Dtcc Reviews

Pros

Benefits are very good, and compensation is above-average.

Cons

Very bureaucratic. Non-profit company, so emphasis is always on cost-cutting. Everyone is overworked. Lots of politics. Big push to use offshore development.

Advice to Senior Management

Provide more leadership training to Team Leads so that they can learn and actually practice better team-building skills. There is too much of a divide between NY and Tampa offices.

Pros

1. Central position within the financial industry
2. Stable and predictable work environment

Cons

1. Overly bureaucratic culture
2. Outdated IT

Advice to Senior Management

NA

Pros

Compatible pay, health benefits, bonus

Cons

Rotten culture of backstabbing and blame shifting. Prevailing favoritism and cronyism - it's who you know that will get you promoted and will guarantee a decent bonus. Very political. Too much gossip. Totally useless human resources department that does not advocate for employees interest.

Advice to Senior Management

Open your eyes and look around: the culture of openness and trust does not work. People are afraid to speak out so they don't lose their job. Everyone is looking for a way to cover their ass and to bring someone next them down in order to advance themselves. You have killed the morale with all of the outsourcing and make people nauseous with the put on diversity & inclusion efforts.

Pros

Educational benefits... If you just started there USE IT. If you move on, you will thank them.
Pay is good. Which makes it hard to leave.
You just have to get your foot in the door and you can stay forever.
They will be around for a quite a while longer, unless the finanial system is overhauled.

Cons

Bonus is based on what they think you did in the last 3 months. Your goals and objectives are not even filled out until the end of the year and even then you can modify them to fit your view.
Some VP/MDs use bonuses to make sure you sing his/her song and not tell what really needs to be done.
Senior Executive management wants to see the changes, but, MDs and VPs have come up through the ranks and have never been given the training required to REALLY do their job.
Employees and lower level management are given the training or they are hired in with the required skills, but, soon find out their VP or MD don't understand why they should change or worst they dont want to make waves...
Most changes, like the adoption of the ITIL practices and RISK, happened because of the pain that was felt from shooting themselfes in the foot.

Advice to Senior Management

Lead, follow, or get out of the way.
If you lead... Lead by example.
If you follow... Make sure you are following your leader and his leader, and the company goals.
If you get out of the way... Would it be so bad to be known as the person who grew all these great leaders?

Read "Drive" by Daniel Pink or search Google for "why bonuses dont work"

Don, take this to the board; Raise the pay to 15% below the current total annual compensation and limit all bounses to 10%. Then base the bonus on completing the goals and objectives.
You would save at least 5% in total comp.
Per many scientific research results, you would see better employee performance and satisfaction.

Pros

Experience you gain in clearing and settlement

Cons

Stifling and paranoid environment created by upper management.
No job security.

Pros

Learn a lot about the financial industry. The company offers many training opportunities. Decent benefits especially if you're considering an MBA.

Cons

Managers are incompetent. They have no clue how to manage. They are selected based on knowledge and not based on actual leadership abilities. Everyone appears to be miserable and paranoid. The average tenure is 15 years... They had to have workshops on getting people accustomed to change. I'm pretty sure half the people type with 2 fingers.

Advice to Senior Management

Provide leadership training for managers.

Pros

Stable company to work for. There really aren't very many layoff's. They do give comp days for days worked on the weekend. Great training opportunities!

Cons

You have to know someone to move up. Promotions seem random.
Individuals are encouraged to compete for bonuses and status which causes rifts within the team. Upper management is more concerned with smoothing things over than really implementing a solution.

Advice to Senior Management

Develop and hold to key qualifications for promotion to management. Manage for the longterm not the short term. Be brave and do the right thing.

Pros

Decent benefit, some managers allow flex time

Cons

Very unprofessional. No focus, no competent management. They still do not know if its a government or a private company

Pros

Relaxed atmosphere. Benefits are reasonable.

Cons

Responsibility and accountability.
Mobility with corporation.

Advice to Senior Management

Use open door policy.

Pros

Company is critical to the securities industry and is central to the inner workings of investment banking, broker/dealers, alternative investments and derivatives.

Cons

New blood is trickling in and the culture is starting to change, although fiefdoms continue to thrive. Many committees to ensure we're making sound decisions can sometimes hinder the continuous flow of progress. Although there is a published career progression plan, it is not obvious how the intent is being carried out with promotions and recognition.

Advice to Senior Management

Required reading . . . All I Really Need to Know I Learned in Kindergarten.
Walk the talk, just don't check the box.