Finance Division > Undergraduate

Business Description

What is Citi Finance?

Have you ever stopped to think who controls the finances in a leading financial services company? Citi Finance is responsible for supervising all financial reporting and controls pertaining to the flow of capital into and out of our organization globally.

What services do we provide to our clients?
Citi Finance acts as a strategic partner across all sectors and works closely with many of the global management teams in Markets & Banking, the Global Consumer Group, Global Wealth Management, Citi Alternative Investments, and the Corporate Center. The Citi Finance team encompases a variety of specific functions including Treasury, Strategy, Business Development, Planning & Analysis, Audit & Risk Review, as well as Controllers.

How we're structured?
Citi Finance is part of the support structure for the entire organization. Finance comprises five major functions:

Controllers watch the bottom line. They are responsible for producing the Firm's financial reports, for ensuring the accuracy of the Firm's books and records, maintaining capitalization levels and for meeting regulatory and legal vehicle reporting requirements. "Control" is key to enabling Citi to embark on its many initiatives with the confidence that our financial and regulatory reporting -- which drives all crucial management decisions -- is being completed in a timely and accurate manner.

Treasury is the custodian of Citi’s balance sheet. This group manages the firm’s funding, liquidity and capital and is responsible for maintaining Citi’s relationships with credit rating agencies and with regulators.

Strategy and Planning plays a key support role to the CEOs and CFOs of the various Citi sectors. S&P comprises Strategy, Planning & Analysis and Risk Strategy. All three teams work closely together to provide senior management with the tools they need to optimally allocate human, capital and investment resources.

M&A is responsible for proactively identifying opportunities, performing detailed analyses and diligence on acquisition targets, and for making recommendations to Citi's M&A committee and senior business leaders. The group reviews deals based on strategic needs and works across all businesses and functional areas to coordinate the deal process - from signing confidentiality agreements, to competitive analyses, analytics and modeling, valuation support, presentation preparation, submission of bids, and contract negotiations.

Tax is responsible for financial, legal and regulatory tax reporting. This group has a keen understanding of the various sectors across our organization -- including our broker-dealer business, commodities trading, sales and trading and commercial lending -- and identifies tax-planning opportunities for these sectors.

Our Programs

Citi Finance has two programs that you can apply to:

Finance Analyst Program
The Finance Analyst (FA) Program involves a two-year commitment to a specific finance function within one of Citi’s sectors. During the two-year program, which commences every July, Analysts receive valuable work experience to help them achieve their career goals. Analysts work closely with finance management teams across numerous sectors and add value to the company through reliable and efficient transaction processing, accurate record keeping, development of financial auditing and controls, drafting of policies and procedures, strategic planning and analysis, and effective management of balance sheets and liquidity. Empowered by employees that share common professional attributes, Citi Finance acts as a strategic partner across all business lines.

The program begins with five weeks of group training in New York City on finance, accounting and computer training, before being placed into a specific finance group. The training is delivered by a combination of practitioners in the industry: university professors, finance professionals and resident experts in Markets & Banking, the Global Consumer Group, Citi Alternative Investments, Global Wealth Management and the Corporate Center. The curriculum includes a Citi orientation and topics such as Financial Accounting, Finance, Balance Sheet Analysis, Strategy & Planning, Tax, Accounting Policies and technical training.
The Finance Analyst program provides the unique perspective that comes with being cross-sector. After training, Analysts have the opportunity to join a finance team in any one of Citi’s sectors, including Markets & Banking, the Global Consumer Group, Citi Alternative Investments, Global Wealth Management and the Corporate Center.

Upon successful completion of the two years, it is anticipated that Analysts who have excelled in the program will be invited to rotate within Citi Finance, across various sectors, to help broaden their finance skills and knowledge of the organization. Included in this third year rotation are opportunities for potential international assignments. These opportunities may in turn allow for the possibility of promotion to the Management Associate level program and beyond. Success in the Analyst program will likely pave the road for a career at Citi as a Finance professional.

Summer Finance Analyst Program
The Finance division hosts a ten-week Summer Analyst Program in our New York City office. Summer Analysts have the opportunity to join a finance team in any one of the Citi sectors. This includes Markets & Banking, the Global Consumer Group, Citi Alternative Investments, Global Wealth Management and the Corporate Center.

Responsibilities vary by assignment, but typically include:

• Preparing and analyzing profit and loss statements
• Assisting in preparation of balance sheet reports
• Pricing securities
• Assisting in preparation of monthly and quarterly reports
• Assisting in preparation of quarterly earnings releases
• Conducting statistical analysis and data testing
• Conducting market share and trend analysis
• Conducting credit analysis
• Participating in special projects
• Providing support in the quarterly forecast and annual budget process

The Summer Analyst Program also provides opportunities for development, such as:

• Mentor Program
• Teambuilding Activities
• Summer Speaker Series
• Mid and end-of-summer reviews

The Summer Analyst Program begins with two days of intensive classroom training in New York City covering Citi Orientation, Financial Accounting, Finance, Accounting Policies and Technical Training.

