CIBC Employee Reviews for Consultant
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Great place to grow and develop as a young professional; works with very notable, high profile, and reputable Canadian clients . Very team-oriented culture. Management open and very approachable — both with respect to day-to-day operations and with to long-term growth initiatives.
CIBC has poor leadership; they have limited understanding of the needs of their staff and it is not a priority to rectify the deficiency. This makes it difficult to help your employees become self-actualized. A large percentage of the leadership simply lack the EQ to perform this task or even understand it. There are some decent leaders, but not all employees may experience this, as the middling performers tend to be ignored rather than encouraged to improve. The bank prefers fealty (sycophants) over performance. You could work 60 hours a week or 30 hours a week and get the same rating, as employee performance measurement is more about ticking the box, than evaluating the employee or helping them grow. Similarly, the yearly leadership rating system, ESAT is not effective. If you are one of the chosen you could have multiple poor ESAT scores and live to underperform another year. Conversely if you are a good leader, but someone dislikes you, you are likely to be shunned. There is also no screening of new people managers, training courses can only help so much, when you do not offer the compensation to attract good talent. Do not expect HR to help the employee, they are there to do management’s bidding and bury it deep. The quality of the staff is quite disparate, those who have decent skills may get promoted, but it is more likely that they will be under appreciated and leave. This is largely a function of the leadership issues outlined above, but the performance rating also plays a role in this problem. The under performers are paid the same or more as the hard-working talent. - more...
Working from home
Best part about working here is work life balance. One gets enough time to work at a task. There is also a lot of freedom given in managing your own work.also you get to do a variety of work. System and processes can be upgraded to current standards.
Work life balance
CIBC is great place to work. Be productive and team player is very important. I enjoy my work at CIBC. I was a contractor and my contract has expired.
Great team to work for. Really love my work.
The work is a plenty. Some days the work hours are long.
Its a structured and secure place to work. Specific skills in specific roles are very important. Its positive, but a siloed work environment. You can move around, but a role will be very specialiazed and require highly specialized skills.
During my time at CIBC, it started out as a very aggressive financial institution and put a lot of emphasis on capital markets for making profits. After a getting themselves involved in a few scandals in the early 2000’s (paid the fines but did not admit to any wrongdoing), CIBC became very risk-averse. They scaled back on capital markets and put more emphasis on retail banking. it was at this time they dropped from #2 spot to #5 bank in Canada. From an employee perspective, you will see this risk-adverse culture still very evident today. There are lots of processes to follow so you can expects lots of forms to fill out before you can actually do the work. Following processes is important but efficiency is being affected - CIBC clients who also use other financial institutions will notice transactions take longer to complete at CIBC. I don’t believe management has a plan for CIBC to catch-up with their competitors. Apart from the risk-averse culture, I found the employees work collaboratively with each other. They want CIBC to succeed but many of them doubt if they can keep up with their competitors who have a clearer corporate direction and executing their plans. At CIBC, I see employees often working on niche products that don’t stay around for very long. It can be deflating to work on a project for months, only to see it decommissioned afterwards. CIBC takes a lot of pride in their online banking platform that is considered industry-leading but their brokerage platform is very outdated - so which area in CIBC you work makes a difference. CIBC does offer a competitive - more...
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The way to succeed at CIBC is to just stay below the radar and last. Everyone regardless of skill eventually becomes a SM of they want to. Biggest setback is the selective promotions based on friendships not skills. That's why if you last your friends will move up and promote you and you can just maintain status quo.
No one goes above and beyond
Typical day at work: reporting and training responsibilitiesMost enjoyable part of the job and Lessons Learnt: the older members of the team are always rightManagement: The managers of your dreamsCoworkers: We want more people like that