Financial Ombudsman Service Reviews | Glassdoor.co.uk

Financial Ombudsman Service Reviews

Updated 10 December 2018
437 reviews

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Caroline Wayman
277 Ratings

Employee Reviews

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Pros
  • "Relatively good work/life balance" (in 55 reviews)

  • "Good benefits, nice people and flexible hours" (in 60 reviews)

Cons
  • "The senior management are listening now - and I think have been doing well with taking things on board" (in 78 reviews)

  • "no one at the top is being performance managed" (in 27 reviews)

More Pros and Cons

  1. Helpful (22)

    "Stop your whining, slackers!"

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

    I have been working at Financial Ombudsman Service full-time (More than 5 years)

    Pros

    The benefits are amazing. I've worked in places where you get far less.
    Pension - they will pay up to 12% with you contributing nothing. They'll also match up to 3% of what you add.
    Holidays - you can buy up to 10 extra days
    Private health insurance (BUPA)
    Critical illness cover
    Dependents pension
    Income protection
    Along with all the basics like childcare vouchers, cycle to work, dental & travel insurance and computer purchase scheme. Yet the entitled, bratty people at the FOS think its rubbish and take it for granted.... wake up little darlings and await your rude awakening into the real world. Oh, that's right - you're too lazy and whingey to go elsewhere as you know you'll be managed and will actually have to do some work - you know, what you get paid to do - it's not a social club!!

    There's 2 cafes on site that serve great food with a really varied menu. You won't pay more than a couple of quid for a decent meal.

    Massages and reflexology on site. Also, a free gym onsite with classes and health MOTs.

    Each floor has free tea and coffee and the spoilt little darlings also have cleaners that wash up after them. I mean, the lazy people don't even have to wash their own mugs or plates etc. It's like mummy is at work with them!!

    As you can probably tell, I get very angry when I see the bad reviews that have nothing good to say.

    People do not realise or appreciate how good they've got it.

    Cons

    The flexible working options could be better like having compressed hours, 9 day fortnight and more home working.

    More trust given to people to have autonomy to make decisions without having to jump through hoops.

    More experienced exec team with external experience. I would like to see more leadership and for the exec and senior managers to be more inspirational and motivating.

    Weak managers with no follow through to manage people correctly.

    Advice to Management

    Take more risks, manage the poor performers out. They're dragging down the rest of us that want to get on.

    There's been little or no turnover G4 or above for a long time. That's not healthy so maybe it's time to shake things up and bring people on board who have more commercial experience.


  2. Helpful (21)

    "Be careful what you wish for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Ombudsman Manager in London, England
    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 (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 focused people going , leaving - at best unprofessional and at worst vindictive - Execs left to contend with. That means any voices of reason have been removed from the executive meetings where staff pay, appraisals,benefits etc are decided. I don't know about you but that doesn't strike me as a win for staff. I too have a low opinion of our 'strategic leaders', but it needs to be the right Executives moving on, I don't think this has happened. Mrs CEO has reduced the Exec team hoping the treasury select committee will get off her back. It's a short sighted action by a short sighted CEO. Untill the board or FCA remove her nothing will change. The only credit I would give her is that there is definitely not a boys club at the very top , the women ( I am told they socialise out of work , as I don't know them I can't vouch for this however) always have the casting vote as they stick together. if true that's not helping the womens movement, its the worst positive discrimination there is.

    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 - but it is your. We can't cope with current workloads but she still wants more areas under her control which you are happy to back. You should be ashamed of yourselves,I know I am for you.

  3. Helpful (14)

    "Casework VS support teams"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Support in London, England
    Former Employee - Support in London, England
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Financial Ombudsman Service full-time (More than 5 years)

    Pros

    lovely offices - open plan, lots of natural sunlight
    good facilities - kitchen area, sink, fridge, cupboard space, cutlery, tea and coffee
    free gym - small but totally functinal. Even got a studio area aswell with free and paid classes
    subsidised cafe with reasonable menu choices and price
    decent 7 item breakfast for £2.25
    good work life balance. Finish at 5 or 5.30
    friendly colleagues
    work life could be alot worse out there in the harsh world but the atmosphere in general is quite nice.

    Cons

    My issues is not so much with the day to day but more to do with micro managaing from senior managers and managers in general not trusting their team or respecting their skills, knowledge or experience.
    Some managers are allowed to get away with acting like tyrants. With no fear of any backlash or to be brought into line with the values of the organisation.
    I've read some harsh comments regarding HR and how they deal with things. But i tend to agree. HR seem to be a 'yes man' culture. All they say is yes yes yes and run after their tails achieving nothing and not making a difference to those who really need their help and support.
    Even those who work in HR are constantly repremanded and demeaned. Very demoralising for grass roots level employees. Who are in fact the front line workers to the organisation.

    FOS use to be a place where you felt valued and appreciated. Where you could learn and excel in the direction you wanted. A place where you could feel confident in your abilities and respected as a team player and overall employee.
    Most of things dont exist anymore. And its a traggic shame. The result is that people with great skills abilities and experience are going elsewhere to shine and be paid their worth.

    Advice to Management

    Stop being a tyrant. Stop mistrusting your whole entire area. Treat your team like adults and stop making them feel like cheap worthless labour.
    Stop the two faced behaviour and stop trying to put your foot down on anyone who dares to shine in their achievements.

    Theres alot of world outside of the FOS. And though the FOS has many good points, it doesnt take long for the negativity, the lack of progression and learning to take hold.

    You've been warned!


  4. Helpful (3)

    "Conflicted"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Financial Ombudsman Service full-time (More than 5 years)

    Pros

    People, benefits, training & development budget, employee networks

    Cons

    Communication, change management, lifts, job prospects

    Advice to Management

    Listen to feedback. There are a number of staff coming in every day, doing a great job, trying to help people. Show you value them more.


  5. Helpful (3)

    "Consumer Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Approves of CEO

    I worked at Financial Ombudsman Service full-time

    Pros

    Great place to work, many benefits

    Cons

    Department closure due to internal change


  6. Helpful (14)

    "Used to be good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Disapproves of CEO

    I have been working at Financial Ombudsman Service full-time

    Pros

    Used to be a good place to start your career in financial services.

    Cons

    Too many cliques and senior management not having a clear strategy or understanding of the impartial role FOS should have.


  7. Helpful (2)

    "things are improving"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investigator in London, England
    Current Employee - Investigator in London, England
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Financial Ombudsman Service full-time (More than 5 years)

    Pros

    Good benefits, flexible working and people generally friendly.

    Cons

    Things can change a lot.

    Advice to Management

    Be clearer about plans and how they effect staff.

  8. Helpful (7)

    "R"

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

    I have been working at Financial Ombudsman Service full-time (More than 5 years)

    Pros

    It's official, the exec ARE doing a great job...

    Cons

    Clearly been in the Matrix too long!

    Advice to Management

    Should have gone to 'ExecSavers'!


  9. Helpful (29)

    "Finally some senior management sackings"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Some leadership sackings at last. 3 years to late but hey ho

    Cons

    Keep going Mrs CEO plenty of other Exec members need to be fired. It's just a shame those who remain who are responsible for the Investigation model failure remain in situ. More sackings please

    Advice to Management

    Do the job properly. Forget the spin you put on the intranet. No one believes it


  10. Helpful (10)

    "Downhill fast"

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

    I worked at Financial Ombudsman Service full-time (More than 10 years)

    Pros

    Flexible Benefits and pension contributions,

    Cons

    None that I can think of

    Advice to Management

    Admit the new ways of working are not working and start again