IFDS Reviews | Glassdoor

IFDS Reviews

Updated June 20, 2017
197 reviews

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Full-time Part-time

2.7
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Katherine MacMillan
27 Ratings

197 Employee Reviews

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Pros
  • Some great people, but experiences can vary depending on department/ manager (in 13 reviews)

  • New team is exceptional and promotes work / life balance (in 7 reviews)

Cons
More Pros and Cons

  1. Helpful (3)

    "A mannequin could do a better job leading this company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Developer in Toronto, OH
    Current Employee - Senior Software Developer in Toronto, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at IFDS full-time (More than 5 years)

    Pros

    Office location in downtown Toronto

    Cons

    The President needs to be put out to pasture. Her inability to inspire her team, and her complete lack of business knowlege and experience leaves the company rudderless. The turnover in the senior leadership points to her. Comments such as "I would crawl over dead bodies to get my bonus" directly attributed to the CEO clearly show the tone and calibre of her leadership. DST and State Street, if you're listening, save yourself the high cost of placing an expat in Toronto and replace this leader by a wooden mannequin. You would achieve about the same level of leadership, and probably improve your ROI.

    Advice to Management

    Replace your HR department. No one in the company respects this collection of unskilled and abrassive misfits. There are some good people working in HR, but they're drowned out by the cacophony and maliciousness of others on the team. Again, look at the HR leadership and the leadership of the company to understand why the group is the way it is.
    Consider investing money to replace the core system. iFAST is about 10 years beyond its best by date.


  2. "CRM"

    Star Star Star Star Star
    • 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 IFDS full-time

    Pros

    Great people
    Industry leaders - SME

    Cons

    Pay/ bonus could be better
    Too many managerial levels in their structure

    Advice to Management

    New management since I left


  3. "Perfect place!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Written Enquiries Client Services in Chelmsford, England (UK)
    Current Employee - Written Enquiries Client Services in Chelmsford, England (UK)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at IFDS full-time (More than 10 years)

    Pros

    You can only get what you put in and the best part is room for progression is always available. The best choice I made after graduating

    Cons

    As a third party company, certain areas such as wages are significantly affected as these are mostly depended on our clients and the relationships we have established. Other than that you will love this place!

    Advice to Management

    So far so good, keep doing what you are doing it is working 👍


  4. "Good for experience but rubbish pay"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - QA Analyst in Brentwood, England (UK)
    Former Employee - QA Analyst in Brentwood, England (UK)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Good place to build up your CV with experience on varied projects.

    Cons

    Low pay
    Management do not value employees
    High pressure
    Cliquey culture
    Antiquated IT systems
    Expensive canteen with bad food which is not even subsidised. Even coffee has to be paid for!
    Overtime and working late are frequent expectations without being properly rewarded. You have to work 5 hours extra for free before you are compensated!
    Employees are generally not trusted such as with things like working from home.
    Tall structure means lower level employees will struggle to get their voice heard and are generally ignored by senior management.

    Advice to Management

    Award your staff appropriately and recognise hard work.


  5. "Account Coordinator"

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

    I have been working at IFDS full-time

    Pros

    Good environment/ Good support
    People are always willing to help

    Cons

    Some people do not know what they are doing


  6. "working at IFDS"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Coordinator in Toronto, ON (Canada)
    Former Employee - Project Coordinator in Toronto, ON (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    welcomes new ideas and freshers

    Cons

    it has lot of complexity in working / management

    Advice to Management

    please try to improve the management style


  7. Helpful (3)

    "Could be a leading tech company, but..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Analyst in Brentwood, England (UK)
    Former Employee - IT Analyst in Brentwood, England (UK)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at IFDS full-time (More than 3 years)

    Pros

    -many different opportunities
    -interesting clients
    -large market share
    -potential career growth if you're lucky
    -used to have a good and approachable leadership team

    Cons

    -very outdated technology (Windows XP, IE8, Exchange Server 2003 ...)
    -employees forced to use insecure and outdated browsers (Chrome with disabled auto-updates more than a year old version)
    -could be a great tech company, but there's no investment into IT and tools to support people/work/projects/innovation
    -many manual processes (copy & paste deployments of live production system(!), manual testing)
    -people-heavy
    -if there's a problem -> "let's hire more project managers on contract"
    -all cash is burnt on firefighting instead of a proper, consistent and ongoing investment to the underlying infrastructure and technology
    -no collaboration or tools for it (hundreds of emails and documents (and their multiple versions) flying around)

    Advice to Management

    It's 2017, stop forcing people to use systems/software more than 10 years old or to remember 10+ different passwords (payroll, HR, training, time-keeping, rewards... etc). It's these little things too which make people unproductive and create frustration. How can you be innovative with tech/tools/processes from last decade.

