Financial Ombudsman Service Ombudsman Reviews | Glassdoor.co.uk

Financial Ombudsman Service Ombudsman Reviews

Updated 30 Nov 2018

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Found 22 reviews

1.7
StarStarStarStarStar
Rating TrendsRating Trends
14%
Recommend to a Friend
3%
Approve of CEO
Caroline Wayman
18 Ratings
  1. Helpful (4)

    "Difficult time for some, but still a great employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Ombudsman in London, England
    Recommends
    Positive Outlook
    No Opinion of CEO

    I have been working at Financial Ombudsman Service full-time for more than 8 years

    Pros

    Great people. Doing something to help make our society fairer. Great pension. Private healthcare. 25 days holiday (but you can buy more). Income protection. Lovely offices. Good value cafe with a great view. Free gym. A perfect place to start your career - many people move onto work in regulation or compliance.

    Cons

    Currently going through a change program to future proof the organisation. This is hard for many people, who don't believe in the new ways of working and have lost faith in our executive team (particularly the longer serving staff). Many won't fit into the long term future of the organisation and are angry as a result (as you can see in other reviews). Internal recruitment is very competitive and you need to be resilient.

    Advice to Management

    Do more to show employees that the new ways of working are better and won't compromise getting to the right answer to our customers.

    Financial Ombudsman Service2016-08-11
  2. Helpful (31)

    "Be careful what you wish for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Ombudsman Manager in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time for more than 3 years

    Pros

    The usual told by previous staff

    Cons

    I assume the previous entry was in relation to the 2 Executives announced as leaving in the new year. What we need to know is why is it that it's these 2 people going? Why has the Mrs CEO deemed these to be disposable? Anybody working at the organisation would know neither are bullies which seems to be a large focus on staff comments on this site. With these 2 gone how will it benefit us? You have 2 reasonable and people...

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    Advice to Management

    To the board - salaries should only be paid when earned. Seriously, what value have you added to the organisation? You have employed an under qualified CEO, not even having the sense to closely monitor her. You blindly accept what she tells you even though she is lurching from 1 problem to another. How are you letting the mess we are in going public via government committes or TV programs? It's never her thought -...

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    Financial Ombudsman Service2018-11-30
  3. Helpful (39)

    "Ozymandias"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Ombudsman in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time for more than 10 years

    Pros

    If you have no financial services knowledge, no qualifications but talk a good game, you can go far. Some wonderful people, including senior managers - it tends to be the exec and the casework directors who are the real problem.

    Cons

    A CEO who stands, Ozymandias like, amid a crumbling ruin asking us to look on her works with awe. The casework model doesn’t work - we’re hiring more and more contractors to plug the gaps. We’re throwing money at overtime to try and resolve the easy cases that would take a proper ombudsman a few hours to resolve. I’ve heard directors joking about people who have died waiting for a final decision from an ombudsman,...

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    Advice to Management

    There is no point in giving advice to the exec or board of the FOS, but they ought to know that when they stand in front of their staff, we see through the nonsense and we know it doesn’t work. I dare you to have another staff survey.

    Financial Ombudsman Service2018-07-05
  4. Helpful (43)

    "How low will manangement stoop"

    StarStarStarStarStar
      Former Employee - Ombudsman 
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I worked at Financial Ombudsman Service full-time

      Pros

      As has been well rehearsed by previous posters the fringe benefits are excellent. The office location is good for job hunting.

      Cons

      There seems no point in repeating the well described criticisms of management with regard to how staff are treated. Clearly the board and FCA are not interested in that. However, the real issue now (given Despatches) is how management has tarnished the reputation of FOS and how that has led to customers being treated unfairly. The abuse of power to the detriment of customers has got to stop and a management clear out...

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      Advice to Management

      Please leave.

      Financial Ombudsman Service2018-03-06
    • Helpful (34)

      "No no No!!!!"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Ombudsman 
      Recommends
      Neutral Outlook
      No Opinion of CEO

      I have been working at Financial Ombudsman Service part-time for more than 10 years

      Pros

      People are mostly amazing to work with. We do a good job and help a lot of people.

      Cons

      No idea of where we're going. No real career paths. The wrong people are still being promoted.

