credit analyst

TD Auto Finance

A typical day at work at Advantage XPO for TD AUTO finds one involved in some of the most complicated personal issues of its customers and the most challenging system issues and processes. Schedules are completely unstable and inflexible. There is no clear or consistent communication to the company's contractors about their status or performance with only the minimal feedback and rating of this. This company does not have a clear path towards permanent employment and has a history of retaining contractors for indefinite periods of time only to be relieved of their duties if they speak of their opinions or ask for clarification once too often. In my particular department managers are pleasant and mostly helpful, yet are so overwhelmed with the job of implementing new policies and procedures that they do not have time to mentor the newer employees. There are a group of employees who have taken it upon themselves to be the monitors of best practice and enjoy privileges not afforded to others who are not as outgoing. My most enjoyable part of the day is the satisfaction of helping a customer in need. The hardest part of the job is accepting the fact that this company does not act in good faith towards its contract employees or new customers. The greater majority of coworkers are pleasant and friendly. Internal departments are tense and sometimes hostile when being approached for assistance to customers. Apparently, the TD corporate culture has not been assimilated and this company is still entrenched in the old and archaic mind set of its Daimler-Chrysler foundation.

Overall decent company.  TDAF is supposed to be the same as TD Bank, though it is basically an entirely separate entity, both in regards to pay structure (much less) and management philosophy (much worse).  The greatest part about this company/job is the people you work next to.  Most of the Credit Analysts at this company are some of the most down-to-earth, friendly, energetic people you will come across, and they will most likely become your personal friends for a long time to come.  

Management is supposed to be in line with the TD management philosophy, but is far from it.  Unfortunately (like most large corporations), promotions are given based on corporate politics and favoritism, as opposed to work ethic and accomplishments.  This is one of the driving factors that has driven so many talented individuals from this company.  One thing you will notice is that so many people leave TDAF for other banks, yet almost no one transfers into TDAF from other banks.  The current yearly turnover rate in the department is close to about 50% (yes, 50%), and it is not uncommon to see 3 people a week leave.  Even with this constant turnover, management has had zero action to try and correct it.  You are simply just another number to them.

Regarding the work itself, it's pretty standard and not horrible.  The job stays relatively entertaining, and you will not "dread" going to work here.  Most people are relatively happy and don't hate the job itself, just the management.  It is a fine company to build your resume, but I'm not sure how it is from a career perspective, unless you're willing to transfer to TD Bank, or become a puppet and suck-up to schmooze your way to promotions.

I loved working for the company. Pay was good with great incentives, great benefits, they really appreciate their employees and dedicate a week of employee appreciation where vendors are hired and you pretty much get paid to play.  However; there is a lot of favoritism and foolery. If a manager doesn't like you they will make sure you are stagnant and stuck.  If you aren't willing to kiss butt, or sleep with anyone then you do not have a chance in advancing. Management sleeping with their agents .Your work ethic, metrics and goals being met doesn't matter, what matters is who likes who. If a manager is not fond of you they will they will back you into a corner until you are fired or quit.  Micromanaging is way over the top, causing an enormous amount of pressure and stress. The job itself is easy, but its the management that makes it stressful and almost impossible. Their quality analyst pulls her analysis out of her butt. There is no metric followed , it all depends on how she is feeling that day. They constantly threaten your position.  I loved TD Bank and the company but management is their downfall and all of the things that are swept under the rug.

TD was not a pleasant work environment. Managers played favorites to certain employees, They spoke of family time, however in reality, there was very little concern for family time, other than their own. The managers would be off every weekend and holiday. They knew the employess that they could count on to work weekends and holidays. The last two year I worked there, I worked over 70% of Saturdays and every holiday except Christmas Day and Thanksgiving.

They did not care to retain employees. I was in a meeting with the CEO. Several key members of management with over 20 years experience had left the company. I asked the CEO what they were doing to retain the experienced members. He stated that they were not concerned and it was an honor that other companies wanted the experience. Another time there was a group discussion about the rate of the insurance increase and the fact that our bonuses had been decreased by 90%. We were told point blank "If you do not like it, you are free to leave the company."

