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IFDS Reviews

Updated February 13, 2018
226 reviews

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2.7
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Katherine MacMillan
36 Ratings

226 Employee Reviews

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Pros
Cons
  • Senior management expect a lot from their staff without giving a lot (in 24 reviews)

  • work life balance struggle and a lot of backbiting (in 10 reviews)

More Pros and Cons

  1. "CRM"

    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 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


  2. Helpful (3)

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

    StarStarStarStarStar
    • 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.

  3. "Technical Writer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technical Writer in Toronto, ON (Canada)
    Former Employee - Technical Writer in Toronto, ON (Canada)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at IFDS full-time (More than 8 years)

    Pros

    Wonderful people to work with

    Cons

    Sensing challenges in moves into international role


  4. "Project Manager"

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

    I worked at IFDS full-time

    Pros

    A good local company, offer great career progression opportunities to hard working employees

    Cons

    I enjoyed my time at IFDS but it didn't offer the same challenges and working environment of London. While the pay is good for outside of London there was more opportunities and earning potential in London.


  5. Helpful (2)

    "Project Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at IFDS full-time (More than a year)

    Pros

    It's a pay cheque to survive

    Cons

    Toxic environment and blame game does not promote free thinking. Senior management is a dictatorship and does not want to be challenged. Would not recommend this organization

    Advice to Management

    Value good work ethic instead of of keeping and promoting yes people


  6. Helpful (1)

    "AVOID"

    StarStarStarStarStar
    Former Employee - Senior IT Consultant - Quality Management in Toronto, ON (Canada)
    Former Employee - Senior IT Consultant - Quality Management in Toronto, ON (Canada)

    I worked at IFDS (More than a year)

    Pros

    Great projects. Very challenging and high profile. Met extremely talented people and proud about the respect of my colleagues because we delivered tough projects successfully

    Cons

    1. The management structure within the department is constantly changing and after the new managers are brought in they rush to “re- define the roles” on the team overnight without any “ground rules” being established. This contributed negatively to both the trust and common-focus of the team building.

    2. Ongoing political agitation and a lot of micromanagement

    3. “Working in isolation” mindset and lack of open communication which impacts the progress of the work and delays resolving of the issues. In an attempt to open communication, there was very common to see the high resistance. Work in workshops and focus group meetings are not encouraged that leads to inefficiency, lack of cohesion within teams, and adds rework.

    4. It’s been challenging to stop spending money and time on redundant work due to late re- assignments that these re- assignments needed full re-planning to watch cost more carefully

    Advice to Management

    Above all, to get most out of people, you need to change your management style and believe that people are Self-led, Motivated by Appreciation, and Capable ( that is McGregor’ Theory Y). Moreover to excel, the managers and leaders need to act as an example so the effort is not diminished and the engagement is not decreasing ….. start using more good judgement. ...

    IFDS Response

    Jan 15, 2018 – HR Program Manager

    At IFDS, we value the feedback of all employees – past and present. Thank you for submitting yours. We appreciate that an organization is only as good as the people who are tasked with its... More


  7. "Demoralising"

    StarStarStarStarStar
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Transfer Agent in Dublin, Co. Dublin (Ireland)
    Former Employee - Transfer Agent in Dublin, Co. Dublin (Ireland)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at IFDS full-time (More than a year)

    Pros

    Good Benefits (health Insurance, tax saver, bonus, etc)
    Good Work Environment
    Accessible location

    Cons

    Lots of Overtime
    Systems
    Processes
    Very hard to book holidays
    Knowledge gaps leading to dissatisfied clients
    no work life balance
    High employee turnover

    Advice to Management

    For those of you who don't know IFDS is a company owned by State Street so they will follow all procedures that SS follow.

    It seems that IFDS are doing everything to keep employee's by offering loads of benefits and pay rises, etc. They do not appear to facing the problem at it's core which it their consistently failing IT systems and backward processes. If senior management took the time to take a step back and look at the big picture they will we that this is where their problems lie and instead of building on top of these to try and improve them they need to scrap what they are doing and start all over again or they will continue to fail their clients and see huge turnover in employees.

  8. "One of the worst companies to work for in Luxembourg"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Luxembourg (Luxembourg)
    Former Employee - Anonymous Employee in Luxembourg (Luxembourg)
    Doesn't Recommend
    Negative Outlook

    I worked at IFDS full-time (More than a year)

    Pros

    If you are a former employee of State Street Bank you keep your old salary package which is much higher than what IFDSL offers and this is probably the only good thing.

    Cons

    Lack of professionalism of most of the staff.
    Employees are only impressed by their levels; most of them don't show real commitment and willingness to improve the work.
    Bullying and harassment, poor management and negative culture. If you report it to HR you are seen as trouble-maker.
    Probably the only company in finance where risk managers are a former tour guide and a theology graduate.
    Everything is taken personally and it's always a matter of ego before results or resolving issues.
    Very high turnover because qualified and professional employees have no will to stay underpaid and put- down.
    And there is a lot more to say...I am happy about not having to go back there again. It felt like being in prison !

    Advice to Management

    Don't hire the cheapest people ! Find the most professional ones !


  9. "Senior Management is a joke"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    No opinion of CEO

    I worked at IFDS full-time (More than 5 years)

    Pros

    Employees I worked with were great, we always look for improvement and look for challenge in new technology. A lot of good people with good vision.

    Cons

    Senior management is absolute a joke. If they want to help their friends, they will just create a new position which is not necessary so they can have puppet to control. They recently make redundant with senior manager , telling everyone to keep quite about it. For over 10 years of services, no thank you just vanish! They are very tricky about how they charge clients and projects they just swap things around for fun.

    Many senior managers get promoted but they have no idea what they are doing , lower position has to tell them what is going on and telling them what to do ( This is because they are not selected by experiences but they selected by how close they are with the senior management ) If you are pals to them, you will be fine concepts

    Bully tactics - If you are against the senior management , they make sure your life at work is difficult. and if you start report this to HR, your secret won't save because they are friends! whatever you said, if will come back to bite you.

    Advice to Management

    Hope the new DST management will have a better vision, find out , investigate into lower level and see what is actually going on. Why the company is going down. A lot of messages haven't been delivered. The communication gets lost along the way.


  10. "CSM"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at IFDS full-time

    Pros

    Number one in the market, lots of new business coming in. Great colleagues.

    Cons

    Very political Environment. High pressure. Low bonusses. Bad communication from Senior Management.

    Advice to Management

    Listen more to Feedback from employees.


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