      Advice to Management

      Stop!! We know you're trying with the meet the exec thing- but does anyone who goes along want to talk about how we can be attractive to millenials???? Who cares?! You've just proven that you're out of touch and have no idea what people want to talk about. Please stop and think before you do more damage. Maybe it's time for some on the exec to quietly leave..... Taking half of stakeholder with them (what exactly do...

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      Financial Ombudsman Service2017-10-01
    • Helpful (45)

      "Let's start a campaign"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Ombudsman in London, England
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I have been working at Financial Ombudsman Service full-time for more than 3 years

      Pros

      I did love this place. And it still has the foundations to be a great employer and a vital part of society.

      Cons

      Everything on here is true. And is echoed - in fact amplified - by the recent independent staff survey results which are nothing short of atrocious. Caroline Wayman is clearly too selfish to resign despite realising her and her exec team will never regain trust or respect. Nor will they improve anything whilst they "think about things over the summer".

      Advice to Management

      We need to put pressure on the chairman and the board to question whether it's time for a change. I say write by post, directly to Nick Montagu with your concerns.

      Financial Ombudsman Service2017-07-19
    • Helpful (40)

      "Shambles"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Ombudsman in London, England
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I have been working at Financial Ombudsman Service full-time for more than 10 years

      Pros

      It used to be a decent place to work and lived it's values.

      Cons

      I start to wonder if anybody knows what they're doing. You have senior management who try to convince management to convince adjudicators new ways of working work. It's clear from anyone that works there it doesn't. Decisions being made are wrong, hurried and based on insufficient evidence and being made by people who don't understand the products. Yet they still try to convince people it's working. People are not stupid...

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      Advice to Management

      Seriously it does not work you are running the service. Stop lying.

      Financial Ombudsman Service2017-07-12
    • Helpful (38)

      "Clueless senior management"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Ombudsman 
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I worked at Financial Ombudsman Service full-time for more than 5 years

      Pros

      The people who work there make the ombudsman service what it is. New offices and good facilities on site.

      Cons

      Senior management are trying to turn a once respected organisation into a quasi CMC. The ombudsman service has a set of values that are meant to apply to everyone who works there. These values are conveniently ignored by senior management whenever it suits them and they don't consider the, to apply to decisions they make for the staff. They seem to think the negative reviews on here are all a result of the changes that...

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      Advice to Management

      Resign and move on while you still can. You have lost your staff and are losing your reputations. Be accountable for your actions and decisions.

      Financial Ombudsman Service2017-04-26
    • Helpful (111)

      "CEO is running a great organisation into the ground."

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Ombudsman in London, England
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I have been working at Financial Ombudsman Service

      Pros

      I love it here. Here are a few of the reasons why this is a great place: * Excellent work / life balance. * Lovely colleagues make a very nice atmosphere to work in. * We do important work, help people and have the opportunity to make a difference. * Often stimulating and challenging work. * Great location (near Canary Wharf). * Great office building. * Subsidised canteen. * Great benefits, including BUPA health...

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      Cons

      * Massively ill-conceived and poorly-implemented restructuring of the organisation. * Total disdain for financial and technical knowledge, expertise and experience. * New business model in which everyone is expected to be a "jack of all trades and master of none." * Micro-managing of investigators, instead of trusting them to do their jobs like adults. * Low morale as a result of all the above. * Exclusively white...

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      Advice to Management

      Management isn't interested in our advice. Time for a new management.

      Financial Ombudsman Service2016-10-15
    • Helpful (55)

      "Optimism is wearing thin..."

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Ombudsman Manager in London, England
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I have been working at Financial Ombudsman Service full-time for more than 3 years

      Pros

      There were a great many of benefits until a couple of years ago - but slowly they are being lost and only a few remain: - Good location - Good benefits - Friendly and genuine colleagues

      Cons

      No work environment is perfect, but the recent restructure which is ongoing accounts for many of the downsides of the organisation. There's still a considerable lack of clarity around what it means moving forward, but the current negatives are: - A very demotivated environment - Unrealistic workload expectations for new structure roles - A lack of flexibility and work life balance (which was previously one of the...

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      Advice to Management

      There's a genuine recognition that everything needed to change and become more efficient. But by stripping out the manager roles and giving ombudsman that responsibility, it's actually just indirectly taken ombudsman resource away as just as much management need exists. There is a discomfort amongst the casework employees about dealing with more technical and varied cases without a proper knowledge and support infrastructure....

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      Financial Ombudsman Service2017-02-01
    Found 22 reviews