Country Management Program > Analyst

Roles of an Analyst

To give you a better understanding of what you can expect if you join the Country Management Program, we asked for some input from our Analysts. Here they describe the main tasks they undertake as well as their career progression and some advice for future candidates. 

Name: Maryla Buchacz
Title: Associate
Business Area: Fixed Income, Currencies and Commodities
Degree/School: Ms in International Economic Relations, Warsaw School of Economics, and Ms in International Management, CEMS (Community of European Management Schools)

Major: Finance

Areas that interested me the most during my studies at Warsaw School of Economics included corporate finance and financial markets, so therefore I knew, that if I was to participate in the Management Program at Citi Handlowy in Poland, it would have to be within the Markets & Banking business…. I filed my application, passed the recruitment process and now, after four rotations and two years of the Program, am permanently employed in the Securitization Products and Infrastructure Financing Bureau in the Treasury Department. My job as Transactor is to participate in the pitching, preparation and execution of asset backed securities (ABS) and structured bonds transactions. In my daily job I cooperate not only with the customer, but also with the Product Specialists in the London Citi office, the internal Legal Dept., external law firms and auditors, and with rating agencies.

My first rotation took place in Risk Management Dept. and was associated with the updating, in line with Polish regulations and the new global Credit Policy (general rules on credit extension), of credit instructions (detailed process of credit extension) for Global Portfolio Management customers.  I coordinated this project and my main tasks included discussions with opinionating parties (sales, credit, risk, legal, compliance) and the drafting of the new document.

My second rotation took place in the Corporate Bank - Platinum, where I acted as a Credit Manager on a portfolio of top international and local corporate clients. I was responsible for the preparation of annual and interim (for transaction purposes) credit approval packages – a thorough financial, economic and industry analysis of the company, based on which the Credit Approver makes the decision whether or not to extend a credit facility. This was a good experience, as I significantly improved my financial analysis skills, got a lot of exposure to Citi’s senior management and participated in a lot of interesting business meetings with the clients. 

I then continued the MA program in FICC (Fixed Income, Currencies and Commodities) in the FX Options Product Unit, where my job was to structure, price, book and hedge FX options structures. Intellectually this was my most demanding rotation and the learning curve was extremely steep – I really learnt a lot about options and the financial markets in general. I also exercised quick decision making (market prices move every second) and resilience to high stress (in case of a mistake, lots of money can be lost).

During this assignment I also decided that I want to continue my career within FICC and for my final rotation went to Citi in Hungary, where I was involved in the preparation and implementation of product campaigns such as the Citi Interactive Trading marketing campaign (FX trading IT platform for corporates) and the Hedging for CitiBusiness (small, private businesses) campaign. This was a valuable international experience – I improved my skills in project management, saw how the Bank operates in a different country, met new people, got to know a foreign culture and spent 5 months living in beautiful Budapest. 

My advice to future MA’s – think about your rotations at the very beginning of the Program. You should have a general plan on what kind of skills you would like to develop and which areas of the Bank you would like to experience during your rotations. It is also helpful to have a general idea of where you would like to end up after the Program. This is important as the rotations should be selected in line with a broader career plan rather than on a random whatever pops-up basis.

Our Programs

The Country Management Analyst Program was created and designed to recruit high potential talent who have the capability to be future leaders of our organization.

The program is structured on a rotational basis, which gives you exposure to multiple business areas, and in some instances countries within our Markets & Banking division. By giving you insight to the different business areas, it will give you an opportunity not only to see how those areas works, but also you will be able to develop your people and relationship skills in order to build a network of contacts – which may come in very useful as you move through the business.

At the end of the program you will be assigned to one business. Assignments are based on a combination of your personal preferences and business needs. We appreciate that earlier in your career it is hard(er) to pin point where you want to work. The structure of the rotations means you will have the opportunity to explore different areas before making your final decision.

