TCF Inventory Finance Reviews | Glassdoor

TCF Inventory Finance Reviews

Updated March 1, 2017
18 reviews

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3.0
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Ross Perrelli
11 Ratings

18 Employee Reviews

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  1. "So-So"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst in Schaumburg, IL
    Former Employee - Credit Analyst in Schaumburg, IL
    Doesn't Recommend
    Positive Outlook

    I worked at TCF Inventory Finance full-time (More than a year)

    Pros

    Good work life balance, nice office with gym and food offerings located in the building, monthly all employee meetings are a good way to get an idea of what the Company's goals are, and what the financials of the firm are, middle level managers are very solid

    Cons

    The atmosphere is pretty boring, high cube walls so you can't really converse with your co-workers, not sure what the upward mobility was

    Advice to Management

    Think about ways to make the workplace fun, and to reward employees for good performance


  2. Helpful (2)

    "Don't waste your time."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Records Management Associate in Schaumburg, IL
    Former Employee - Records Management Associate in Schaumburg, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at TCF Inventory Finance (More than 3 years)

    Pros

    If you're lucky, you may have the opportunity to work with some very nice people.

    Cons

    Most of the people in managerial positions are family of the CEO or their friends. There is a lot of favoritism. Raises are a joke. Benefit package is trash. No room for growth unless you're in good certain people connected to the top. Frequent layoffs.

    Advice to Management

    Take the time really analyze the hidden treasure in the company and not just family and friends


  3. Helpful (5)

    "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Schaumburg, IL
    Former Employee - Anonymous Employee in Schaumburg, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at TCF Inventory Finance full-time (More than 5 years)

    Pros

    Casual clothing provides for a comfortable working environment.

    Cons

    Very toxic cultural environment driven by nepotistic hiring practices. Way too many Senior Managers have sons and nephews on the payroll, which creates animosity among rank and file.

    Advice to Management

    Recruit outside of the family tree. Lack of diversity is preventing the Company's success.


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  5. Helpful (6)

    "Come On Guys, Seriously? Grow Up!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Schaumburg, IL
    Former Employee - Anonymous Employee in Schaumburg, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at TCF Inventory Finance full-time (More than a year)

    Pros

    There weren't many. Business casual and jeans environment. If you are a relative, you'll be fine. Location is by Woodfield Mall so it's easily accessible. There's a gym, ok sandwich place, card shop, and dry cleaners in the building.

    Cons

    TCF should take this company over. There are no company goals or standards. Audit is a joke. The culture is negative and hostile if you aren't a relative or of a certain religious persuasion. High turnover. They fire great employees to bring in relatives and college interns (probably to save money). I should have known there was a problem when I first started - they were firing the person I was replacing even though she was very intelligent and doing a great job. You could just tell they drained the life out of her. It also took them a few weeks to get me a start date so I guess they interview until they find someone, fire the person being replaced, and start the cycle over again. I saw a girl get harassed for wearing a barely noticeable Star of David by a couple people. Grow up.

    Advice to Management

    TCF needs to do something. This is ridiculous. You are losing good talent because of stupidity. Get with the times too - reserving conference rooms by writing it on a calendar at an admin desk? Seriously? How am I supposed to take you seriously when you act this way?


  6. Helpful (3)

    "A Company with potential if Management was changed"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Schaumburg, IL
    Former Employee - Anonymous Employee in Schaumburg, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at TCF Inventory Finance full-time (More than 3 years)

    Pros

    Relaxed atmosphere
    Dress code
    Work life balance

    Cons

    Excessive nepotism
    Benefits; PTO, benefits
    Lack of promotion from within

    Advice to Management

    Senior Management from the TCF bank needs to take a hard look at what is going on in the Inventory Finance business. This business has potential but not with current management. In 2014, a number of Senior Managers who assisted in starting this business have left either voluntarily or have had there positions eliminated supposedly due to costs. YET, the CEO has found high level positions for both of his sons who have no inventory finance experience along with other relatives.

    Add to this Senior Managers that have been retained that have not fulfilled any of their goals in two years, it is very discouraging.


