Operations > Analyst

Business Description

We have designed these sections to aid you in your understanding of what Operations within Investment Banking means, the services we provide to our clients and how we are structured. In the subsequent tabs we have asked for input from our Analysts/Summer Interns and also the recruiters describe the type of person we are looking for as well as the recruitment process.

What is Operations?

Operations is the functional heart of Citi Markets and Banking; we make everything the bank does possible. It is a critical business without which the entire transaction process would come to a complete standstill. We work continuously to expand, monitor and improve the bank's ability to provide clients with lightning-fast transaction speed, pinpoint accuracy in execution with 24/7 access.

What service do we provide to our clients?

At a firm as large and global as ours, we manage the clearance, settlement and execution of more than a trillion dollars worth of trades and the movement of billions of dollars in dozens of currencies every day. We support businesses with ever-increasing volumes and ever-decreasing settlement cycles, and work with the financial products, which are becoming more complex and transactions more global.

The businesses, products and functions across operations vary substantially however at its core there are a number of critical activities without which the organisation could not operate. A typical day in many operations departments will include:

• Managing the timely and accurate processing of billions of pounds of transactions in multiple currencies and across numerous markets and exchanges

• Ensuring that shares, bonds and funds are correctly delivered to the recipients accounts and that the required funding and securities are available

• Supporting the business and customers in ensuring awareness and understanding of the myriad of non standard and complex events which impact their positions and balances such as corporate actions, income, financing, margining and collateral management, derivatives exercises and expiries and many more.

Diligently reviewing accounts to ensure all entries, movements and balances accurately reflect the trading activities and subsequent settlements

How are we structured?

Operations is closely aligned to the business areas across Citi Markets and Banking. In addition, our client base includes major financial institutions, broker/dealers, pension funds, mutual funds, Government agencies and sovereigns.

 

Roles of an Analyst

To give you a better understanding of what you can expect if you join the Operations division, we asked for some input from our Analysts. Here they describe the main tasks they undertake.

Roles an Analyst may undertake in Operations

• Analytical skills and paying attention to detail are essential in the role of an Operations Analyst. An example of this is in the investigation of claims where the ability to be familiar with references and analysing the cause of the claim can enable you to issue the claim to the correct party without wasting time and making avoidable mistakes.

• Accuracy is also very important especially when dealing with large amounts of money whereby errors could prove costly. Accuracy in terms of dates and time are crucial in making sure trades settle, as most markets have different deadlines. Whilst in account-proofing, accuracy is vital particularly when you are reconciling thousands of transactions.

• Ability to pick up information quickly is imperative especially if you have a busy workload. This can be beneficial whilst in meetings, presentations and even during training, it can result in time being saved as well increasing the speed of learning and improving understanding.

• Teamwork is a vital component of an Analyst's role in Operations, this can result in working successfully together to achieve department targets. Cross training can be very effectively utilised when colleague's workloads differ, also it can mean help is available if necessary. Good communication can result in increased efficiency and elimination of errors.

• Time management, organisation skills, as well as the ability to prioritise appropriately are priceless in an Operations Analyst's role. This allows deadlines to be met by using your time effectively. An example of this is when an Analyst worked on a project that involved rolling out the use of the single claims database to other branches, this involved training the other branches as well as loading their static data on to the system. These skills were essential in ensuring they reached their objectives effectively.

Why did our current Analysts applied to Operations?

I applied for the Operations Summer Internship in 2005 to gain an insight into Operations and the banking industry as a whole. During my internship, I worked closely with different departments within Operations and also with other areas of Markets and Banking. Having completed the internship, I decided to pursue a career in Operations and I gained a place on the Operations Analyst Programme 2006. The Analyst Programme gives graduates the opportunity to work on different rotations. This was one of the main attractions for me, as it has further enabled me to decide which area I would ultimately like to work in. The structured training, combined with guidance from my mentor has been invaluable and I have really enjoyed working here. Ed - joined 2006