The business areas that you may rotate in are:

• Corporate Banking

• Our Corporate Banking programmes span two organizational units within Citi Markets and Banking: Global Corporate Bank (GCB) and Global Portfolio Management (GPM), albeit that these units work in complete partnership. These two corporate banking businesses each have different client or functional focuses and so the Analyst programmes differ somewhat in terms of structure, content and geography. Read on to learn more about the businesses:

  The Global Corporate Bank

  What is The Global Corporate Bank?

  Global Corporate Banking exists to serve over 4,000 clients across the Developed and Developing World and including almost the entire world’s leading corporations and financial institutions. This would include financing new investments and possibly acquisitions, often in the order of billions of dollars; managing the risks being effected by fluctuations in currency, interest rates, energy costs and material cost in each and every country it operates in; and the basic but vital need to help clients make and receive payments in an efficient and secure manner in locations scattered around the world. Our global network with a presence in over 100 countries is unsurpassed and with it the depth of experience gained from operating in some markets and with some clients for over a hundred years! The GCB is very well equipped to evolve with the world economy as it embraces more and more players from Developing Markets as they build on successes at home and expand globally

  The GCB is widely acknowledged as the world's leading global corporate banking group. Its bankers are the Relationship Manager Financiers who build and grow our long-term relationship with these clients. Our bankers orchestrate the delivery of Citi's vast global product platform and develop integrated financing strategies, by acting as a primary point of contact through which our clients utilize our extensive capabilities around the world. Through these efforts, our bankers address our client's most complex global banking needs, helping them solve problems and realize opportunities.

  What service do we provide to our clients?

  The GCB works with Citi's Investment Banking, Global Capital Markets, and Global Transaction Services product businesses to develop creative solutions for our clients across the full spectrum of products such as fixed income, derivatives, securitization, structured products, FX, asset based finance and transactional services. This collaboration enables the GCB to lead debt financings, structure bank loans, provide advice on optimizing capital structure and risk management strategies, and assist clients in global treasury management.

  At the same time the GCB works with the Global Portfolio Management division in the management of the bank's risk portfolio and is tasked with maximizing risk adjusted revenue and returns. In short, by combining their long-term client relationships with deep industry knowledge and a comprehensive understanding of Citi's global product platform, GCB bankers serve as their clients' most trusted and global financial service providers.

  What product/groups do we cover?

  The GCB mega-industry groups are:

  • Consumer & Healthcare, including Retail

  • Financial Institutions

  • Industrials (including Aviation, Shipping, Autos and General Corporates)

  • Technology, Media and Telecommunications

  • Power, Energy, Chemicals and Mining

  • Public Sector Group

  • Global Portfolio Management

  What is Global Portfolio Management?

  GPM is responsible for analysis, approval and monitoring of credit-related transactions, primarily loans, to Citi Markets and Banking clients. As such GPM is a key member of the deal teams working on credit related transactions, primarily loans, derivatives and trade finance, helping to structure deals, perform risk mitigation and portfolio management of the loan portfolio. GPM proactively manages the Group's loan portfolio, seeking to maximize Citi's returns and increase liquidity through the intelligent and strategic use of capital. Analysis focuses on identification of business, industry, transaction and franchise risks; company cash flow generation; and transaction structure. As part of Citi's independent credit risk management organization, GPM is required to provide its independent approval for Citi Markets and Banking transactions, placing it at the center of client deal flow and industry-leading risk management processes.

  What service do we provide to our clients?

  GPM works in parallel with our Corporate Bank and product partners to provide unique and powerful customer solutions. We are supported by a vast global network of industry and product specialists in a variety of markets, each serving jointly to deliver an advanced understanding of an industry's underlying drivers to clients and transactors.

  Unique to Citi is the approval process. Generally, two separate credit officers – one from the business and one from GPM – are required to approve any credit decision, rather than a central credit committee. This speeds up the process, providing flexibility and a rapid decision if required by the customer. GPM uses its industry and business expertise to ensure that any credit-related transaction is originated, approved and executed in the best manner possible – recognizing that clients' and Citi's internal interests may differ at times. This unique approval process allocates responsibility to individuals, establishing a risk management culture that promotes good analysis, judgment, flexibility and balance between risk and reward.