  7. Helpful (3)

    "I was laid off, but the President just hired another relative."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Collateral & Service Inspector in Chicago, IL
    Current Employee - Collateral & Service Inspector in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at TCF Inventory Finance full-time (More than 3 years)

    Pros

    Steady income
    Company car
    Corporate credit card
    Working independently
    Some benefits

    Cons

    Too much nepotism
    Health insurance premiums have gone up each year, while coverages have decreased
    Minimal room for growth
    Minimal raises

    Advice to Management

    Get a grip on your managers. Most of them don't have a clue on how to manage, but have the positions they have because of someone they know. There is too much nepotism & favoritism. If you are going to lay people off, then don't hire your family.


  8. "I am overall satisfied with TCF Inventory Finance."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Minneapolis, MN
    Current Employee - Anonymous Employee in Minneapolis, MN
    Recommends

    Pros

    TCF Inventory Finance does a great job informing employees and keeping them in the mix of what's going on within the company. Senior management is very friendly and knowledgable which creates an enjoyable, professional atmosphere -- Their doors are always open for questions, which is very accommodating.

    Cons

    Although TCF Inventory Finance is continually growing, the room for career advancement is slim. Applying to internal positions is encouraged, but positions are limited.


  9. "One of the better companies I have worked for"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Management is willing to listen to the employees and implement changes.
    Casual work environment.
    Work from home benefits a lot of employees.

    Cons

    None. Management is working hard to retain employees and establish a good working environment.

    Advice to Management

    Keep doing what your doing.


  10. Helpful (2)

    "Account Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Manager
    Current Employee - Account Manager
    Doesn't Recommend
    Neutral Outlook

    I have been working at TCF Inventory Finance full-time (More than a year)

    Pros

    Workday hours are somewhat flexible, the morale in our office is good, colleagues are helpful, little perks like free coffee and work-related events/parties are nice and a good way to show appreciation to hard-working employees. Some departments(different locations) offer working from home a couple days per week.

    Cons

    Bonus metrics are unrealistic, sometimes taking me outside of my normal workday hours to get things completed. Being on salary of course, there is no overtime. New technology/systems get in the way of the idea that the "customer's needs come first", very lacking in pay compared to other similar jobs in the area, benefits are something to be desired. Could also use more PTO time considering vacation and sick time are all rolled into one and you are required to take a minimum half-day vacation rather than vacation by-the-hour like other companies. Other banks offer separate sick time that, as it accrues, can be a fail-safe as short term disability where as this company makes you use up all your vacation time before short-term disability kicks in. This leaving new moms with constant worry regarding maternity leave. No consideration for the other 9 months that year where they may fall ill or have an appointment with no vacation time to utilize.

    Advice to Management

    Compensation needs to be reviewed. TCF is a fairly large company and when Wells Fargo is right down the street offering $10K more per year for the same position it makes it tough to stick around, although I like my current job - most days. The training and communication is SEVERLY lacking as new procedures and system changes are integrated without most employee's knowledge or input. There should be clear black and white guidelines and rules across the company. Feedback should be required from employees in each department who use these systems and procedures on a daily basis rather than it being instilled by upper management who have never sat in our positions to know what a typical day consists of. The metrics and amount of time it takes to fulfill duties to reach bonuses has nearly become impossible if we are to put our customers needs first. We are too busy completing time-consuming and unnecessary "tasks" to meet goals. Take our monthly company-wide meetings and survey input seriously. The CEO asks for feedback and discusses the company's "employee happy survey" responses but changes for the better are rare. Senior management hiring outside of their family for upper management positions could help bring in some fresh ideas and better company values. How did Inventory Finance become run by one family anyway? Isn't that a big no-no in the world of corporate banking?


  11. "Great Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst
    Current Employee - Analyst
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at TCF Inventory Finance full-time (More than 3 years)

    Pros

    The CEO and other members of the executive team are leaders and always looking to innovate. Employees are encouraged to promote new ideas on how to do business. Good environment to work in.

    Cons

    Advancements in technology are needed throughout the company and TCF Bank. Salaries are a little lower than what other banks pay. Some employees/managers continue to look in the past.

    Advice to Management

    Continue to keep innovating and encouraging employees to generate ideas.



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