CitiMortgage > Graduate

Business Description

CitiMortgage is a top-three national mortgage lender originating first and second residential mortgage loans in Retail, Broker and Correspondent origination channels. Our headquarters is located in St. Louis, Missouri. CitiMortgage is a member of Citi and focused on providing the highest quality mortgage products as part of Citi's expansive portfolio of financial services that also includes banking, insurance, asset management, credit cards, and much more.

We’re dedicated to making the dream of homeownership come true for a wide range of customers and partners across the country every day.  We help first-time homebuyers, those interested in building a new home, and those refinancing or tapping into the equity built up in an existing home.

We specialize in matching the right product to fit your unique needs both now and later in life.
As member of Citi, CitiMortgage has the strength and stability that goes with being part of the leading global financial services company. CitiMortgage has been one of the fastest growing mortgage companies over the past five years.

Our Business areas include:

Mortgage Retail Lending Sales*
Mortgage Wholesale/Broker Lending Sales*
Correspondent Lending Sales*
Risk Management/Credit Policy*
Finance*
Real Estate Operations*
Portfolio Management
Secondary Marketing
Marketing
Human Resources
Franchise Management

*MA’s have rotated in these businesses in the past. 

Roles of an MA

Dapo Olagundoye
Management Associate Alumni

The value of the MA program is in the integrated learning possibilities from its balanced business rotation proposition, coupled with significant senior management interaction and the real prospect of working on high visibility and bottom-line defining projects.

What has been most thrilling about being in the MA Program is the holistic nature of several projects I have worked on thus far. The value is in the combined learning from different areas of the business and the logical tie between the projects-continuously gaining a greater appreciation for the workings of the industry my employer is in-the mortgage banking industry.

While in the program, I was engaged in assessing CMI’s corporate commitments - emphasizing the need to gain efficiency throughout the value chain-all the while underscoring the need to gain efficiency in certain areas of the business. I built a model to interpolate the yield curve, developed spread-based pricing models for the Wall Street channel, and ran daily hedge batch on CMI's global position. Other logically connected projects are the building of a WAC solver for Private Label Securities and the development of a training manual on the “Science and Art of Pricing Mortgage Loans".  All these projects lent great clarity and understanding to how the industry works.

In my last rotation, I had the fortune of working on an initiative to build out the concept and strategy around a cross-sell proposition. It was a thrilling, rewarding and a high exposure project with significant strategic implications for the channel involved. Today, I am permanently placed in the same channel in a Sales Planning capacity, helping to develop strategy for deploying a consisting approach to performance management, sales process planning and sales force effectiveness.

I see the MA program as one big project with numerous sub-projects that contributes towards a comprehensive understanding of the whole.

The desire to learn by taking on challenging assignments usually determines success in the program. Ask questions, push the envelope whenever appropriate and seek ways to improve business processes and results. Seek to continuously raise standards across the organization during your rotations. Never be afraid to fail for it presents an opportunity to learn and improve. Continually develop your relationship-building skills. Since it is a management development program, technical know-how and abilities are just not enough to succeed in the program. Learn to work well with others. In the middle of all the hard work, find time to have some fun.

Bo Bradstreet
Class of 2006

I joined CitiMortgage in June 2006 after graduating from Indiana University, Kelley School of Business. Top-down growth initiatives, unlimited cross-sell opportunities, and broad exposure (rotations) to a new industry were extremely appealing and reasons why I was attracted to the program. The entrepreneurial spirit (change management) was evident during the interview process and extremely motivating.

In my first rotation I worked on a delinquent tax / escrow reconciliation project to determine tax payment responsibility and payment verification. The project transcended cross-functional groups as well as external partners (joint ventures and customers). The challenges were strategic and tactical opportunities requiring my ability to stretch and acclimate to attain targeted goals. Overall, I standardized data collection for buy-down, escrow, and tax related issues, created a new Tax Information Sheet and rush tax payment process, and presented senior management with two tax verification options.

My second rotation had many assignments including completing a GAP Analysis for Real Estate Lending Risk Management, creating a new Broker Premium Recapture (BPR) business model and conducting a control environment review of REL Repurchase. During this rotation I reported to the Business Risk & Control Director, Consumer Lending Group and presented recommendations to the CEO of both CitiMortgage and Citi Home Equity. The obstacles in this rotation created the need to change strategies, make improvements, and implement solutions. These projects reinforced my leadership skills and provided the opportunity to apply acquired knowledge with theory, the results delivering a positive impact to the bottom line.

Currently in my third rotation, I support the Sales and Pricing/Profitability functions in the CitiMortgage Broker Channel. I am presently working on the rollout of Salesforce.com nationally, a Customer Relationship Management tool. In the next few months, I will be consolidating CitiMortgage and InterFirst (AAMG acquisition) pricing to one platform, redesigning the pricing portal, and conducting product development/market analysis. On a daily basis, I interface with the senior leadership team in the Channel and participate on calls/meetings with key decision makers from other internal departments.

The Citi culture is collaborative, fast-paced, and customer-centric. Achieving end results would not be possible without becoming a change agent and driving implementation.

Our Programs

The 2008 CitiMortgage Management Associate class will begin in June. Located in St. Louis, Missouri, this two-year accelerated program is divided into four, six-month rotations that will enable the MAs to learn about the business model, products and functions of the business. The business rotations provide challenging stretch assignments that maximize the MAs intellectual capacity, provide learning opportunities that will build on their competencies, address critical business issues and focus on various functional business areas, such as operations, finance, sales, and risk management. These rotations are determined based on the MAs individual background, experience, interest, and business need.

The program offers exposure to top leadership, including mentoring by our senior business leaders. To enhance leadership development, Management Associates will gain broad experience across functions in addition to exposure to different operating styles.

After successfully completing the program, Management Associates typically take on a challenging position based on their strengths, interests, and the needs of the business, while also continuing develop their leadership potential.

Who we are looking for

CitiMortgage recruits top-level graduate candidates who have demonstrated outstanding academic and professional achievement, as well as possess high personal standards.

• Graduate Degree with a concentration in Business Administration, Finance, Real Estate, Operations, Strategy or General Management
• 3-5 years of progressive work experience, ideally in the financial services industry
• Demonstrated leadership and passion to further develop leadership potential
• Strong critical thinking skills
• Business and personal maturity
• Demonstrated quantitative and qualitative analytical skills
• Excellent communication and relationship-building skills
• Integrity, innovation, and imagination
• Flexibility and adaptability to changing business needs

Recruitment Process

In order to be considered for this program, you must apply online. Please also apply through your university's Career Services Office. Only applications submitted through both systems will be considered.

Where

Management Associate opportunities for this program are available in St. Louis, Missouri.