Pros
Working at CIS in the software group has been an excellent experience. There are many applications to work on, each with its own unique challenges, and there are always new projects on the horizon. The small team atmosphere is very collaborative, and the personalities of the group mesh well. I would highly recommend a position here, especially if you are just out of school and seeking a strong foundation in many skills. There are no specialists in the group, and because of that, you will gain experience across the spectrum of web application development.
The software management is very reasonable, and work/life balance is great -- crunch times are rare. The company is definitely growing, and seems to be breaking into ever larger contracts, meaning opportunities for growth should exist, both in terms of career and in technical challenges.
Cons
Don't expect to be spoon-fed what to do. A large part of success in the software group is acting autonomously and working with business users directly. This can be both rewarding and at times frustrating.
The business domain is also fairly conservative (meaning "controls" and "processes" are part of the picture in software management), although I imagine this can be much worse in other industries.