Sovereign Bancorp Branch Manager Reviews | Glassdoor

Sovereign Bancorp Branch Manager Reviews

20 reviews

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Branch Manager

1.6
Star Star Star Star Star
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Sovereign Bancorp President & CEO Jorge Moran
Jorge Moran
6 Ratings

Employee Reviews

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Pros
  • Good work/life balance with significant paid time off and the option to buy-back additional days (in 12 reviews)

  • Good co-workers, flexible schedule, choice of locations (in 3 reviews)

Cons
More Pros and Cons

  1. Helpful (1)

    "Sovereign"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Branch Manager in Brooklyn, NY
    Former Employee - Assistant Branch Manager in Brooklyn, NY
    Doesn't Recommend
    Negative Outlook

    Pros

    They have a growing international brand and increasing technological advances. Sovereign branches are staffed with various layers of management to ensure that day to day operations are smooth and that tasks are appropriately allocated and executed.

    Cons

    With the growing international brand, there is a struggle with identity and direction of the company. Horrible disconnect between regions. Customer service is difficult between the NY/NJ branches and MA/RI branches since the systems are not connected.

    Advice to Management

    Unification of the brand is really needed because in order for the brand to succeed and expand, the company has to move in one collective direction and not in many different ways as it currently is.


  2. Helpful (3)

    "Insane micromanagement. Widget driven bank"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in New York, NY
    Former Employee - Branch Manager in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Salary, salary, salary, salary...I just needed at least 5 words for PROs box. It's not even that great. It's just much better than what I was getting at Wells.

    Cons

    3-4 Conference calls a day if you are a Branch Manager
    3 Trackers to submit
    Managers have individual production goals
    HORRIBLE SYSTEM
    HORRIBLE BACKOFFICE SUPPORT
    Call Nights
    Supplemental Call Nights
    Useless "De-brief Calls"

    Advice to Management

    You want to be a great bank and compete with big boys like Chase, BofA, Wells and Citi? Why don't you invest a couple of bucks into TECHNOLOGY? How do you except to sell a credit card or a mortgage if your customer service reps chew on potato chips when you call and have no clue what to do because of lack of training provided? Stop hiring just anyone and START worrying about your top talent. SUPPORT those that make you shine, do not punish them.


  3. Helpful (1)

    "Branch Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Boston, MA
    Current Employee - Branch Manager in Boston, MA
    Recommends
    Approves of CEO

    I have been working at Sovereign Bancorp full-time (More than 8 years)

    Pros

    Great Relationships with the other Branch Managers. Opportunity to advance with the company. Decent Benefit Plan - On par with other Commercial Banks. Overall a good company to work for.

    Cons

    Stressful Sales Pressure - Increased when Santander purchased Sovereign Bank. The computer system very much slowed down the account opening and sales process.

    Advice to Management

    None at this time.


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  5. Helpful (2)

    "Dont get taken advantage of"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Operations Manager in Boston, MA
    Former Employee - Branch Operations Manager in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Star employees keep this company running. Make good friends with them as you will most likely see them in higher positions in other banks very soon.

    Cons

    Lack of training, constantly understaffed, non-existent back office/support team, lack of strong leadership, disrespectful sales strategies.

    Advice to Management

    Share with market directors that lack of staffing does not mean that you continue employing employees who actively do not want to work here. Conversely do not allow being short staffed get in the way of taking care of good and long tenured employees. Basically get your act together and understand that staff are the face of your company. Currently that is of an overworked, under trained and overwhelmed workforce with a constantly changing chain of command and pay structure.


  6. Helpful (2)

    "don't do it"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Operations Manager in Bloomfield, NJ
    Current Employee - Branch Operations Manager in Bloomfield, NJ
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    you learn alot. meet great customers

    Cons

    once you do, they'll move you whether you like it or not. they don't care about you or your feelings

    Advice to Management

    care about your employees feelings


  7. Helpful (1)

    "na"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Newark, NJ
    Current Employee - Branch Manager in Newark, NJ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Its a job.
    A good way to learn banking

    Cons

    To much pressure
    Low Pay.
    Would rather hire from outside

    Advice to Management

    Less pressure..


  8. Helpful (4)

    "Wow, a stress machine with no reward!! Stay Away!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Staten Island, NY
    Current Employee - Branch Manager in Staten Island, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Paid Time Off
    Benefits
    Top Performer Awards (Good luck getting this LOL)

    Cons

    6 days a week work
    Conference Calls
    90 emails a day
    unrealistic goals for a Bank with no technology
    99% Chiefs 1% Indians
    Feel like your a slave every day

    Advice to Management

    Stop trying to be like Chase or a real global commercial Bank because you dont have the tools to do it (MS DOS based systems), people hate where they work and cry at time. Stay Away does not matter if they pay you six figures!


  9. Helpful (1)

    "Chicken with their heads cut off!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Boston, MA
    Former Employee - Branch Manager in Boston, MA
    Doesn't Recommend
    No opinion of CEO

    Pros

    OK Benifits (Health, medical, 401k match, etc)

    Cons

    Poor management (MICRO!!)
    REPORTS REPORTS REPORTS
    CONF CALLS!!!!! Way too many. How are we supposed to run business when we have mandatory calls constantly. I almost felt I would get a call on my day's off, just to check in! (obv. kidding there) but you get the point.

    Advice to Management

    Try to get a better understanding of how to relate with consumers and realize we are not in Spain. US is a consumer world, unlike the culture in other countries. I also suggest you empower employees (i.e. managers) more so they can make the decisions that we were hired to do. Hire competent management and DE's rather than spending so much money on STARR program to micromanage and interfere with how people bring results. Everyone has their own way of being successful, you can't have one standard for each individual and each branch, regardless of their location etc. Spend the money on new technology and resources.


  10. Helpful (1)

    "Run from this employer"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in State College, PA
    Former Employee - Branch Manager in State College, PA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great entry pay and incentive if your branch has the staffing in place. Otherwise you will not be paid for all the call nights, outside cold caling efforts.

    Cons

    Long hours, changing focus on a daily basis, everything a crisis and a deadline, low staffing levels on purpose to maximize profits without regard to customer service or goals or branch safety and security, the way it is done world wide. Berated on daily calls if you are behind in a single category even though you may be ahead in all other categories. Call nights, two per week if not at goal for that weeks focus, weekly cold calls to business, non responsive to ideas/ solutions to problems. Complaints in the local paper about sovereigns treatment of long term employees, one third of staff quit or fired in the last year, as shown by another posters interview question below.

    Advice to Management

    This would be a great job if staffing levels were maintained and floating backups were also hired, and the management took a more positive, proactive approach to "motivation" instead of being so negative and punitive in their daily and weekly calls. If job seekers want a positive customer and employee focused bank they should look elsewhere.


  11. Helpful (2)

    "The people that do the most work, lower level, are treated the worst while upper management gets all the praise."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Operations Manager in Wyndmoor, PA
    Current Employee - Branch Operations Manager in Wyndmoor, PA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The close-knit and supportive branch staff work for each other regardless of pressures put upon them from the unsupportive upper management.

    Cons

    Upper management is too focused on goals and company profits rather then the individual employees who help the company reach the organizations goals

    Advice to Management

    Stop being so short sighted by focusing on the success of the company and realize that the success of the company is based on how happy your employees are with the company they work for.