TCF Inventory Finance Reviews | Glassdoor

TCF Inventory Finance Reviews

Updated October 25, 2017
21 reviews

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3.0
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Ross Perrelli
13 Ratings

21 Employee Reviews

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  1. "Ok"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Inside Sales Representative in Schaumburg, IL
    Current Employee - Inside Sales Representative in Schaumburg, IL
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Close knit group, pleasant coworkers. Fun after work events occasionally between hectic periods. Laid-back culture for the most part. Management seems to respect people who perform. Good work-life balance.

    Cons

    Few promotion opportunities. Management is often too busy to listen to concerns. Pay does not keep up with market value and bonuses are not giving regularly or transparently.

    Advice to Management

    Give middle management more time to dedicate to team development otherwise they may lose good employees in the future


  2. "Technical Architect / Developer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Schaumburg, IL
    Current Employee - Anonymous Employee in Schaumburg, IL

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

    Pros

    Small division, so family like feel. Approachable executive management that is interested in employee feedback and willing to act on it where it makes sense.
    Excellent telecommuting policy. Good work-life balance.

    Cons

    Not all processes are formally documented and at times things may seem chaotic / haphazard (but that's probably true for most organizations that are are rapidly growing).

  3. Helpful (1)

    "Account Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Analyst in Schaumburg, IL
    Current Employee - Account Analyst in Schaumburg, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Work from home, flexible hours

    Cons

    You are performing 3 jobs in one, Boarding Specialist for new dealers, Managing Risk for your own Region, duties of Inside Sales Representatives, doing simple work for Credit Analysts, and doing legal documentation. Your work is constantly being watched as if someone was breathing down your neck. The pay is below average. Your title is publically lower than what you really do for the company, manage your own region of a portfolio. You are expected to perform tasks without one on one training. They refer you to a procedure book, rather then explaining in person on how to complete an assignment. You receive 14 vacation or sick days a year. They will keep adding to your tasks. You will work on paper for 40 hours a week, but will need 60 hours to complete everything. It's nice to be labeled salary, because you put in that work as the ones on salary.

    Advice to Management

    Keep hiring people with the same last name. Give Account Analysts more respect with their titles. No Account Analyst is happy with their job right now.


  4. Helpful (2)

    "Sales"

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

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

    Pros

    Great location. Nice building and amenities.

    Cons

    Upper management works in silos. Rampant nepotism and cult-like groups.

    Advice to Management

    Revamp senior management with knowledgeable "professionals". Let the people with real experience/knowledge do what they do. Disband the overpaid Dream Team and the incredible misuse of company funds used to support the non-performing product they serve.


  5. Helpful (3)

    "Account Analyst"

    StarStarStarStarStar
    • 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?


  6. Helpful (2)

    "Don't waste your time."

    StarStarStarStarStar
    • 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


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

    StarStarStarStarStar
    • 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.

  8. "Great Company"

    StarStarStarStarStar
    • 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.


  9. "Great company with an even better future"

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

    Pros

    Every employee has a voice. We are encouraged by its growth and continue to look for ways to grow internally and from a professional development standpoint. Just this year, our parent company introduced several new ways to support talent development and I am excited by the chance to learn more. the coolest thing is that every IF employee is on a bonus program. We also have a CEO that cares deeply about the business and takes the time to listen to anyone in the company. Finally, this year we kicked off telecommuting a couple of days a week, pretty sweet.

    Cons

    Middle management resists change. Folks are frustrated. Policies and procedures are hard to follow. We have some management that are holding onto the past, need to let go and embrace the future.

    Advice to Management

    Keep the passion alive and share more with employees. Some folks never change, help them find roles better suited for their attitudes and minimize their negative influence.


  10. Helpful (6)

    "Come On Guys, Seriously? Grow Up!"

    StarStarStarStarStar
    • 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?


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