CIBC Employee Reviews for Financial Representative
Financial Representative416 reviews
Found 416 reviews matching the searchSee all 3,468 reviews
Indeed featured review
The most useful review selected by Indeed
If you thrive in a fast paced corporate environment, this is the place for you. But you get to meet great colleagues from different cultures and you can even get motivated to put in your best depending on your personality.
Great leadership team and people first environment. ... I personally have improved my interpersonal skills working in this place. You have the opportu
Great leadership team and people first environment. ... I personally have improved my interpersonal skills working in this place. You have the opportunity to learn from different programs and to work with people from different backgrounds that have enriched my work culture. Jobs
The job in itself has the potential to be a great job, the pay is good, the insurance / benefits are good. the hours are not great as they are based off of your time as an employee, so if you are a new employee it is likely you will be selected to work late evenings and weekends etc. The only fault I had with this job is the extreme micromanagement. The managers put pressure on the team leaders to make sure theyre teams are excelling and reaching high sales targets, so in turn the team leaders are constantly breathing down your neck and monitoring everything you do through a magnifying glass, I personally found this extremely uncomfortable and stressful.
See more jobs
Jobs at CIBC
Financial Representative positions
Local management in my area is great, but senior management is out of touch. Here are some pros and cons. Cons: - lower pay than other banks - there is an attitude at all levels of the bank to "get lost of you don't like it here" - external hires are always paid more than existing staff - EXTREMELY glitchy, poorly designed and antiquated computer systems - terrible business banking team and products (dead-last among Canadian Banks) - constant cuts to "non-productive" support/service roles with tellers and associate/assistants - lack of tenured/knowledgeable staff - constant "gaming" by sales staff to inflate their sales numbers (no one is measured by the same standards) - poor culture that promotes mediocrity and underpays the most talented staff (this is done in a number of ways, primarily bonuses, pay structure and incentive programs) - fewer and fewer teller hours are available (many branches frequently operate with a single teller and no lunch coverage) - lots of inefficiencies with internal systems (for example, mortgage assumptions are done on PAPER and MAILED to head office, all RIFF GIC renewals are done via a manual form that gets processed several days later by the back office, mortgage documents are printed and assembled manually by the lender often taking 30+ minutes, the only way to inquire about a transaction is to order the original paper receipt, among other things). - employees are not valued and are treated like they are expendable (because they are) - client statements are not consolidated in one place (you may have to go to 3-4 different programs - more...
Finance is a different world where competition is the norm but the expectations that CIBC gives it employees borders on sadistic. CIBC has the worst Culture of any work place I have ever worked at. They have no care for family life or your health at all other than what numbers your putting through. They hire and blow smoke, saying how well you're going to do after training and what they actually mean is how much money you will make for the bank by using their shady practices. They train people to understand Mutual Funds, TDSR calculations are manipulated, insurances, home buyers plan, and the list goes on...they don't train their employees to understand they train them to sell.....ask your FSR the next time your in to explain the pros and cons of insurance or GIC's vs RSPs.....ask them what your net worth is and what they can offer you to improve it....I bet you will be surprised at how little there people know but how " well" they are doing - winning trips - that is based upon SALES! it is dangerous to sell things you don't understand and most of the FSR's that work for CIBC are there because they are salesmen not bankers!
This is a great environment, in the sense that you meet great people, and you get paid fairly well. But the toll it takes on you mentally was not worth it to me. The place is Extremely sales driven, and you are not required to help the customer with THEIR actual needs, you are only required to help the company meet quotas. You are asked to push products onto clients that you can see don't require it. Like selling a 86 year old woman her 3rd credit card to push her further in debt when she doesn't need it. Be prepared to feel morally tarnished doing this job. If you are okay with selling your soul then go ahead and work here. Also management is no help, all they know how to do is breathe down your neck and make your life stressful.