BNY reviews

While not a sinking ship. It's no longer the place to work or be a client. They sold their procucts by differentiating themselves on superior client service. Then they fire most of the client facing staff. They are just like State Street, it's all about cost saving and firing people to saves $. Don't be a client and don't be an employee.

Workload can be heavy, stressful at times and may be expected to handle a load that is more than one person can do. Some new employees hired to do the job have no interest in learning the job & want to be told exactly what to do instead of taking the initiative to learn it. Experienced employees were laid off & replaced by new ones with no experience during a time when it may have been wiser if the experienced ones stayed. Operating module was changed but it didn't seem to be working very well. Such as: New issues were taking too long to set up; Relationship Manager may not be doing their job which delayed new setup; CSD dept. didn't get all the info they needed when new issue closed or new setup not done in timely matter so debt service or principal payment was missed; department that did invoicing did not send out debt service invoices or did them wrong; CSMs were expected to do double the work with no admin assistance. Certain tasks from all offices were given to another group to do & those employees had no knowledge of the accounts or anything so things were missed. When employees had to decide what role/dept. they wanted to be in under the new operating module upper management stated that it did not matter what role or city you were in. However, it did matter as in 2012 employees were told they would be laid off as location strategy was to close satellite offices & move certain positions to core cities. So management does not always communicate fully or truthfully about things that would affect employees' job.