A somewhat veiled attempt at agile with top down process and control at the heart of everything. Its an old school financial institution that would love to be a cool tech company but really isn't set up for it.
They want to be agile, but let project managers/commercial set all the deadlines based on annual targets (set without consultation), progress is measured through graphs not software and emphasis is based on process and governance over people and conversation.
The Exec team want people to feel empowered but within tech at least non-coding architects 'decide' the technology for them and use governance to prevent any variance, teams are expected to follow a yearly strategy driven by financial targets there is little or no room for 'responding to change' or trying something new. That in turn leads to long running projects that don't release early, don't look for early validation and are unable to pivot.
Recently its gotten far worse, with advocates of agile lean practices being literally marched out of the building for "missing deadlines" and "troublemaking"
Teams are expected to own their own products but have no access, no freedom and no involvement in strategy/prioritisation.
Terms such as 'code factory', 'they just need to do it' and 'it hasn't happened in 2 years its not about to start now' have been rumoured to have been heard uttered in the halls of the executive suite.
Innovations days have recently been used as a tool to convince the teams its still a great environment, rolled out as required, fuelled with pizza......., but the 'value' produced never makes it to live. - (unless it was part of the year plan already....)
Its a missed opportunity and a shame as there really are/have been some great people striving to do the right thing with sympathetic management. Recently, new levels of hierarchy and huge influx of staff, a significant top-loading of senior and exec management have introduced too many layers of people all desperately trying to prove they can add value, this has silenced the voices of the people actually doing the work, who when asked, give an opinion that will be shot down, in private, by a disagreeing senior manager/AD. If your team does great work expect at least 5 senior managers to take credit - if its not ........ get your coat.
If you care about software you'll find a more loving home elsewhere, If you care about Meerkats too for that matter.
If nothing else I hope this enables you to ask fair questions in your interview.