Pros
- Recognizes it needs to transform to be more innovative and digital and has made some strides to work towards this objective - Respectable work-life balance
Cons
- Reorganizations are executed chaotically, exacerbated by internal/external consulting teams that make dubious, hasty recommendations to executive management based on poor data gathering and assumptions - Digital/technology aspirations are still very much aspirational; lack-lustre execution of digital transformation initiatives, driven primarily by desire to cut costs versus business model innovation or improving customer experience. Not sufficient to profess the firm is now a technology company that happens to be in the financial industry but continuing to manage like a traditional bank. - Difficult to invest in innovation when struggling to cope with huge technical debt accumulated over decades of underinvestment in core IT systems; also very poor IT governance, which allows technical debt to flourish. - Salary not competitive with peers; difficult to attract top talent as a result - Sense of initiative and ownership lacking across teams