Pros
Good entry level opportunity to receive exposure to Operations. It does not qualify as IB by any standards whatsoever. Good benefits. There are many bright people who work there and try to develop careers. Good name recognition but limited to IB community.
Cons
It does not qualify as IB by any standards whatsoever. They have very specific processes and clerk-type skills that are non-transferable to another financial institution, i.e. useless. If you are looking to spend the rest of your life in Operations, than this is the way to go... It is next to impossible to get into Front Office from Operations. Management is reluctant to recommend their employees to outside managers to do lateral movements within the company. There is significant amount of office politics and favoritism. Business as usual...