Global Transaction Services > Analyst

Business Description

We have designed these sections to assist you in your understanding of Global Transaction Services, the services we provide to our clients and how we are structured.

What is Global Transaction Services (GTS)?
Global Transaction Services (GTS), a business unit within Markets & Banking, is a leading provider of Cash Management, Trade Services and Finance, and Securities and Fund Services. GTS provides innovative banking solutions to more than 65,000 financial institutions, corporate clients and public sector entities around the world. With a global network spanning over 100 countries, GTS offers a broad range of cash management, treasury, trade, custody, clearing, depositary receipts and agency and trust services.

Our global platform is unique in the industry for its reach, interoperability and flexibility. It provides clients with timely, accurate information and dynamic, web-based tools to effectively manage their securities portfolios, financial positions and supply chains. Our consultative approach and focus on relationship banking enables us to help clients address strategic financial and operating issues, such as working capital and liquidity management, asset management, treasury integration and exposure and risk.

GTS consists of three core businesses: Cash Management, Securities and Fund Services and Trade Services and Finance.

What services do we provide to our clients?
Global Transaction Services offers a broad range of cash management, treasury, trade, custody, clearing, fund administration, securities financing, depositary receipt and agency and trust services. Our global platform is unique in the industry for its reach, interoperability and flexibility. We provide clients with timely, accurate information and dynamic, web-based tools to effectively manage their securities portfolios, financial positions, working capital and supply chain around the world. Combined with a worldwide network of dedicated and experienced transaction services professionals, Global Transaction Services is well suited to serve clients anywhere they do business.

Examples of our broad spectrum of solutions:

• We are the commercial bank to corporations. We help them make and receive payments, optimize their working capital and efficiently connect their financial supply chain. In short, we help treasurers efficiently manage the liquidity in their balance sheet and provide open account credit that facilitates trade with their suppliers and distributors.
• We operate one of the largest proprietary cash and securities clearing networks in the market, and provide "correspondent banking" and securities clearing and settlement solutions to other financial institutions, particularly banks and broker-dealers.
• We provide middle and back office solutions, from fund administration, global custody and fiduciary services to shareholder administration (also known as transfer agency) and securities lending, to asset managers, pension funds and hedge funds. Increasingly, pensions funds and asset managers trade derivatives as part of their portfolio, and we are one of the first in the market with the capability to extend OTC derivatives processing support to this client segment.
• Our agency and trust business supports note issuers in the capital markets, M&A and asset securitization deal-makers, corporate consortia, and more, with paying agency services and corporate trust facilities.
• We deliver operating efficiency to public sector entities. We provide postal agencies with banking infrastructure for their post-banks, extend securities lending and cash management to central banks and help utility companies consolidate and reconcile payments from their end-customers.

How are our products/solutions organized?

GTS consists of three core businesses: Cash Management, Securities and Fund Services and Trade Services and Finance.

Cash Management
Cash Management delivers treasury solutions that empower our clients to optimize visibility, connectivity and control, enabling them to enhance their financial performance. We are one of the largest processors of cash flows globally. Cash Management offers clients over 50 global services, spanning Payments, Receivables, Liquidity and Investments, Information Services and Commercial Cards, all supported by ten regional processing centers worldwide. We lead the industry in our ability to provide global solutions, using award-winning, innovative platforms supported by local experts in markets around the world. Our clients include corporations, financial institutions and governments. The business has been recognized for excellence by many publications including Euromoney, The Banker and Global Finance.

Trade Services and Finance
With the largest trade services network in the world, spanning 72 countries and 104 cities, Trade Services and Finance offers a broad range of solutions that meet our global trade clients' needs. From risk mitigation to financing, settlement to information, Citi's trade experts and four regional processing centers offer around-the clock operations support and deliver world-class solutions to suppliers, buyers and financial institutions. Trade Services and Finance meets the needs of both importers and exporters by providing industry-leading settlement, effective risk mitigation and innovative trade finance solutions - enabling them to safely expand their cross-border trade business around the world.