Summer Diaries

Ryan Gonska

Week 1 & 2

The first day of training eased the anxiety that many of us might have felt by laying the groundwork for what the rest of our summer would be like. We had a plethora of opportunities to speak with experienced professionals in Finance so as to get a better idea of the type of challenges and opportunities we should expect this summer. After an opening breakfast hosted by two senior managers, a panel of former summer analysts answered any questions we had and provided their own personal advice about the summer program. The second day, we had an Excel training class and a short introduction-level Accounting and Finance class. After two days of training, I feel like I have a good idea of what I need to do in order to have a successful summer.
Living in New York has been a lot of fun so far. My apartment this summer is downtown on Wall Street. It has been a really great location for my commute as I can jump on the subway right outside my apartment and arrive a few-blocks away from the office. If I want to go out for the night, I can walk down the street to a few bars or take a subway or cab uptown. Living in New York is great because everything you need is less than 15 minutes away!

Week 3 & 4

So far my summer working within the Financial Control group at the Corporate Bank has offered a lot of different opportunities and experiences. On my first day, my manager told me he wanted me to have the best possible experience and he would try to expose me to as many different projects and people as possible. In only 2 weeks I’ve worked on a number of projects with 4 different Analysts and Vice Presidents. 

I’ve been surprised by how much value I’ve been able to add to the group. Although a lot of the responsibilities have been relatively small in relation to the projects as a whole, if I supplied incorrect data or information we would never be able to successfully complete our work. It impresses me how important it is to be able to work well with others because a lot of the times I feel as if you’re just one piece of the puzzle.

Having an internship in a formal program provides a great advantage in terms of networking opportunities. The program assigns each intern an Analyst Buddy, and a Junior and Senior Mentor from different finance divisions throughout Citi. It’s a luxury to have the ability to reach outside your group if you have any issues or questions.

Week 5 & 6

A few weeks ago I had my mid-summer review. My manager, the program director, sat down and discussed my performance up to this point. I went into the review a little bit anxious about being critiqued; however, it was actually very helpful. My manager went through all of the positive work I had done and he highlighted some of the things that he thought I needed to work on. I came out of the meeting feeling really happy because it let me know that my work is truly being evaluated. More importantly, if I don’t know what I need to work on I’ll never improve.

Since I’ve started, my manager has slowly given me more responsibility. In the first few weeks he asked me to pull data for him so that it can be used as a larger part of a project. At this point in the summer, he now asks me to pull data, analyze the data, reach out to people in different groups to get their feedback, and to come back to him with the problem resolved. I’ve really appreciated this because its challenged me and has given me a good idea of what a full-time finance analyst does on a regular basis. At the same time, reaching out to people in other groups has also given me a greater understanding of what other groups do and what my group does at a macro level.


Week 7 & 8

All of the interns at Citi have the opportunity to attend the “Distinguished Speaker Series”, which is hosted by Senior Executives and business heads. The speaker’s usually provide an overview of what their business does and then discusses what they believe we should get out of the summer. This past week, Chuck Prince, the CEO of Citi, spoke to our group. It’s amazing to hear so many successful executives talk about their business and what they think you need to do to succeed.

The speaker series has also enabled me to better understand the size of Citi and how many different opportunities exist within the company. Citi has four different business segments – Global Consumer Group, Capital Markets & Banking, Global Wealth Management, and Citi Alternative Investments. My group, the Global Corporate Bank, is in Citi’s Capital Markets and Banking segment along with other businesses like Investment Banking, Sales & Trading, and Global Transaction Services. The CEO of GTS explained to us that his line of business, GTS, is as large as a Fortune 500 company. The fact that this one line of business within Citi could earn so much money speaks volumes about the size of this company!

Week 9 & 10

The summer is coming to a close, but I’m really happy with the opportunities the summer program has presented to me and all of that I’ve been able to accomplish. In a two month period I’ve been able to identify whether or not I would like to spend my career in financial management. I’ve been able to identify my strengths and weaknesses in an office environment and develop great relationships within Citi.

The most memorable part of my summer will most likely be my Final Presentation. I worked on a project, which tested the existing metrics used by our team to forecast monthly revenues and to investigate whether or not there is a better way to estimate those revenues. The project involved a lot of data collection, analysis, and preparation for the presentation. I found this to be the most challenging and the most productive project I worked on all summer. It really tested my analytical abilities and my capacity to present my conclusions. I’m confident that this summer has prepared me for my career.

Who we are looking for

Full Time Analyst

• Creativity in solving problems
• Hard-working
• Quick-thinking and detail oriented
• Intellectually curious
• Ability to juggle multiple tasks simultaneously
• Strong oral and written communication skills
• Cooperation and a focus in achieving group and client objectives
• All majors are welcome to apply

Summer Analyst

• Rising seniors with distinguished academic achievement, a high level of personal integrity, interest in finance, commitment to excellence, high level of energy, and a strong desire to learn
• All majors welcome to apply
• Minimum GPA 3.0

Recruitment Process

We open for applications on September 1, 2007

Full Time Analyst

Citi 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, sectors 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 four, 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 sectors, 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) 
              Four, 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).

Where

• New York, NY
• Buffalo, NY