Pros
The job involves monitoring media sources from different countries. This means you get to follow the news very closely from whichever country or countries you are following - far more than if you simply looked at the usual global media. BBC Monitoring is one of the departments of the BBC, which means you get regular access to information about job openings in other parts of the BBC. A great place for work-life balance. The management are generous with leave. Unlike in other media jobs, work hours are defined and predictable - so it's great if you have a life outside work. Colleagues are generally polite and helpful, and one gets to meet people from around the world. If you are lucky, you may even get a chance to travel to another office in another country.
Cons
The organisation is facing severe financial difficulties, and is struggling to remain relevant. The organisation also has a culture of debating things endlessly instead of moving as fast as it should. For every suggestion you make, there will be someone raising an objection. However, the struggle to survive has finally brought about some changes in the organisation. These may possibly be too late to avert the organisation's existential crisis. As a result, job cuts a few months from now are more or less guaranteed. This may not be a great time to join. Scope for vertical career growth also appears to be limited, as editorial staff cannot rise beyond a point unless they succeed in getting into the management (assuming they want to do that). The only option for most people is to seek out lateral growth or opportunities elsewhere in the BBC. The interview process for promotions appears to be flawed. Despite seeming like a well-designed process on paper, the reality is that deserving colleagues often fail to get promoted while people who can talk their way through interviews rise regularly. A recently introduced written test seeks to mitigate this, but managers are yet to apply it consistently. For this reason, it's great to have it on your CV, but not to get stuck there forever.