TD has a lot of "lifers". There are a lot of employees who have been at TD for almost their entire careers, and within IT, these people often don't keep up with changes in technology and IT practices. Working in technology, it's easy to feel disconnected with the industry (outside of banking). The organization doesn't expect people to participate in their field, and doesn't provide much support for employees who want to keep up with the IT industry (e.g. subscribing to industry magazines, attending conferences and networking events). It's not just financial support, it's also a lack of interest among colleagues. If information is not from a vendor or other large Canadian FI, the attitude is that it's not relevant.
The culture is not open to change. Many people are able to articulate the problems they face every day but rarely do people address their problems if it requires them to change how they approach or complete their work. Being risk-adverse is very important for a bank, but the market is changing and growth requires a level of innovation and risk in some areas.
People are committed to the organization and doing a good job, but there are few people who are passionate about their work. The focus is "just get it done", not "getting it done" efficiently or maximining reuse.