I completed my summer internship with Citi in 2004. This was a perfect opportunity to experience living and working in London. It gave me exposure not only to the different departments within Operations, but also to the rest of the Corporate and Investment Bank, thus giving me the ability to make an informed decision about my career. The Operations Analyst Programme is designed to develop the management of the future, which really appealed to me, and it hasn't disappointed. During my time with Citi I have been given a great deal of responsibility, which will prepare me for management in the years to come. Clare - joined 2005

 

Our Programmes

Full Time Programme Overview

The one-year Operations Analyst Programme commences with a week of classroom-based training before you start in your first 6-month rotation. Rotations are offered across all of Operations to ensure you gain excellent exposure and wide experience of the different divisions whilst you are on the programme. You will also have an intensive week of training after the first rotation ends before you start your second 6-month rotation which includes team building, product and industry training, business specific training and personal development.

In addition to the above training, you will also be required to study towards the Securities Institute Investment Administrative Qualification (IAQ). It is a course that is recognised by the Financial Services Authority (FSA) and is designed to provide you with a further understanding of the industry, securities and investments business, and the regulatory environment.

Summer Internship Programme Overview

Internships within Operations last for 10 weeks and we use the internship to recruit for the Operations Analyst Programme.

Before your Internship Programme commences, you will be sent pre-course training, which aims to prepare you for the training you will be required to do in your first week.

You will set business and personal objectives within the first week of your internship with your manager. These will then be reviewed during and at the end of your internship and regular feedback will be given on your performance.

To support you during your Summer Internship, the Programme is structured to deliver specific training in key skills, which will not only develop you as an individual but also help contribute to successful completion of your objectives. This includes training sessions on teambuilding, business communication, time management and presentation skills. You will attend an orientation into the company where you will hear overviews of various businesses across Citi Markets and Banking. The orientation will also assist you in gaining an understanding of the products and services offered by Citi Markets and Banking and you will see how the Operations division works alongside the business to improve the service and products delivered to customers.

Your training will continue throughout the summer with a mixture of classroom-based training, business awareness sessions and presentations and on-the-job learning as you work towards completing the project you are assigned to do. Whilst you will be 'thrown in at the deep end', a challenging way to learn, you will be supported by your immediate team who are always ready to help. From the onset of your internship, you will also be assigned a buddy to assist you in your day to day work and generally help make your transition into the workplace that much easier.

Finally, you will participate in a number of networking events and social activities. These will provide you with opportunities to get to know other interns, recent Analysts and meet senior business professionals, not only in the Operations division but also in other areas of the Citi.

 

Who we are looking for

Going forward we see our business continuing to flourish, and the challenges and opportunities facing our clients around the world mean challenges and opportunities for our people. We are looking for people who can face these challenges and help us to continue to succeed and meet our business goals.

We are unwavering in our commitment to investing in our Analyst programmes. We ensure that they have superior financial knowledge and are equiped with the necessary skills to successfully develop and maintain profitable client relationships.

Change as a constant factor provides operations professionals with regular opportunities to re-assess existing processes and working practices. Those who can successfully leverage such opportunities will be able to detail practical recommendations and solutions which at one end of the scale will result in improvements to efficiency and/or customer service and at other provide a vision for substantial process re-engineering or restructuring.

We asked our Operations Recruiters to describe what makes a good candidate and what specific skills they are looking for:

We are seeking highly motivated candidates with a broad range of backgrounds. We are looking for evidence of numeracy, analytical skills and logical thought processes as key skills. Candidates should also possess demonstrable attention to detail and have good analytical skills. Adaptability, a willingness to get involved at every level and the ability to pick up information quickly is essential.

The division is a meritocracy and team-based, with an 'everyone-pulls-together' approach, so we want people who enjoy working in teams. There is a 'no blame culture' so if something goes wrong the onus is on finding out what went wrong then taking whatever steps are necessary to fix it and prevent its recurrence.

In summary we are looking for people who want a real challenge and the scope to demonstrate their abilities in a demanding and dynamic environment.

Some of the key skills we look for are:

• Strong communication skills both verbal and written

• Focus on the detail and quality of work they produce

• Practical, logical and use their common sense in decision making

• Recognise that seeking advice and support is a strength

• Are both comfortable and enjoy the challenge of working in a complex environment

• Are strong contributors who can grasp the detail of every aspect of their role, business and customers needs

• Thrive on change

 

 

 

Recruitment Process

Analyst Programme

The closing date for full-time applications is the 4th November 2007

Our interview process for the full time programme will commence in October 2007, for summer internships it will commence in January 2008.