Securities and Fund Services
Securities and Fund Services is a leader in domestic and cross-border transaction services for the world's investors, intermediaries and issuers with more than $10.4 trillion in assets under custody and trust. Offering the industry's largest proprietary network, Citi consistently ranks as the premier choice for custody, clearing, securities finance, global agency and trust and depositary receipt services in more markets than any other bank, according to industry surveys. Investment managers, broker-dealers and global custodians rely on Citi for authoritative market intelligence, state-of-the-art processing capabilities and responsive client service.

Fund Services is a leading service provider to the global mutual fund, hedge fund and offshore fund industries. Citi has provided turnkey fund services solutions to the investment industry since 1986. Operating in 18 countries, Citi's primary fund administration centers are located in Portland, Maine; Toronto; Bermuda; Edinburgh, U.K.; Dublin, Ireland; Luxembourg; Warsaw; Singapore; Hong Kong; and Tokyo. These operations centers provide a comprehensive set of services to all investment fund structures.

Roles of an Analyst

To give you a better understanding of what you can expect if you join Global Transaction Services, we asked for some input from our Analysts. Here they describe the some of the roles they have undertaken throughout the Program.

Roles an Analyst may undertake:

Product Management
Manage and develop the products that GTS sells to our clients across the three product areas of Cash Management, Trade Services and Finance and Securities and Fund Services. You will develop detailed knowledge of the products and work on projects to analyze business opportunities and associated financial impact. For example: analyze revenue streams and the wallet-size of a particular market to aid in the implementation of new products.

Sales
This is your chance to get first hand experience of working with Citi's clients. You will learn to understand a client's needs and work across the businesses in GTS to structure solutions to meet their requirements. You need the ability to build strong, long-term relationships with clients and develop your understanding of the market your client is operating in.

Operations
This is what makes the transactions services business ‘tick’ behind the scenes. In this team you will be a core part of our infrastructure and ensure we have the processes in place to deliver on the deals we make. You will see how your product ideas, deals won and solutions implemented are achieved. Working in Operations helps develop your project management, process management and staff management skills.

Client Delivery
This is where the deals won by the Sales team move into action. From the minute a deal is won, the Client Delivery teams take over, managing the implementation and day-to-day processing. Working in Client Delivery, you will see how things work on the ground with the client. You will see how a solution is implemented with the client, how we work with clients on the application of solutions and how we advise clients on how to optimize their business practices.

Examples of what their areas do:

Cash Management
Example:
A corporate customer operating globally faces numerous financial challenges. Citi can offer these companies a solution that will help them optimize their working capital. For example, our payments products will help them manage how they pay employees, vendors and account holders. Our liquidity products will help them to invest any surplus cash. And our technology platform, including CitiDirect® Online Banking and TreasuryVision®, provides visibility and equips them with a powerful interface to monitor their cash accounts and execute transactions.

We provide cash management and processing services to governments and public sector entities. A government department is responsible for making pension and welfare payments to beneficiaries around the world. Citi efficiently handles the delivery of these payments globally.

Trade Services and Finance
Example:
International trade is the cross-border movement of goods and services that develop from a business transaction between a buyer in one country and a seller in another country. Facilitating cross-border trade has always been one of the most important and traditional roles of the bank - and today, more than ever trends demonstrate that this role has taken on even greater significance:

Global Trade has quadrupled in the past 20 years, and doubled in the past 10 years.
9 out of 10 mid-size and large global companies state that they now do business in China.
Companies are most concerned about the longer and more unpredictable lead times of going global - and these lead times are making them less responsive to market demands.
The second biggest worry is unanticipated supply chain costs, which are often caused by documentation errors and logistics "hiccups." Supply chain management costs represent more than 10% of cost of sales. Citi plays a role in all of this as we help bring together buyers and sellers to supply needed goods and services across cities, states, countries, and continents. With the decline of the traditional documentary methods of trade such as letters of credit, clients increasingly call upon us to add value by managing and reporting on information flows, by assessing and mitigating risk, and by providing new forms of financing.

