My long term goal is asset management, but it is hard to break into anything related to this in this market condition; it is extremely harder without any experience in Finance jobs. I am looking at Citi’s Global Transaction Services Associate position. I may have a chance to interview for this, but I am not sure if this will in anyway help me progress towards asset management. Can anybody tell me what this position is really about? Anybody working in this area? Although it would be job in finance and would let me switch career, but I am not sure if it will give me experience that would be useful for investment management. ------------------------------------------------------ The Program The Global Transaction Services Associate program is an eighteen-month rotational program for new MBA graduates within the various divisions which comprise Global Transaction Services: Treasury and Trade Solutions, Securities and Fund Services, and Client Management. GTS Associates are placed in two consecutive nine-month rotations. Final, long-term placement follows the rotations. The type of project and deliverable for each rotation varies according to placement and business need. Past assignments have included but were not limited to: •Developing pricing models for fund accounting services; analyze pricing strategy in US markets. • Full management of a regional product within Global Cash: product definition, marketing, roll out, tracking product performance & market analysis. •Develop MIS tools for measuring investment performance of individual client cash collateral portfolios. Training: There are three training sessions during the 18 months of the program. Junior and Senior Mentors are appointed for all Associates. Qualifications: Graduating with an MBA between December 2008 and June 2009 with 3-6 years of work experience. Skills: •Project management skills: networking, negotiation, detail and follow-up • We look for candidates who possess a high level of personal integrity, commitment to excellence, high level of energy, and a strong desire to learn •Strong interpersonal communication skills; strong presentation skills •Teamwork orientation •Excellent global business orientation
This a back office monkey position.
Thanks AlphaSeeker for saying what it is. Can you please elaborate?
Why do they need an MBA for this?
I find it extremely difficult to fathom the idea of an “MBA back office rotation program”.
Would you consider this job at all just to get “Finance” related experience to get rid of stigma of long-term IT related experience? From the slim comments, I assume that this job may make it worse for me to switch to something better in future (say in one year from now).
Buddham, two reasons: 1. In general, the name such as xyx services group or abc transaction services is just a better name for back office. To quote from Obama: if you put lipstick to a pig, it’s still a pig. 2. Specifically, a “front office” role, or a “hunter” as it’s known in this business must have the job descriptions such as: Advising clients, meeting with potential prospects, moderate to extensive travel, making trade decisions, etc. In contrast, if you look at this job description: it says develop tools, analyze pricing strategy, track performance, etc. BTW, a job description with the requirement such as a “strong desire to learn” is a classic telltale sign that they will screw you on the pay… Gotta go, the markets are taking a turn…
Citigroup GTS is the custodial function mainly. That’s 100% backoffice work. The functions they describe as examples are for sure backoffice. I indeed wonder why they want an MBA for this. Well… because they can get one to do it probably. Since Citi GTS is our custodian I am happy to hear that they are hiring and investing in improvements, though…