voicing my opinions in a polite email. If there are benefits that I haven't seen yet, fine. I'll keep trying to use it anyway and maybe they'll one day become apparent. But your best people aren't happy. The most positive and hardworking investigators aren't happy. The money has been spent but don't make it cost even more by losing them.

    Continue reading
    Financial Ombudsman Service2019-08-04
  3. Helpful (5)

    "lost it’s way"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Team Manager in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time for more than 5 years

    Pros

    Some great people (not at exec level), decent benefits, good location.

    Cons

    Poor change management, atrocious regard for employees (both in the ‘new world’ and not

    Continue reading
    Financial Ombudsman Service2019-09-15
  4. Helpful (2)

    "Great colleagues, not enough career opportunities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Adjudicator in London, England
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Financial Ombudsman Service full-time for more than 5 years

    Pros

    The colleagues are all friendly and fun to work with.

    Cons

    Bad decisions have been made about the structure of the organisation. There are no longer specialists in a particular area - everyone is now a generalist without the necessary experience. The pay is low compared to other employers in the area.

    Financial Ombudsman Service2019-09-14
  5. Helpful (1)

    "Good Place to Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Adjudicator in London, England
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Financial Ombudsman Service full-time for more than 3 years

    Pros

    Open offices, subsidised food, great location

    Cons

    A lot of pressure at times, a lot of changes in terms of switching between teams and departments and so on

    Financial Ombudsman Service2019-09-12
  6. Helpful (15)

    "Mis sold Phoenix system"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Adjudicator 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time for more than a year

    Pros

    Majority of people are great people and down to earth.

    Cons

    The new system Phoenix they have implemented is not fit for purpose nor is benefiting the general public in anyway by making massive backlogs in dealing with complaints being handled..

    Continue reading
    Financial Ombudsman Service2019-09-06
  7. Helpful (16)

    "Carefully weigh the risks and rewards"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Adjudicator in London, England
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Financial Ombudsman Service full-time for more than 10 years

    Pros

    Location and people. More diversity than you'd find in most firms in the sector.

    Cons

    Inconsistencies in the implementation of good practice towards staff and the public across this huge bureaucracy. A new employee might find themselves in a team where the need to meet targets doesn't undermine fairness in complaint handling and respect for the individual (my experience most of the time) or experience the distress and lack of support evident from the largely negative reviews. Even in the best scenario, given the fluctuations in the service's needs, it would be prudent to devise an exit strategy from the outset and get as many professional qualifications as possible, notwithstanding the the challenge of long hours. Your future employability may depend on you having a wider grasp of the regulatory environment.

    Continue reading
    Financial Ombudsman Service2019-09-02
  8. Helpful (4)

    "Good company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - IT Support Analyst in London, England
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Financial Ombudsman Service full-time for more than a year

    Pros

    The pay was really good for the work

    Cons

    Management act as if they are in a hierarchy. If you're a junior a senior will just bring you down and make you feel bad.

    Financial Ombudsman Service2019-08-19
  9. Helpful (8)

    "Not so bad Could be worse"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investigator 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time

    Pros

    Benefits package Challenging work Location

    Cons

    Investigator pay scale should be considerably higher and closer to the ombudsman manager pay considering the volume of work expected Flexible working can be better especially working from home. Demanding that parents must have childcare in place before working from home defeats the whole point of requesting to work remotely. Other organizations allow staff to work from home as it helps with the extortionate costs. So far as the job is done well you that all Very slow career progression and development

    Financial Ombudsman Service2019-08-14
  10. Helpful (20)

    "started to go downhill"

    StarStarStarStarStar
    Former Employee - Team Manager 

    I worked at Financial Ombudsman Service full-time for more than 3 years

    Pros

    was a highly respected organisation which prided itself an being experts in individual fields of financial services. was balanced and fair in it approach

    Cons

    started to shift away from principles to be more focused on quantity instead of quality. organisation change not managed well. lack of communication. promotions for those within limited experience of senior management roles and jobs all round for the 'old boys'

    Financial Ombudsman Service2019-07-18
Found 498 reviews