MLC Reviews | Glassdoor

MLC Reviews

Updated August 25, 2017
11 reviews

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11 Employee Reviews

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  1. "Growing company with many downsides."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in North Sydney (Australia)
    Current Employee - Analyst in North Sydney (Australia)
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    - Expanding company with much growth potential

    Cons

    - Uninteresting work, most work is BAU
    - Project work is not very well managed
    - Management is soso
    - Lack of communication between key teams


  2. Helpful (1)

    "No support whatsover"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in North Sydney (Australia)
    Current Employee - Anonymous Employee in North Sydney (Australia)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Flexible hours if you're on the manager's good book.

    Cons

    HR support nonexistent, don't expect any support if you suffer any kind of bullying or harassment from your manager/team leader or HR.
    Long hours to achieve your deadlines but no OT is paid.
    Revolving door with staff in and out - there must be a reason why people won't stay long!

    Advice to Management

    Review workplace conduct, poor work environment only creates transient and non performing staff.

  3. Helpful (2)

    "Not the greatest environment to work at"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Sydney (Australia)
    Former Employee - Manager in Sydney (Australia)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Flexibility. Work/life balance. There is no other positives unfortunately that I can add

    Cons

    Redundant technology. Low morale. No investment in people. Poor feedback/appraisal process. People not open to change. Poor new starters process.

    Advice to Management

    Invest in people to increase morale. Replace people that have been there too long with people open to change.


  4. "Balanced view"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Consultant in North Sydney (Australia)
    Current Employee - Senior Consultant in North Sydney (Australia)

    Pros

    Great work life balance. Everyone leaves at 5 including management so there is no feeling of guilt if you pack up. Great location in North Sydney. Flexible working arrangements with ability to work from home. A lot of fantastic BAs and contractors and some great permanent staff with huge amount of knowledge.

    Cons

    No investment in technology, systems and processes.
    Bandaid solutions and manual workarounds which has resulted in many regulatory breaches.
    Management (Head Of level) seem to stifle people's career development and play politics. There is no career growth. HOs also very defensive when issues/breaches are highlighted to them. Instead of working together to address issues/resolve, they will attack you/are quick to point the finger/play the blame game.
    Very conservative culture particularly with staff/HOs who have been with the company for a while.
    Described as NAB's long lost cousin which is an accurate representation. NAB tries to instill a "one way same way approach" which clearly does not work.

    Advice to Management

    Invest in technology, systems, staff and resources.
    Promote career development and recognise your staff. Provide more opportunities for career growth and mentor staff
    Be a leader and team player and work to RESOLVE issues rather than point the finger.


  5. "Actuarial analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Actuarial Analyst in Sydney (Australia)
    Former Employee - Actuarial Analyst in Sydney (Australia)

    I worked at MLC (More than a year)

    Pros

    Good career opportunities to rotate to different business function

    Cons

    low salary, limited promotion, old thinking way of managing people, and sometimes this way of managing can be very stressful and upsetting people

    Advice to Management

    Engaged experience worker, don't outsource key function because you think It is assess on merit.


  6. "WRAP Product"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - WDS WRAP Consultant in Melbourne (Australia)
    Current Employee - WDS WRAP Consultant in Melbourne (Australia)
    Doesn't Recommend
    Negative Outlook

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

    Pros

    People focused work environment, great work life focus, easy access to personal support.

    Cons

    Lack of understanding from management of how the product and processes work, No focus on capability building educating the consultants on the floor, All reporting is sewed to paint a picture up the reporting chain, Hiring anyone with customer service experience and expecting them to service a complex financial product, Administration that lacks a holistic view of the business resulting in a overlapping and disjointed customer service experience.

    Advice to Management

    Look to leading providers in the market and tailor the offering to match, customer service starts with product and process understanding and is finished with pleasantness on the phone, this is not personal banking were anyone can do the job please look for professional experience and a financial product servicing background.


  7. "The exciting opportunities are mostly Melbourne based."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technology Lead in North Sydney, NS (Canada)
    Current Employee - Technology Lead in North Sydney, NS (Canada)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Work from home / flexible hours

    Onsite child care (long waiting list though)

    Some strong leaders among the pack

    Cons

    Mainframe technology and a website that's barely functional. No mobile app!

    Thirty years of bandaid fixes and manual workarounds with our technology makes implementing change a game of jenga.

    105 Miller is overcrowded. Good luck finding an available meeting room. If I arrive later than 9:15am I'll miss out on a flexi-desk and have to sit in the naughty corner on another floor away from my team.

    The culture has been going downhill ever since the AVIVA integration a few years back.

    Most large projects are delivered 10 years too late. MLC only recently moved their banking from Westpac to nab (nab bought MLC in 2000).

    Dealing with the offshore technology Help Desk can cause chest pains.

    Advice to Management

    Focus on innovation in one area rather than playing catch up with with the rest of the industry.

  8. "Laidback lifestyle but not particularly challenging"

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

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

    Pros

    Business hours only, laidback lifestyle, some good people at junior level

    Cons

    Limited growth opportunities, poor leadership, losing market share in growing industry

    Advice to Management

    Be open and transparent in your communication


  9. Helpful (1)

    "Proud history, bleak future as it is no longer a force in the industry"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager
    Current Employee - Project Manager
    Doesn't Recommend
    Negative Outlook

    I have been working at MLC full-time

    Pros

    Relaxed working conditions - A lot of people work from home, or flexi work
    Heart of North Sydney, office ambiance not bad
    Good decent people

    Cons

    Stale and unexciting projects, most of it is regulatory
    Out of date technology, as MLC competitors (Colonial, BT, AMP) have invested in technology over the last few years and given them an advantage over MLC. MLC doesn't even have a mobile app!!!
    The Project , Change Management and Business Analyst communities have high concentration of contractors (70% of workforce) and this leads to a high turn over rate and knowledge drain
    Bureaucratic red tape in technology space which leads to frustration and people are not willing to adapt to change.

    Advice to Management

    In order to get MLC to be a genuine competitor in the market place, it needs to go through a serious transformation to be more customer centric, technology agile (MLC doesnt even have a mobile app). The current management get that, however I believe they doesn't know how to execute transformation change. The added complexity is being a relatively small profit centre of NAB, it may not warrant the time invested by CEO and Board as they have other priorities (exit from UK)


  10. "Accountant"

    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

    Pros

    Great company values. Unfortunately few people live up to values.

    Cons

    Role was too routine and little scope for growth and development.
    New ideas were treated as a challenge.

    Advice to Management

    Live the values you preach.


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