Pros
Large company, decent benefits and some autonomy depending on manager. There can be great opportunities if you have executive sponsorship and support. Relatively new CIO making an effort to transform IT and modernize the structure and behaviors.
Cons
Some executive IT Mgmt is still very rigid and old school. There is almost no staff under the age of 35 in IT. Executives look and behave more like Insurance Executives than those in a modern IT shop. The environment can be very traditional, inflexible and closed to different ways of thinking and creativity. Most people have been rewarded for being procedural and administrative and becoming the mini-me versions of executives. Tons of unnecessary bureaucratic polices and procedures that don't add value.