Dtcc – “Good place to work, but, needs to get better. But, Without any competition why should they.”

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.