Expectation: "Great Place To Belong."
Reality: Meh. Not so much.The good thingsThe very comprehensive HMO coverage, the superannuation (your forced savings) plan, and the free fresh fruits on Wednesdays.
The challengesEverything else.
The Institutional Operations is a bumbling behemoth that will suck your soul dry. You will be endorsed to production despite the training lead explicitly telling you on the last day of training that they are not confident in your capabilities. And in spite of what's listed in your job description, you are not able to make judgement calls on your own (even if it's to the customer's benefit) without any permission or approval from your managers; so much for First Contact Resolution. They will also not hesitate to throw you under the bus when you are pitted against branch bankers, even if you are in the right.
And don't get me started on NFRs ("Non-Financial Risks"); or rather, operational and procedural risks aimed not at protecting their customers, but the bank and its reputation.
You might be earning a hefty paycheck, but be prepared to stagnate in your role. A regular teller at a local bank has more leeway than a "senior officer" at ANZ's Institutional Operations.