good at first downhill dive since 2010 - Financial Operations Specialist TIAA Employee Review

Great opportunities for growth and supporting management

There is nothing to love about TIAA!

Work-life balance & nothing else.

Don’t make the same mistake I made…there’s a reason why this company’s job listings barely get any traction or applicants, even in the NY markets. Operations is a joke, and has been subpar for 10+ years. The lack of efficiency across all divisions is scary. The VSP (voluntary separation severance packages) that happened in 2021-2022 made things even worse. Because so many employees took the VSP, most roles were either backfilled with non-qualified or inexperienced people or not filled at all…like ever. Especially in Wealth Management leadership roles. This created a micromanagement culture that gets in the way of productivity & slows down money movement. Opening & funding accounts almost always takes 1-2 months here where at JP Morgan & other firms it takes less than 3-4 days. Back office & services associates constantly make mistakes, which impact the client experience and constantly jeopardizes your reputation. Turnover is scary high in operational & support roles, it is very typically for 1 or a very few operational associates to handle requests for an entire region. Constant turnover in the portfolio manager roles & advisor roles are directly related to all of the above. The company’s growth has been stagnant for years. Now that Trump defunded the education department, universities are laying people off because of lack of government funding…which will affect the company’s bottom line faster than they expect. You’ll strangely get the feeling that no one here ever knows what they’re truly doing.