Pros
Strong sense of loyalty to the staff, so if you work well you can feel pretty secure in your position. Some freedom to innovate in your own particular sphere of influence, and a pretty good understanding of work-life balance. Access to good technology for doing your job and support to get the job done right.
Cons
There is a heavy operational focus and difficulty in setting priorities. The focus seems to be on keeping the lights on, staying at or below budget, and keeping upper management happy. These are all good things, but there's no time left over for actually "partnering with the business" or for working to move things forward. Too much focus on best of breed and customization, rather than on agility and innovation. Loyalty is sometimes practiced to a fault; some managers in key positions should be been replaced years ago. Very limited training opportunities, and career advancement is basically only through attrition.