Suncorp Group
3.6 out of 5 stars.
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Work at Suncorp Group: Jobs and Careers

About the company

  • CEO
    Steve Johnston
    68%
    approve of Steve Johnston's performance
  • Founded
    2002
  • Company size
    more than 10,000
  • Revenue
    more than $10B (USD)
  • Industry
    Financial Services
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Reviews

Technical support setting up computer networks in Riverside, CA
on June 3, 2018
great company makes all employees feel welcome and they extend there hands to help all that is a part of the team . they have opportunities for you to grow.
Wire processor in Westminster, CO
on December 17, 2017
Suncorp had really good benefits and treated their employees well. You just never knew if they were going to cut staff to stay within budgets. Basically most everyone got along and you were treated well at holidays and recognized for a good job. Overall a decent place to work but down sized several times and was taken over by a Corporate Credit Union in the Midwest.
Financial modelling in Brisbane
on December 15, 2017
I was brought in at a salary far below market, and assured I could renegotiate after six months. 18 months later, I was still on the same salary. When I pointed out to management that my salary was well below that of other people in similar roles at Suncorp, I was told that they couldn't bring other people's salaries down, and were trying to cut costs, so if I didn't like being paid far less than other people I could just get stuffed. Partly this was because of regulatory changes that came in after I joined which made my role less necessary in the eyes of management (which they were aware of when I joined, of course). However, when I asked if they could assist me in moving into a different role, since I had performed phenomenally in this one, they just blew me off. The manager who originally hired me (and who subsequently quit as well) was so disgusted at how they had treated me he used my personal contact information to contact me and tell me to look out for myself and start looking for another job. Management at Suncorp display zero loyalty to their staff and have zero interest in investing in them or developing their careers. When I finally got a job at another bank, my pay went up by over 40% instantly. I didn't even need to negotiate - that's what they offered me right out of the gate.Suncorp has a culture of manipulating models to give the numbers that management find most politically convenient. Most of my time was spent running and rerunning the models with different inputs and parameters until management got a number that they liked. If the number was too high, we'd go back and fiddle with the model inputs to get the number down. At one point, I showed them that a model they were using was completely methodologically incorrect, to the point that the numbers it produced were meaningless. They eventually acknowledged this, but elected to keep using it because it had been officially "validated", and if they changed it now they would have to go through the validation process again which is a nuisance. They would also probably have to explain to their superiors why they had been feeding them incorrect numbers for so long. At my performance review I was chastised for being "too focused on academic accuracy". It's almost impossible to get anything done at Suncorp, because management don't work with their staff, rather they fight with them and actively undermine them. For example, at one point I produced a new model for the bank that met every standard of quality. I was able to complete all the work in just one morning. One manager didn't like it (I suspect he had an agenda), and spent the next three months trying to do something himself. Everything he did was methodologically incorrect, and I had to fight with him endlessly before he finally gave in and deferred to my model (as noted, Suncorp management don't really care whether their models are correct or not). At my performance review, there was no acknowledgement that I had been right all along, and that if they had only listened to me they would have saved three months of the bank's time and money. On another occasion, I found an error in a model that was causing our allocation of risk capital to be completely disproportionate. The two managers who presided over the decision whether to fix the error or not declined to allow the change. One of them believed that if an error in a model causes a number to be twice as large as it should be, that's good because it just means the model is being "conservative" (again - not sure whether he had an underlying agenda or is really that daft). Before I quit, I discussed my experiences with some other staff. They told me that they also spent most of their time fighting with management to get anything done. One person told me it was the worst place they had ever worked. At my performance review I was attacked for having "poor communication". Now, I worked for many years in a teaching and public speaking role, and one thing I was always praised for was my unusually good communication and oratory skills. In fact, after I gave a presentation to a room full of people at Suncorp, another member of staff approached me and commented on how well I spoke. This makes me think Suncorp management have a culture of inventing phony criticisms about staff when they don't want to pay them fairly or are trying to force them out for their own political reasons. In fact, when I was applying for my next job I was praised for my good communication skills in the interview. Suncorp have a review system where for each attribute you are either failing to meet, meeting, or exceeding expectations. However, it was very obvious that people's direct managers were strongly discouraged from giving anyone exceeding because management didn't want to have to give anyone a raise. The whole process is entirely dishonest.I would strongly recommend considering other options over Suncorp. If you have no other options, just leave your brain and your integrity at the door. And don't show them any loyalty, because they certainly don't show their staff any.
Client Relationship Manager in Sydney
on September 4, 2017
Suncorp is a company that does invest in people, I have been promoted after short period of time of being there. Suncorp continually invests in its employees and culture is great if you create it to be like that.
Investigations Supervisor in Sydney
on March 25, 2015
Professional work environment, great development opportunities, office is in a great location, great brand recognition outside of the market, friendly work environment

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