Politics - if you want to get on with your work and do a good job then you won't get far unless you also get involved in playing the game.
Bad management - due to the promotion of staff based on personality (i.e. ability to brownnose) rather than merit, there are people who have titles above their capability level, unfortunately if you're managed by someone like this you won't learn a lot and work will get sent out with mistakes leading to the blame game.
Hours - the team was under-resourced and you'll be expected to work weekends (management assume you won't have any plans as they don't).
Culture - tight deadlines will be agreed with the client and most of your work will be 'urgent' which leads to a pressurised working environment, this links in with the bad management point as some staff haven't developed their planning skills enough.
Lack of knowledge - the basis for the compliance is to follow historic treatment and copy the prior year even if there are no reasons for this documented anywhere, you're not going to learn with this approach.
No breadth of experience - each team is an expert in a specific area, if you stay in the team for long enough and want to move to a broader role it can be difficult to show that you have a breadth of experience in terms of client base and technical issues encountered.
Lack of team spirit - it wasn't a pleasant place to work and the team weren't supportive.