Below is an outline of the recruitment process from application received to offer:

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

Stage 2: Invited to an online Numerical Reasoning Test

Stage 3: First round interviews:

               Two 1:1 competency based interviews

               Numerical Reasoning Test and Clerical Checking Test 

Stage 4: Assessment Centre

               Two 1:1 competency based interviews

               Written Case Study Analysis & Group Discussion

Stage 5: Offer extended by the Graduate Recruitment Team; follow up by the Business

Summer Internship Programme

The closing date for summer internships applications is the 20th January 2008

Below is an outline of the recruitment process from application received to offer:

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

Stage 2: Assessment Centre

               Two 1:1 competency based interviews

               Written Case Study Analysis, Numerical Reasoning and Clerical Checking Test & Group Discussion

Stage 3: Offer extended by the Graduate Recruitment Team; follow up by the Business

 

Where

London: Full-Time Analyst and Summer Internships

Edinburgh: Summer Internships

Belfast: Full-Time Analyst and Summer Internships

Our People

Edward Hebblethwaite BA (Hons); German and Business Studies, University of Warwick Analyst

If asked about your career at a dinner party, how would you describe it?

I have had the opportunity to work on rotations, enabling me to experience and learn about very different areas of not only Operations but also Citi in general. I have worked in OTC Derivative Operations, Global Strategy and Business Re-engineering, UK Loans Agency (Loans Syndication) and Corporate Actions. All of these roles have been very different and have presented numerous challenges. I am currently working in the Enrichment Unit for Corporate Actions. I would describe a Corporate Action, in simple terms, as any event that affects the shares held in Citi’s custody. I work in the client services team for all European Domestic markets and I deal specifically with several large clients.

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

Having worked in 4 different teams, I have had the opportunity to meet and work with some extremely knowledgeable and highly motivated individuals. Each team has been in a different product area and has required a different knowledge base and skill set. However, all of my previous colleagues have had specialised product knowledge, a procedural expertise and the ability to establish a client’s needs and requirements and deliver on these.

I am currently working in Global Transaction Services Operations in the client services team of Corporate Actions. My team deals with all European domestic markets and such knowledge of the different market conventions is very important. My colleagues are extremely specialised in the different markets that their clients have shareholdings in and are highly effective relationship managers.

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

I liaise with the different European Corporate Actions teams, the Euroclear team, stock lending, settlements and product control.

What skills have you found to be the most useful in your position?

Attention to detail is vital, as is the ability to listen well and pick something up quickly. It is also essential to be able to interact well with others and build relationships with colleagues, managers and clients. In my current position, it is very useful to be able to speak foreign languages. My knowledge of German helps me greatly.

What non-work related activities do you get involved in through Citi (community, mentoring, charity)?

I am a member of Citi Hockey, the mixed field hockey team that trains weekly throughout the year and during the summer plays bi-weekly in a league against other banks. We have also taken part in several competitions representing Citi. This is a great opportunity to meet different people from all over the London office.

I am also planning to take part in a charity day in the local community this year.

How did your summer internship help you make the decision to pursue a career at Citi?

The Summer Internship was an excellent insight into the world of banking and Citi. The structured 10-week programme comprised of weekly training sessions, breakfast presentations from all of the different businesses in the Investment Bank and numerous social events, which were great opportunities to meet other summer analysts. The learning curve was extremely steep, but after completing the programme, I decided I wanted to pursue a career in the industry. In fact I enjoyed it so much, I extended my internship and stayed for six months before leaving to go travelling!

 

 

What advice would you offer prospective candidates on transitioning from school to the workplace?

I would advise prospective candidates to research a business area that interests them, go along to campus careers fairs and ask employers lots of questions about what the job entails and finally I would urge them to apply to become a summer analyst to see if they actually enjoy the job. Be prepared to work hard and prove yourself when you’re here and take every opportunity that presents itself.