Lies, incompetent managers, and a Compliance department sinking - Compliance Analyst N26 Employee Review

1.0
29 May 2020
Recommend
CEO approval
Business outlook

Pros

- Free drinks & sparkling water

Cons

- There are not many benefits anymore. They removed or reduced all of them: no more office dogs, Urban Sport Clubs and commute subscriptions became much more expensive, no more team offsites, no more pizza on Fridays. They say it’s due to the COVID-19, but I do not believe to see those benefits coming back, as they were looking to remove them for a long time. - The company is still not profitable, and it shows: they are firing complete teams and are sending a huge amount of employees to Kurzarbeit. Most of the employees are not getting renewed during this time. It literally feels like the company is sinking! - The Compliance department, despite being one of the most underpaid departments within the company, has not been hiring for months. Their backlog is so huge that cases are pending for WEEKS. People are leaving like crazy due to a lack of proper management, process, and due to tools that are not adapted to their work. Their backlogs keep growing which makes this bank “The Bank Fraudsters Love To Use”. — “It’s in progress”, management says. But they do not have any plans. They seem to have forgotten their last BaFin order, which was asking them to urgently solve the backlog in IT monitoring. It is incredible they still have a banking licence. - I have seen every type of misbehavior working there: managers promoting each-others, harassing their team members, sexual misconducts, and violence. HR is much aware of those cases by having dozens of reports on their table, but no actions are being taken. It took them 5 weeks to offboard a violent manager, and that happened once people started to make noises about an eventual police and press complaint. - Employees have been requested to not publicly give bad comments which could connect to N26, as this would put the bank’s reputation at risk. Why don’t they try to fix what’s wrong instead of asking people to not communicate about it? The Engagement Surveys got so bad that they stopped presenting the results.

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N26 Response
6y
Thank you for taking the time to share your feedback with us. We would first like to make it clear that we have zero tolerance toward any unacceptable behaviour in our workplace, and encourage all employees to take action if they are witness to anything of this nature. If you need to raise something confidentially we have an external Speak Up hotline in place, where any member of our teams can raise concerns that they may have. Of course, where our employees feel comfortable to do so, they can also raise these concerns with their line manager or the People team. In these cases action is always taken, though the visibility of this to individuals who are not directly involved would depend on the situation. COVID-19 has affected many businesses across the world, and for us that has meant that we needed to ask some team members to participate in Germany’s short-work program, Kurzarbeit. As with all decisions that affect our staff and workforce, this decision was not made lightly, and only those in roles where the workload has a major impact have been asked to adjust their working time. We have also offered a voluntary option for other team members to participate, such as those with children, where their preference would be to reduce their working hours at this time. Feedback we receive from reports, such as our quarterly employee engagement survey, is taken extremely seriously. Last quarter we took a bottom up approach, where each department discussed their results, created action plans, and took these back to the leadership team to present and align. The outcome of these discussions and action plans have been shared via blog posts on the company intranet from your department’s C-Level. We also share all of the feedback we receive from Glassdoor with the leadership team, so that the team can understand what’s working well and what needs to be improved. We really appreciate you sharing your experience, as it's through this feedback that we can continue to improve N26 and ensure it's a great place to work. If you’d like to keep the conversation going, please get in touch with the Employee Experience Partner for your area. Thank you.

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5.0
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Pros

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Cons

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5.0
21 May 2018
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Recommend
CEO approval
Business outlook

Pros

Small team in NYC working on bringing N26 to the US. Flat team structure (no bureaucracy or painful hierarchies). Open lines of communication and instant feedback loops. Everyone is extremely smart and driven towards a common goal, and we also enjoy each other's company both in and out of the office. There's also respect for having a life outside of work and a good sense of balance. Huge opportunity to take on as much work as you can handle and drive your own workstreams and outputs. I've found that my scope of responsibilities is quite large, and since joining, I've broadened my skill-set significantly in areas I wanted to expand upon.

Cons

Coordination with Berlin can be difficult at times given time zones and hypergrowth there. Nonetheless, people always are willing to help out and make themselves available when needed. Small team size as of now means fewer hands to help with all that needs to get done. That said - plenty of opportunity for new joiners to take on key tasks and responsibilities as we continue to grow the team

32
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N26 Response
7y
Thanks for sharing your feedback with us and your experience of working at N26.
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