Before TD purchased the company it was owned by Chrysler. During the ten years I worked for Chrysler Financial, it was a phenominal place to work. Management believed in empowring the employees and they practiced what they promised. There was full disclosure and the compensation including christmas and yearly bonuses were much better than with TD,

TD Auto Finance is a place to get your foot in the door. The training the different departments provide is probably some of the best training you can get. Most of the positions offer decent pay and the company has pretty good benefits. Eventually you start to build your career and invest in the company and you have to make a decision on how far you want to go. Depending on the location you work at - this might be a short ride for you. Most of the departments operate at full capacity leaving no area of opportunity to bring in other roles to develop yourself. If you are not satisfied with staying in one position you will eventually have to switch to a competitor that might not have benefits as good as TDAF however at almost any company the pay, hours and opportunity for career advancement are definitely there. TDAF leases great people because of this. Most of the departments offer a pretty great gig to get your foot in the door and get the experience but sadly not a place you will make a life long career at due to the companies own inability to keep up with other finance companies and banks. I encourage anyone to ask around and read reviews - not just on the auto lending side of TD but in general. You will find TD is behind the times in a lot of ways.

TD is an overall great company to work for, its easy to start the career at the company via credit analyst job they hire people every 3-6 months. So the job opening is easily available. A bachelor's degree is a basic requirement. Benefits are great and if you are someone with a medical condition that is unpredictable, the company and the benefits work with you to provide job security and manage workload. 
Day as credit analyst: You review loan application and take/make calls in regards to them.
TD has well-established communities that allow you to make a considerable contribution to our community and allies. 
Salary is average for the role, however, negotiation is the key. 
Educational reimbursement: is about 2k for bachelors and 4k for masters. There is some collaboration available with colleges internally.

Cons: The progress in the department is literally up to business needs, but networking, taking side projects and stretch assignments would help.

They gave out a very generous PTO plan, but, they did not tell you right away that you had to use PTO for the national holidays.  This was their first experience at having work from home positions, so there were some kinks to work out, but they tried very hard and did their best.  I had to use my short term disability once, and they did not pay me for 6 weeks, until the day before I was to return to work.  They were not ready for me to return, after having been given plenty of notice of the date.  So for 3 days I sat there with nothing to do because all my sign-ins were not there anymore. That would be my worst complaint.  They use Unum for leave of absence, and Unum is horrible!!

Management makes assumption about skills,  employee character and contributions to the job.  If you're accused of misbehavior, no investigation is done, no questions are asked (or answered).  You may get a standard acceptable annual review and then be laid off for not performing adequately.

The company is VERY slow to make decisions and places no value on input from employees or subject matter experts.  Everything is micro-managed and too much time is spent on documenting every step of your day.

They are fairly generous with paid time off but one manager stated during a Town Hall meeting that "we aren't the highest paying company.  If you don't like it, look for another job."  The company was posting very high quarterly profits but we had to beg for work supplies and re-use as much as we could.

TD Auto Finance relocated their main office to Greenville in January of 2016. I was fortunate to be accepted as a job applicant. I work on the Title Deficiency team perfecting our lien on outstanding titles and SIF's. I work closely with the DRM's and dealerships. 

I enjoy socializing with the dealerships and assisting them in obtaining titles for our vehicles. I enjoy the people and managers I work with. The corporate world here is very diverse and they promote diversity in the workplace.

Challenges are working to complete daily tasks continuously short staffed and since this is a corporation, changes do not happen quickly or as needed. Nor do new hiring as needed.

Working for TDAF helped me learn a lot about auto Financing. I was super grateful to work for a diverse company as well as be able to communicate with other employees in the other locations for additional assistance when needed. I made plenty friends in both locations as well as i was very productive in my job duties. I was able to come up with a learning sheet for myself and other employees to where we would be able to understand specific tasks that weren't exactly clear, It helped me get through a lot of my calls because it was easier to explain using the sheet i was able to create. The hardest part of the job i would say is just the beginning of it when you're just getting on the phones and understanding the systems, but it would get easier as i went on.

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