We come to our customers with extensive knowledge of trade flows, legal and regulatory requirements, and country specific information. Trade Services and Finance offers the broad range of solutions that meet our global trade customers' needs – all delivered by our global team of trade experts and an array of products that help importers and exporters conduct, monitor, and control international commercial transactions as well as mitigate their associated risks.

Securities and Fund Services
Example:
Investment companies manage mutual funds, trust investments, separately managed accounts and pooled institutional assets. Investment companies manage these assets in a series of portfolios, but execute trades across all at once. We offer clients like these a suite of Asset Manager Solutions that automate or outsource all or some of their operations, which enable the company to focus on their core competency (managing money). Through our Asset Manager Solutions we are able to partner with our clients to improve efficiency, meet regulatory requirements and provide access to new markets.

A client of Citi (i.e. corporation, investment manager, government agency etc.) is a participant in several financial markets around the world. This client needs to buy and sell securities, collect income (i.e. dividends and interest payments) and respond to corporate actions for the securities they own. Citi has clearinghouse memberships with all major financial institutions around the world and a host of developing markets. Citi also has the largest network of banks or agent banks with locations in 110 countries. This elaborate infrastructure allows our clients to perform securities transactions around the world from one location or multiple places if needed.

Our Programs

Global Transaction Services in North America has two programs you can apply for:

• Full time Analyst Program 
• Summer Analyst Program

Full time Program

The Global Transaction Services Analyst Program commences in July and spans two years. The program is classroom based, and offers an initial seven-week “boot-camp” style training period where you will gain in-depth training in accounting/financial reporting, technical training, credit/risk, and financial analysis.

At the conclusion of training, full time analysts have an understanding of the Global Transaction Services business and its various product lines, and will be well prepared for their placement into the business.

Following classroom training, Analysts will be placed into one of the business divisions: Global Cash Management, Global Trade, or Securities and Funds Services. As part of their development after placement, Analysts will rotate for approximately one month each through the Operations and Client Delivery divisions, appropriate to the business line in which they are placed.

At the end of the second year, top performers will have the opportunity to apply to a competitive global rotation. Alternatively, they may remain in their current division for a third year with expanded responsibilities, or pursue another assignment within another product line of the business.

Analysts who successfully complete their third year will be given the opportunity to apply to the full time associate level training program.

Summer Program

The Global Transaction Services Summer Analyst Program spans ten to twelve-weeks. You will be placed on an assignment within one of the four GTS business areas located in New York: Global Cash Management, Global Trade Services, Securities Services, or Fund Services. Assignments may be available in Chicago, Miami, Los Angeles and San Francisco, pending business need.

The type of project and deliverable vary for each Summer Analyst according to placement and business need.

Summer Diaries

Name:  Rohan Chatterjee
Group:  Cash - Global Receivables
School:  Carnegie Mellon University

Week 1 & 2

I had a great first impression of Citi - everyone was so friendly! Upon arriving at Citi for the first time, we were immediately treated to a welcome lunch where we met our fellow Analysts and were introduced to the company. We learned all aspects of the GTS business in a training day, which highlighted the different divisions within the company. A welcome reception that evening allowed us to meet with all of our coworkers and get to know them personally before truly diving into our work. My junior and senior mentor met me for lunch, and later we saw a show, The Blue Man Group. We were given numerous opportunities to network with members of our team.

As for the work itself, I was thrown right into the fire! My manager had an important study that he had lined up for my summer project. On the first day, I established a project plan of how I would tackle my report from the research phase to the actual writing of a formal document. My manager gave me daily feedback as I delved into the research. While frustrating at times, I was able to gather significant data that served as the backbone for my report.

Week 3 & 4

Now that we were settled into the routine of work, my project began to take shape. With research continuing, my manager and I determined how we would approach the report given the available data. I was also handed one-off product-specific projects to help other members of the team, in addition to my overlying summer project. I was starting to see some results from my work.

Through this, they didn’t forget to show us a good time. We had an opportunity to explore New York City through a scavenger hunt in Times Square. It was strange at first, but we were able to see everything that NYC has to offer (e.g. random street performers, restaurants galore, bars, clubs, tourist destinations). This scavenger hunt served as a sneak preview to what we could experience during the summer.

