DTCC reviews

There are several. If you have any career ambition, I don't recommend working at DTCC. - As other reviews have mentioned, there is a distinct lack of leadership and vision. Very few people could tell you what the goals are for the company moving forward. The problem is that DTCC has a monopoly on the market, so there is no incentive to innovate or do anything different than what they have been doing for years. Once competitors catch up, the company will be in for a rude awakening. - Things move at a glacial pace and there is too much beaurorcracy. It takes forever to get anything done because it has to be approved by so many different levels of management and committees. It is like a government agency at times. - No room for advancement at all. There is a large percentage of people who are just coasting by and clogging up management positions while younger talented employees are leaving for better companies. The company would rather retain these people than promote and pay younger, energetic people. - The company has been undergoing a cost cutting program they implemented about 2 years ago. They've laid off tons of people and started shifting a ton of employees to the Philippines. My department in the Jersey City office hadn't hired anyone new for a year and a half. -People don't work together across the organization. My department had to collaborate with others on certain projects and many individuals within the company just wouldn't cooperate. If it didn't affect them directly, they wouldn't care at all.

Everything boils down to politics and I hear a lot of not my fault, not my job, not my problem. It's a very cover your butt culture. One of the major issues is that no one knows how to work together across teams. My team has been trying to get a new system approved (actually we have many other products from this one vendor, it will just be a new function). It's now been 3 months and we still have to get through at least 2 more committees to get it approved. It should not be this hard to make one change in the organization, but everything seems this way. It also seems like they don't have a whole lot of money in the bank. They just sold our non essential products and division. They are also in middle of their 4 year cost cutting plan and keep moving jobs down to cheaper areas. Problem with cheaper talent is lesser quality. They are keeping everyone that has been here for 15+ years in management positions that get paid too much to not have a clue on how to solve the problems of today. They are still hanging on to that one product they essentially have a monopoly on in the industry. Once someone else figures out how to provide that product, this company is sunk. Top management is asking for employee input on what the problems and dissatisfaction boils down to, but does not seem to have a clue on how to fix it. It seems that they are struggling to be a 2017/2018 company.