CACIB Reviews

4.0

79% would recommend to a friend

(686 total reviews)

Xavier Musca

89% approve of CEO

60% positive business outlook

CACIB has an employee rating of 4.0 out of 5 stars, based on 686 company reviews on Glassdoor which indicates that most employees have a good working experience there. The CACIB employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

686 reviews
1.0
1 Aug 2020
Recommend
CEO approval
Business outlook

Pros

The only positive thing about this awful place are the fellow KYC analysts. The analysts here are by and large friendly, helpful and fun to hang out with.

Cons

There are two main cons: 1. The toxic work culture and terrible management. No words can adequately describe how horrible it is working for such incompetent and nasty bullies. The KYC heads are at their positions by virtue of having outlasted everyone else, not because their expertise or management skills. The department head and deputy do not know what they are doing and rely deeply on the KYC heads for every single thing. This probably explains why the KYC heads have not been fired despite their incompetence. The management tries to normalise the toxic work culture but there are signs that are pretty telling : - Micromanagement: The management and KYC heads are extreme micromanagers. Pre-covid, they walk around to check that people are working and take note of how frequently or how long breaks are taken. As part of the team works at home now due to the pandemic, the management wants everyone to set their online status as Active so that they can monitor when people become Inactive. At one point there was even a suggestion to make everyone turn on their webcam so that the management can check that people are working. - Obsession with keeping time: Work hours are strict with a one-hour lunch break. Coming in 3 minutes late earns you a reminder from your team lead to stay 3 mins later to "make up" for the lateness. A 1 hour and 10 mins lunch earns you a talking-to from the team lead. - Bizarre obsession with KPIs: Every business has KPIs and usually for a purpose. In CACIB however, the KPIs are poorly designed (it measures the volume of work TRANSMITTED, not completed) and the management and team heads are bizarrely focused on the KPIs even though it does not contribute to the end outcome. There are KYC analysts who simply change one random line in a file and transmit it to the next queue. This counts towards fulfilling their KPI, although arguably it does not help the bank be more compliant in meeting KYC requirements. - The high turnover rate. Every month 2 or 3 people resigns from the teams, even in this poor economic climate 2. Lack of career progression: This is basically a dead-end job. The work is mundane and the processes antiquated. Anyone who comes in to do this role must be aware that it is basically just documents compilation and data entry. Do this long enough and you may be promoted to KYC controller, which means you check KYC analyst's work. There is basically no useful technical skills or transferrable soft skills that you can hone, which means the longer you stay, the more unemployable you become outside the bank. To verify this, take a look at Linkedin for people who were previously KYC analysts at this bank. They likely move onto other places, also as KYC analyst.

2.0
29 Aug 2020
Recommend
CEO approval
Business outlook

Pros

Most of the people hired there are super nice. They come from all over the world, so you will learn stuff from different cultures for sure if you approach them. That's the only pros sadly ...

Cons

- The management team is not qualified for their jobs and they don't have any skills or competency to do their job. They only managed to get promoted because they have been in the department for the longest time when a "management" position got open. So they have been here the longest and have not gotten any skills (or their "skills" got reduced over time) that would justify their promotion. - On top of being not qualified, they are mean people. They like to shame others whenever they can find (or make up) a reason to. They will send an email to one person with the WHOLE team (or the whole floor) in copy, only to show that a mistake was made. - They are micro managing like hell! They will read every sentence you write in an email and show you that you forgot a coma or a letter in a word! They will take notes of all the things you do (who you are talking to, how many breaks you are having, etc.). Even if you don't have anything else to do because you're done with your work, you have to pretend that you are doing something. Otherwise, during the "monthly" one of one, you will get scolded! - The mood in the office is always bad; and the worst the mood is, the better the management feel. For unknown reasons, they probably think that if the employees are sad, they will stay at their desk and work. Even though multiple times they have been told that a happy employee is an efficient one, they won't take that into account... - This leads to the fact that they pretend to get feedbacks to improve the situation (efficiency in the process, how to get things done better) but only to show off. They will never actually do something to get things better. And if they see that something good is happening, they will always try to find excuses not to implement them and to go back to "how it used to be done before". Because before, they knew how to handle things; if things are evolving, they are scared that relevant people might take their place. - Some people have been holding their positions for 7-8 years; which means they are no longer relevant at their positions. They don't know the current regulations, the current way of dealing with situations/issues, etc. But they will remain there. The worst is that when they become controllers, they will control the analysts' work. And even though they don't know the language or the matter, they will pretend that they do and tell the analysts that they did a bad job! They will make them amend their work until it fits their expectations (which are most of the time wrong). Because on top of being bad, they have such an ego: no one can tell them that they are wrong and they will never acknowledge that either. - Also, for unknown reasons, the people who are obviously the worst manage to do whatever they want. Some of them, even though they are wrong 90% of the time, are taken as examples of seniority. Meaning that in a situation where not everyone knows the solutions, they will redirect you to those people so that you do as they say. That means that a wrong solutions will be spread among everyone. And when you try to confront them, they will tell you "he's been here the longest, so he knows better than you". Because staying at a position for 10 years, knowing nothing, makes you the best -_____- And even their boss cannot say anything to them, because overtime they came to think that they knew better than the others, so no one can "beat" them... - Frustration is the central feeling at this place. If you are happy, they will try to bring you down. If you do good, they will tell you that you can always do better. Whenever they can scold you, they will. Whereas when you did something good, they will never tell you. You have to wait for an email from a stakeholders, saying explicitly "you did a good job" so that they can forward this email to the team and say "it was a good team effort". Basically, you only get scolded, not rewarded. Never. - Summing up figures, supposed to be percentages, they can show you that you only did 10% over the 245% which represent the total (per cent never made sense to them I guess). So, when analyzing your statistics, they will always find that they are bad because they are clearly lacking any basic analytical skills. For instance, during times when we barely had 5 files each per day, I got scolded because I did not reach the 10-files-per-day-goal! Despite reason, there is nothing to do and you will lose the battle. - If you want to survive, you have to accept that everything you know, you have to forget it. If you know something and try to explain, they will always find a way to tell you that it was wrong. In the end, you are slowly becoming a robot who will only do what they are told, nothing else. You have to accept that people will overule you and your knowledge. - In the end, you will learn a few things, as in every company. And you will have the chance to meet amazing people. But you'll have to suffer a lot so that you can have this chance...

1.0
31 Jan 2021

Toxic management

Recommend
CEO approval
Business outlook

Pros

• The work is not challenging so you will have more time to focus on other outside activities, like finding a better job. • Lots of foreign employees.

Cons

• I had the most toxic and most political managers in my entire work experience. Managers with no humanity will pull you down themselves if they don't like you. • Promotion and salary increase are not output-based or skill-based, but your likability on the perspective of French management. You will witness management favorites get promoted while excellent and hard-working employees who are doing the real work get neglected with measly increase. Performing in year end parties or organizing department outings will give you more chance to be promoted than doing the actual work. • The management is rude to the core and find pleasure in lowering the morale of employees. You will witness managers being racists, making fun of foreign employees' accent, bad-mouthing co-workers, employees who are resigning or resigned, and even counterparts in Paris/overseas. Rude managers will sometimes speak in their native language during meetings to avoid other attendees from participating in the discussion. • In summary, I have a horrible experience working with CACIB.

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