Concerns Over Digital Leadership and Corporate Culture at PenFed
Pros
Building next-generation banking products for customers is an exciting aspect of the work. The organization is adopting new market trends and building solutions from scratch in close collaboration with engineering, making it an engaging area for any product manager/ engineer. Overall, the digital transformation initiative for consumer banking is truly the most enjoyable part.
Cons
Overall, PenFed is a great company with significant potential. However, there are concerns regarding the digital leadership. The current Digital Product Leadership is setting a poor example of corporate culture by referring to contractors in a derogatory manner (Referring to contractors as "servants," using profanity, disclosing their hourly rates, and threatening pay cuts are some of the issues being observed) and scheduling meetings at random hours for non-priority items, ranging from 8 AM to sometimes 7 PM. Additionally, contractors are not permitted to log overtime, which is particularly challenging for the majority who are HCL contractors on work visas. They often endure this level of discrimination due to limited opportunities. Improving the leadership could make PenFed an enjoyable and fulfilling place to work.
