DTCC reviews

Things at DTCC are generally held to a low common denominator to avoid making people feel uncomfortable. Little interesting or challenging work (especially in technology) happens without bringing in outside help. Executives often use their positions to advance their own agendas (i.e., throw good people under the bus if they happen to be in the way). As a result of all this, the opportunities for talented people below the ED or MD level to step up and deliver are very limited, or suppressed due to the perception that the risks outweigh the potential rewards. I've seen many good people at DTCC leave for better opportunities elsewhere in 2022. It seems management is not doing much to stop it.

IT is well over half of the company, so following what happens there is critical to understanding the company overall. Recently the former CIO retired and was replaced by an internal candidate with many years of experience at DTCC. I have worked with the new CIO in the past, and found her to be both a competent and professional executive, but since her promotion, she has moved quickly to reorganize her executive team around other long-tenured DTCC staff. These are not the behaviors of a board, a senior executive team, or a company interested in meaningful change, so I find it unlikely DTCC will accomplish anything other than cosmetic changes in the next few years. - Benefits are mediocre (health insurance, PTO, etc.) - Legacy processes and technologies used extensively throughout the company - Diversity hires and promotions above all else...great for diversity numbers, not so good for some exceptional internal candidates that have now left the company - No incentive to improve -- Repeatedly spends of resources lots to build modern frameworks/teams/technologies, then pulls the rug out before any actual change comes to core parts of the business - Strong command and control culture, every communication beyond a polite hello in the hallway needs to be reviewed by your entire management chain