  What product/groups do we cover?

  GPM is organized along industry and geographic market lines, similar to that of the Corporate Bank, with teams in the U.S., Europe and Japan. The GPM professional begins his or her career as a generalist gaining industry and product expertise as he or she successfully advances in the programme. GPM is organized in specific industry and product portfolios, broken down into the following business segments:

  GPM Portfolio Groups

  • Consumer & Healthcare

  • Industrials (including Aviation, Shipping, Autos and General Corporates)

  • Technology, Media and Communications

  • Power, Energy, Chemicals and Mining

  • Leveraged Portfolio

  • Structured Portfolio

  • Public Sector Portfolio 

• Equity Sales & Trading

• We have designed these sections to help you understand what Equity Sales and Trading is, the services we provide to our clients and how we are structured. In the subsequent tabs we have asked for input from our Analysts and the recruiters to describe the type of person we are looking for as well as the recruitment process.

  
  

  What is Equity Sales & Trading?

   
  The Equity Sales & Trading Division of Citi focuses on advising investors about investment opportunities in the European equity markets and on transacting equity business on behalf of our clients.
  
  

  The Division encompasses a wide range of products and services, including European Equities, International (ie non-European) Equities, Equity Derivatives, Convertibles, Prime Finance and Client Management.
  
  Sales and Trading is broadly divided into Cash and Derivatives, which offer a wide range of products, often tailor-made to suit our clients’ needs. Our clients include the largest institutional investment managers, mutual funds, pension funds, hedge funds, risk arbitrage funds, sector-specific funds and retail accounts.
  
  What service do we provide to our clients?
  
  Our Markets and Banking Division’s global distribution network provides us with a distinct competitive advantage, actively trading securities around the clock, making markets in stocks found on every major exchange, from Sydney to Stockholm.
  
  Our reputation is built on being able continually to provide liquidity for the largest institutional investment managers, mutual funds, pension funds, hedge funds, risk arbitrage funds, sector-specific funds and retail accounts that we cover. In other words, when they need to trade in large amounts of securities, they know we can make it happen.

  
  

  What product groups do we cover?

   
  

  The Equity Sales & Trading business is subdivided into three main product areas: Cash Equities, Equity Derivatives and Prime Finance

   
  

  Cash Equities

  Institutional Equity Sales
  Sales Trading
  Position Trading
  International Equities
  Alternative Execution Services including Program Trading
  Convertible Bonds

  
  

  Prime Finance

  Prime Finance Sales
  Stock Loan
  Swaps
  Capital Introduction

  
  

  Equity Derivatives

  
  

  Equity Derivative Sales & Research
  Equity Derivative Trading & Structuring 

• Global Transaction Services

• We have designed these sections to aid you in your understanding of what Global Transaction Services (GTS) is, 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 Global Transaction Services (GTS)?

   

  Global Transaction Services provides innovative banking solutions to more than 45,000 financial institutions, corporate clients and public sector entities around the world. With a global network spanning 100 countries, we are uniquely qualified to service clients with local and cross-border interests and provide integrated reporting and management. 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 management.

  What service 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. It provides 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.

   

  We offer a broad spectrum of solutions to our clients:

   

  • We help corporations 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 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 (over the counter) 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, etc. with paying agency services and corporate trust facilities.

  • We deliver operating efficiency to Public Sector Entities, from providing postal agencies with banking infrastructure for their post banks, extending securities lending and cash management to central banks, and helping utility companies consolidate and reconcile payments from their end-customers, to delivering government pensions and welfare payments to beneficiaries around the world.

  What product/groups do we cover?

   

  Transaction Services typically incorporates three main product areas, which are Cash Management, Trade Services and Finance, and Securities and Fund Services.

   

  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

   

  Citi - with the largest trade services network in the world, spanning 72 countries and 104 cities - offers the 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. Trade Services and Finance has also been recognized by leading publications, including Trade Finance, Global Finance and Trade & Forfeiting Review.