    Get rid of the overpaid contractors/PMs - they do very little work and create no value.


  8. "13 reasons why (you shouldn't)"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Luxembourg (Luxembourg)
    Current Employee - Analyst in Luxembourg (Luxembourg)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at IFDS full-time (More than a year)

    Pros

    - Decent pay if negotiated well upfront
    - Close to shops
    - A/C works fairly well. Office space is acceptable, but don't be allergic to stuff
    - A few very good people work there.
    - Small bonuses. Sometimes.

    Cons

    1. The most frustrating about working at IFDS, on a day to day basis, is that it is technologically ridiculously subpar. Most applications don't work or are painfully slow, are poorly designed, and nothing can be fixed locally since the IT is Statestreet only and doesn’t want to, or know how to support IFDS applications.
    2. Everything depends on the UK, Ireland, or Canada, which means that nothing ever gets resolved durably, because despite the revenue Luxembourg is supposed to generate, other locations simply don't care about IFDS Luxembourg. Top Management in Luxembourg does not have any leverage on the other locations, and IT doesn’t fail this rule. For example, “dual screens” is a new concept here… IT is extremely disorganized in IFDS and one must be prepared to tolerate a LOT of frustrations when it comes to accesses, hardware and software here...
    3. Even the hiring process has been outsourced (you know where to). How can people so far away from European realities be qualified to recruit people in Luxembourg is beyond me.
    4. The HR in Statestreet are globally ok (although working with ancient technology, like the rest of us) but the IFDS side is just really, really bad. Leaving aside the company wide initiatives that no one cares about and that are completely meaningless in people's work lives, nothing happens in terms of employee feedback.
    5. Feedback is definitely not encouraged and when given, never produces any consequence.
    6. Corporate Training is non-existent and it's not going to get any better with the recent choices made.
    7. Top management doesn't seem to know what to do to reward or retain the highly performing employees.
    8. There is a massive clique effect happening in this company; people who have been there forever but are far from being useful or efficient, keep being rewarded whilst the others are ignored. Retention of Information is the middle name of these people; even those who do not do it on purpose.
    9. The promotion system is completely opaque and distinctly not objective, no matter how much corporate gibberish they cover it in. Again, buddies promote buddies. Hard work, competence... that doesn't matter. Play golf. High five with the alphas... You got it.
    10. There is a corporate culture close to colonial slavery. It is apparently become quite natural people to treat the teams outside of Luxembourg like “good little savages”, who pretty much have no say in how or when they work. Outsourcing is very frequent in Luxembourg companies but the way teams interact is somewhat disturbing.
    11. Petty things but that still matters to people… Parking is absolutely reserved to higher up, usually longtime employees, other arrangements are almost impossible to get for mainstream employees. Some people end up paying 20EUR of parking daily to be able to come to work. That's completely unacceptable.
    12. There is no canteen, a small lounge with vending machines that – sometimes - work.
    13. The traffic is awful on the A1 leading to Kirchberg, and bad as well from the city centre. The roadworks are permanent (tram, parking lots) and that’s here to stay for a good few years. So in terms of places to hang around near the office, forget the outdoors…

    Advice to Management

    - Stop hiring lousy managers and relying on the ”little”, conscientious people to get the job done anyway. Can't you see they're all leaving or trying to !

    - There are knowledgeable people in your ranks. Use them instead of leaving them stuck in pointless roles, and stop paying contractors thousands to do - badly - poorly led project tasks.

    - Cliques are ok in highschool. Not in a professional environment.

    - You cannot become and stay so called #1 TA in Luxembourg without investing more in technology and automation. Relying on cheap human workforce will meet its limits one day, and your competition is doing so much better than you at the moment. If you have to keep working with the UK and other locations, learn to impose yourself. IFDSL should have more of a say in how things are done best for IFDSL's clients.


  9. "Good for first career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate II in Dublin, Co. Dublin (Ireland)
    Current Employee - Associate II in Dublin, Co. Dublin (Ireland)
    Recommends

    I have been working at IFDS full-time (More than 3 years)

    Pros

    -Great people. Very helpful staff. Great atmosphere
    -Very good location
    -Good benefits

    Cons

    -Poor training
    -Very slim chances for promotion and raise
    -Very stressful. Barely have time to eat or drink
    -Poor managing

    Advice to Management

    Please appreciate people who care.


  10. Helpful (6)

    "Terrible Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Leader in Basildon, South East England, England (UK)
    Former Employee - Team Leader in Basildon, South East England, England (UK)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at IFDS (Less than a year)

    Pros

    Nice surroundings, good staff parking.

    Cons

    No training plan on arrival, disjointed, workstation not ready, required apps not installed. Other staff are to busy to train you, Apparent lack of motivation/cohesion amongst managers and staff.

    Advice to Management

    Sort out the induction process for new employees


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