Financial Ombudsman Service Reviews | Glassdoor.co.uk

Financial Ombudsman Service Reviews

Updated 30 March 2019
454 reviews

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Caroline Wayman
285 Ratings

454 Employee Reviews

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Pros
  • "Relatively good work/life balance" (in 56 reviews)

  • "Good benefits, some colleagues really nice, people care about the job they do" (in 62 reviews)

Cons
  • "The senior management all have a vested interest in looking out for themselves so have no interest in standing up to ideas which aren't working" (in 81 reviews)

  • "no-one is holding you in handcuffs and you are just dragging things down" (in 28 reviews)

More Pros and Cons

  1. Helpful (17)

    "InvestigatorGate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Adjudcator in London, England
    Current Employee - Adjudcator 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

    Some excellent colleagues and reasonable benefits. Some interesting work.

    Cons

    Anyone with a brain knew all along that 'RussiaGate' was the latest media generated hoax. But the now discredited corporate hacks who've caused a new cold war are still in their jobs.

    Likewise those who created the investigator model on non-existant evidence it could work are still in theres. But they persist because their careers are on the line. Each time, they fill over the cracks creating a new distraction - what's it this time? Horizon.

    Advice to Management

    Hire the MSNBC host in your Communications Team and to appear on the TSC. It might make the world a safer place - and if anyone can drag this charade out for a further few years, she can.


  2. Helpful (23)

    "General Casework Adjudicator"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Adjudicator in London, England
    Current Employee - Adjudicator 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

    Your fellow colleagues (non management)-location of work

    Cons

    The chief executive and the board haven't a clue. The senior management all have a vested interest in looking out for themselves so have no interest in standing up to ideas which aren't working. Overall it was meant to cut queues and backlogs but they are bigger than ever.

    Advice to Management

    Accept that you made a mistake with the investigator model- a one can do all model irrespective of speciality- it doesn't work and targets means wrong outcome reached most of time. And backlogs are bigger than ever before. Money wasted on contracting staff.

  3. Helpful (1)

    "Cool place to work in"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Financial Ombudsman Service full-time

    Pros

    Good with work and life balance

    Cons

    Too many changes in a short period of time


  4. Helpful (25)

    "Arrogance, ignorance and incompetence - three words to describe the mid and senior management"

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

    I have been working at Financial Ombudsman Service full-time (More than 8 years)

    Pros

    Great benefits, flexible working, state of the art building, good location

    Cons

    Most important fact is they don't treat colleagues equally even if they talk about equality, diversity. The biggest impediment created by the senior management is they closed an extremely successful and stable department ( general casework) and set up a new department ( they call it a new way of working) which is now a big failure. Yet they don't want to admit their mistake and are getting rid of old staffs. Their decision has always been erratic with no definite plan of action. They created a toxic environment . Adjudicators in general case work and the PPI are treated unfairly , PPI adjudicators works under constant fear and pressure. You are lucky if by chance you get a good manager but most of them are mere puppets and will never stand by you when there is crisis, all they do their back.

    Advice to Management

    This new way of working is an utter failure, bring back the old system. Treat adjudicators and junior staffs with respect and care, PPI supported you the most financially so respect their contribution. You are what you are today because of the wonderful staffs, retain them instead of pushing them to leave their job. Cross train existing staff instead of hiring more people. You already have the man power you require to fill in any gaps you don't need any. lastly stop the practise of micromaneging.


  5. Helpful (40)

    "Leadership as good as a Tory Brexit minister."

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

    I have been working at Financial Ombudsman Service full-time (More than 3 years)

    Pros

    Subsidised cafe, gym, pension, healthcare, there's still a few good people

    Cons

    There has been astonishing incompetence for ages and no accountability. We lurch from one crisis to another and only scrape through by pulling the wool over the eyes of select committees and independent investigations. There have been 2 major corporate change projects (initially meant to be done as one) - introducing the investigation model and implementing a new technology/case management programme. The complete failure of both is a damning indictment of the oversight and capabilities of the executive.

    Introducing investigation was a good idea. Failing to think it through and properly analyse the trials was incredibly stupid. Multi skilling staff is a good idea. Getting rid of the efficient, better CCD to manage the phones and put more expensive investigators on phone shifts is the type of logic Trump would be proud of.

    Muddling through with no clear direction because you can't admit your mistakes and failures is ridiculous. How can it take 3 years to implement an off the shelf system for what is a pretty basic organisation? Getting new consultants to assess the competence of your old consultants is farcical. The solution to every problem is to appoint lots more consultants. You're talking about 3 horizons now, I can't see us reaching any horizon if the current lot remain in charge.