Week 5 & 6

It was hard to believe that we were already halfway through the summer. My manager and I met for my mid-summer review. We discussed my work, the positives, things that could improve, and how to move forward. The constant feedback I received was a very valuable part of the internship.

The first set of distinguished speakers and lunches with high-ranking executives in the businesses was exciting. The speeches allowed us to hear from some of the brightest minds in the business, but it was the lunches that were invaluable. Some of the most important people in the company met with us in small groups making the experience more intimate. They discussed their views of the business and gave us advice on how to succeed in Citi and the business world as a whole.

Week 7 & 8

Now my project was getting into the final stages. The data was gathered, the analysis was complete, and it was time to start building the report and presentation. My boss insisted on presenting my work to upper-level managers in the business. The team ensured that I was recognized for my efforts during the summer. I was really thankful that they gave me this opportunity. Now I had to make sure the report and presentation were top-notch. In addition to my main project, I was given smaller tasks to complete at a faster pace. Citi showed us a “work-hard, play-hard environment.”

Numerous events were set up by the Graduate Recruitment team to reward us for our hard work (receptions, dinners, lunches, bowling, etc). This internship exposed us to all the exciting things that New York City has to offer.

Week 9 & 10

The final push! After the final touches, I presented my project to upper-level managers and my direct team. They were very encouraging during the presentation and applauded my efforts. It was nice to see all my summer’s work come to fruition and receive such respect. I was given a great opportunity to succeed and I did! All the interns were treated to one final evening of fun: a boat cruise around Manhattan. We got to soak in the view and reflect as a group on all the fun times this summer. It was hard to believe it was all over.

Name: Basant Kaur
Group: GTS Securities Finance, Product Control
School: Johns Hopkins University

Week 1 & 2

Right from the start, I found Citi a great place to work. One of the best things about Citi is the extraordinary amount of diverse people who work here. The diverse backgrounds, both academic and personal, of those in my Summer Analyst Class made training and interacting with the Class an enriching and fun experience. I also found everyone to be extremely helpful and forthcoming.

I was assigned to work at the Wall Street office. Admittedly, on my first day of work, I felt a huge rush as I walked down Wall Street. (I did realize later that Tribeca had better restaurants!!)

Week 3 & 4

I was assigned my summer long project on my first day of work. Over the next two to three weeks, I obtained: a) a good understanding of the business, b) a good grasp of the problem that I had been assigned to work on, c) an understanding of the parties involved through participation in the meetings that my managers had already set-up and d) familiarity with the daily deliverables that each party was responsible for.

Over the summer, I came to lead the meetings that my managers had originally set up. I also prepared the minutes of those meetings.

During this time, I had the chance to meet with my Junior and Senior mentors, as well as my Analyst Buddy. I would say with confidence that I have formed a good relationship with both my Senior and Junior mentors.

Week 5 & 6

By the time of my mid-summer review, I had a very good grasp of my project and what needed to be done to resolve the problem. I was also in charge of running the daily processes which report the status of the trading desk in terms of assets lent. In other words, I was responsible for the daily deliverable that my group had to send out each evening. My mid-summer review was very encouraging.

Week 7 & 8

At this time the Distinguished Speaker Series really picked up. Personally, I found Michael Klein to be very inspiring and extremely well informed. I also put together a document outlining the project problem, as well as the solutions/recommendations to the problem.

Week 9 & 10

Since my presentation was scheduled for Week 9, I started work on it by week 8. The Final Presentation went off very well and I was encouraged to see so many people attend my Final Presentation, including my Junior Mentor.

My internship experience was especially rewarding since I was assigned to work on a dedicated project. This ensured a sustained interaction with people across Citi (in Operations, Technology, Financial Control and the Front Office). I was also able to make meaningful recommendations to address the problem at hand. This was very satisfying.

My team at Citi is what made my experience all the more enriching. Not only did they take out time to explain problems at great lengths to me, but they also guided me as I looked for potential solutions. They were also very supportive in times when I felt frustrated about the lack of progress on the project. Truly, the best thing about Citi is the people I have worked with and the people I have had the opportunity to interact with over the summer.