   

  Securities and Fund Services

   

  Securities Services is a leader in domestic and cross-border transaction services for the world's investors, intermediaries and issuers with more than $9.3 trillion in assets under custody and trust. Offering the industry 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. 

• Operations

• 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. 

• Technology

• We have designed these sections to aid you in your understanding of what Technology within a 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 Technology?

   

  As one of the key enabling forces behind Citi, Technology supports all areas from multi-million dollar international trades to individual investors' portfolios. Our objective is to deliver seamless services to meet today's needs, while at the same time ensuring our technology and systems are flexible enough to seize opportunities in the future.

   

  What services do we provide to our clients?

   

  The Technology division is a vital business function solving problems, enhancing services, finding more efficient ways to build business, raise productivity, boost our competitiveness and expand globally. Our commitment to technology is unprecedented: we put massive financial resources behind our information infrastructure, whether it's a ground-up development project, the acquisition of a technology partner or the enhancement and operation of our day-to-day systems. The investment results in technological advancement unheard of outside of the industry.

   

  Our technology division:

   

  • Develops sophisticated worldwide trading operations, financial systems, databases and internal and external communications networks

  • Designs and develops the firm's websites and the architecture of our global applications, databases, networks and hardware

  • Customizes and recommends software in response to changing business needs

   

  How we are structured?

   

  We broadly distinguish between Software Development and Technology Infrastructure.

   

  Within Citi Markets & Banking:

   

  Software Development is closely aligned to the business areas in Citi Markets & Banking such as Global Transaction Services, Fixed Income, Equities and Corporate Operations & Technology. You will work hand-in-hand with the world's leading computer and software technologies to develop new, customized platforms. That often means you're not only involved with some of the hottest breakthrough technologies before they become available, you may actually be integral to making them happen in the first place. Some of the technologies that we use include Web Services (WS), Web Services Enabling – SOAP, WSDL, UDDI, Service Oriented Architecture (SOA), Java/J2EE, BEA Weblogic, IBM Websphere, Oracle, Sybase, XML, .Net, C/C++, and Unix.

   

  Across Citi:

   

  Technology Infrastructure provides telecommunication products and services to all Citi's business units, including Citi Markets & Banking, Global Consumer Bank and Global Wealth Management. Technology Infrastructure offers exciting opportunities in business analysis, project management and business continuity. In addition it provides voice, e-mail, Internet, data processing and desktop support as well as specific functions, including real-time market and historic market data services, the operation of data centers, command and customer service centers, security control devices, gateways for remote access and mobile computing technologies, and host and server systems.

The Country Management Program will be demanding and the learning curve steep, however you will never have time to be bored and will constantly be faced with new challenges.

With Citi's global reach, you are in continuous contact with regional offices around the world. Throughout your careers, you may have the opportunity to work and live abroad in diverse regions across Europe Middle East and Africa. 

Training

The Country Management Analyst program begins before you even join Citi. You will be allocated a Buddy who is likely to be a recent Analyst who will be able to give you guidance and answer any questions that you may have before joining.

The rotational program begins with a dedicated training course. Your formal training, alongside other Analysts, begins with orientation and induction sessions providing an overview of Citi and specifically Citi Markets & Banking. The training, may also include team building, core financial skills, and presentation skills, as well as social events which will enable you to develop your networking skills.

After the training you will start the rotational program. At various stages during the program, Analysts will gather back together for additional training. At the end of the program, you will receive additional training, which will cover the enhancement of communication skills and effective relationship building. Once completed you will graduate and move into your new team.

Recruitment Process

Below is an outline of the likely recruitment process from application received to offer. There will be slight variations depending on the local country process.

Stage 1: Application is reviewed by Human Resources and the Business
Stage 2: First round interviews
Stage 3: You may be invited to an Assessment Centre 
              Interviews with Senior Managers
              Numerical Reasoning Test
              Written Case Study Analysis & Group Discussion
Stage 4: Offer extended by business; follow up by Human Resources