    The squirming and nonsense spouted at the select committee was frankly dishonest. Yes - we've had more cases in this year but anyone can see we're not doing enough - performance has been hidden by PPI for years and now it's going we're in for a reckoning. They talked of temporarily increasing the levy in the consultation, Trump's wall will be built before that comes down again while she's still in charge. Anyone can see that the case fee is definitely not covering our costs. We can all see that we need to resolve more cases to make the organisation sustainable. None of us object to targets in principle but you need to support your staff if you're going to ask us to go the extra mile, provide sensible systems, a basic direction and priority and use our specialist knowledge effectively. Make us feel vaguely valued and treat the people who are likely to be leaving with some respect and common decency.

    Advice to Management

    Apply for jobs in the Tory government, your competence is highly rewarded there.


  6. Helpful (14)

    "It is a good job for a graduate or someone with less than 3 years working experience."

    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
    Negative Outlook
    Approves of CEO

    I have been working at Financial Ombudsman Service full-time (More than a year)

    Pros

    Great colleagues and excellent benefits

    Cons

    The career prospects are poor. You need to be a long time in the service for you to progress.

    Advice to Management

    The recruitment process isn’t achieving its goal. Newly recruited employees join FOS to receive the training and the experience and the majority of them leave in less than 12 months. Career progression within the service is so difficult to achieve that it makes sense to receive the training from FOS and go elsewhere to start a career with that training and start getting paid more.


  7. Helpful (1)

    "Reasonable first job"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Financial Ombudsman Service full-time

    Pros

    On the whole good to work for

    Cons

    Not the best location in London

  8. Helpful (43)

    "Expected to know and do too much."

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

    I have been working at Financial Ombudsman Service full-time (Less than a year)

    Pros

    Nice people, great benefits, flexible working, nice building and environment, staff care about the work they do.

    Cons

    staff used to be specialists in a certain type of complaint. This was changed, so now all staff look into everything. This means all staff look at complaints from banking to insurance to mortgages to credit.
    So what you have now are jack of all trades master of none. Staff are answering compliants with zero knowledge of the product or any idea what they are talking about. This also means everything takes longer to answer so targets are harder to achieve.
    On top of this - phone shifts. The call centre has gone, so on top of their own cases staff have to act as call centre staff. Getting shouted at by members of the public because their case hasn’t been looked at yet - probably because staff are too busy on phone shifts or researching a complaint they don’t know how to handle.
    Getting sworn at and complained about just for answering a call is a regular occurance.
    Loads of good Staff have left because they signed up to adjudicate complaints not work in a call centre.

    Advice to Management

    This comes from a person who loves the FOS and thinks it does great work and would like this to be a job for life. But management need to understand that call centre work and being great at investigations are two completely different roles. Staff HATE the phone shifts. They are detrimental to investions. Reconsider the ridiculous decision to put staff on phones and not have a specialist subject. It makes the role impossible at times.


  9. Helpful (27)

    "Fair? Really?"

    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

    I have been working at Financial Ombudsman Service full-time (More than 10 years)

    Pros

    Colleagues are the only pro.

    Cons

    Long service reward of leave is unfair. If you have been here 5 years this year, you get 2 extra days off. If you have been here more than that, for example 16, you get one extra day and have to wait for a five year anniversary. How is that fair?
    Compulsory redundancy now coming unless you want to be micro managed in ppi. But, although we will go at the end of June, thus completing a full reward year, we won’t qualify for any reward as we will be ‘under notice’ (through no fault of ours). That is “fair”.
    Also, why aren’t all contracts being changed to the longer hours?

    Advice to Management

    Have a think about “fair being at the heart of everything we do”.


  10. Helpful (19)

    "Mass claims consultant"

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

    I worked at Financial Ombudsman Service full-time (More than a year)

    Pros

    The company itself is great, the building and the name is a good sell.
    Flexi start time and finish time

    Cons

    You don't get as much help when you first join. Most managers don't use the same approach in solving complaints, so what could be acceptable to one manger wouldn't be to another which can be very confusing for the staff as you can get queried for what's not your fault.
    They expect consultants to be responsible for a number of things without increasing salary.
    Favouritism is a big thing amongst the managers and they don't hide it.
    Progression at the start is easy but not much room after.
    Treat start as secondary school kids.


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