Who we are looking for

We asked our GTS recruiters to describe what makes a strong candidate and what specific skills they are looking for.

We are seeking candidates who are highly motivated and have superior academic achievement in a wide variety of disciplines. We welcome applications from all backgrounds. In order to succeed, you will need to use your business awareness, analytical and relationship building skills and be self–motivated, pro-active and independent. You will thrive on change, have a capacity for incorporating ever-broader areas of knowledge and enjoy networking.

Some of the key attributes of a qualified candidate are:

• Excellent academic background
• Strong communication and interpersonal skills
• Analytical skills, results orientated and innovative thinking
• Excellent team player
• Strong understanding of the Financial Industry

Recruitment Process

Full Time Analyst

Markets & Banking begins the formal full time recruiting process in early September in the form of an on-campus presentation. All students are invited to attend this event to learn more about the culture, the business and the people at Citi.

Following that, job descriptions are posted through university career centers. After all resumes have been collected, a closed, targeted list of first round interview candidates is compiled.

First round interviews take place on-campus in mid to late September and successful interviewees are invited directly to final round interviews (Super Days) in October. Citi on-campus interviews are typically 30 minutes; Super Days typically consist of three, 30-minute interviews. Offers are extended as soon as possible after the Super Day concludes.

Summer Analyst

Our summer Analyst recruiting begins in January in the form of an on-campus presentation. All students are invited to attend this event to learn more about the culture, the business, and the people at Citi.

Following that, job descriptions are posted through university career centers. After all resumes have been collected, a closed, targeted list of first round interview candidates is compiled.

First round interviews take place on-campus in mid to late January and successful interviewees are invited directly to final round interviews (Super Days) in late January to early February. Offers are extended as soon as possible after the Super Day concludes.

The following summarizes the stages of the Analyst recruitment process:

Stage 1: Application is reviewed by Graduate Recruitment and the Business

Stage 2: First round on-campus interview.
                One, 30-minute interview

Stage 3: Final round interviews (Super Day)
                Three, 30 minute interviews

Stage 4: Offer extended by Graduate Recruitment team

Please note: Final round interviews (Super Days) take place in the office where the position is located (i.e. if applicant is interviewing for a position in NY, the final round will take place in the NY office).

Our People

Brenda Torres Fordham University, B.S. in International Finance with a concentration in Marketing Regional Latin America Sales Manager

How would you describe your team and the people you work with?

Surrounding oneself with good people helps pave the road for success, and it is evident that Citi aims to ensure its success and longevity by hiring the best people around the world, while cultivating a family atmosphere. The people that I work with are immensely intelligent, worldly and above all supportive, contributing daily to my career development, and business knowledge.

What do you consider Citi's competitive edge?

Citis people resources coupled with our global footprint gives us a standing unsurpassed by any other financial services institution in the world. In the international arena, Citis name is synonymous with innovation, boldness and prestige. Specifically, in Latin America, our partnership across 21 markets allows for great synergies and unique positioning of our brand, and our people.

What other groups do you liaise with regularly within the Firm?

Our focus is the client, and therefore corporate banking is not limited to one function. When we approach a client we do not limit our offering to only our particular product family or solutions, but instead present the synergies of the bank collectively alongside our peers across the bank in order to provide the client with the best fit for their business. To achieve this we liaise with the full breadth of the bank at a local, regional, and global level including but not limited to investment bankers, credit and risk officers, foreign exchange sales & trading, global relationship bankers, global marketers, etc.

How do you apply your degree to what you're doing now?

My degree in international finance is directly related to my responsibilities today. On a daily basis we are analyzing a clients approach to business, and what impacts the decision making process which those global CFOs, treasurers, and corporate officers undertake.

What do you enjoy doing outside work?

I enjoy taking yoga and dance classes, and when I can’t make it to the classes, I love going for a run. I also love watching movies with my two puppies, Sophie and Nina and spending quality time with my friends and loved ones.