Job Responsibilities
The best part of the management associate position is that job
responsibilites change with every rotation. The rotations can be
in varied departments, ranging from sales or marketing to treasury
or risk management or operations. The idea is to give the MA
sufficient exposure to all parts of the bank.
In my current role in risk management, my role is to evaluate the
risk exposure, potential of certain products, and then set
policies which help to minimise risk, while maximising the
returns. There are two main components to the job - The first of
these involves the actual risk analyses, using financial and
credit models, which help to quantify the risk and the
effectiveness of varios policies objectively. The second part
involves communicating these decisions to the other departments,
negotiating for buy-in and agreement, and eventually implementing
it. These two segments will probably take up 40% each of each
working day or week. The remaning 20% is usually used for
monitoring the performance of the current portfolio on a regular
basis, to ensure there are no unexpected blips.
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Job Requirements
Management Program recruits graduates or MBAs. Undergraduates with
exceptional track record or experienced hires with upto 3 years of
working experience, may also sometimes make the cut. Good academic
grades are definitely a plus.
The MA program includes many trainings. Starting with MADP, a 10
day regional development program, where the associates are taught
by senior managers across the region, it branches off to more
specialised trainings tailored to the needs of each MA cohort. MAs
receive more training per year than other employees in the same
organisation.
The career path varies for each individual. The first part of the
program goes through rotations in various divisions, after which
the individual chooses (in most cases) which department to
specialise in. This mean, he or she will stay in that division for
18 - 24 months. The MA program officially ends after 3 years,
however, the MAs are added to the regional (or global, depending
on performance) development pool, where they may be offered
challenging short or long term assignments. Usually, by this
stage, the high performing MA has sufficient network and clout
within the organisation to mould his or her own desired career path.
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Uppers
The best parts of the Managament Associate program in Citigroup are the wide
range of experiences and the access to senior management, which is not always
available at other positions.
Because of the nature of the program, the Management Associate will be rotated
through various parts of the bank. While this cannot be always guaranteed, in
most cases, the HR managers and division managers work together to ensure that
each of the MA's rotations are challenging, and all the individual rotations
complement each other to together add up to a wholesome, all-rounded development
of the individual, needed to take up a senior management position in the long
run. A good testimony to the fact that this might actually be working is the
high
proportion of Citigroup's senior managers who had started their careers as
Management Associates.
Th other great aspect of the MA program is the access to senior management,
which is not available at other entry positions. Management Associates are
expected to present the results of their initial projects to Senior Managers.
Mentors, who are from the senior management group, are also assigned to each
management associate, to help and guide in their career development. On top of
these, some senior managers take special interest in the development of
Management Associate program, through proactive involvement.
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Downers
A downer for the Management Associate program is the heavy
workload. Because of the short rotations and the pressure to
perform, the management associate is expected to go into a new
department, grasp the intricacies of the project at hand and offer
value-added solutions, in a short span of time. And because the
projects may not be completed in the short span of time allocated,
in some rare cases, the management associates may be
simultaneously working on a past and current project. Also,
Management Associates are expected to exhibit initiative and
leadership and participate in all extra activities going on in the
organisations, which may not be directly related to his or her
work. This may include any charities that the organisation
supports, activities organised for staff etcetra etcetra. While
all these are not individually stressful, a combination can
sometimes contribute to a heavy workload.
The managament associates are not always welcomed whole heartedly
into each new department they go to as part of their rotations.
Because of the elite nature of the program and the fast track
promised to the fresh graduates, there might be some colleagues
who foster resentment and envy. These are often the very people
that the management associates needs to work with on a daily
basis, and no amount of support from senior management will help
them in this regard. A good combination of EQ and people skills is
the only way to get around this problem. In the long term, if the
Management Associate can display that he or she deserves the fast
track he or she is on, most people will come around.
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Lifestyle
This is an excellent option for anyone thinking of a career in the
financial industry. For a career in Citigroup, this is the best
possible entry option. The program is available and is the most
prestigious program in almost all countries that Citigroup
operates in, and is recognised as the fast track program to senior
management. Excellent analytical, communication and leadership
skills are necessary for success in the long term.
Even if a long-term career in Citigroup is not the choice, this
program offers many good exit options. It is recognised within the
industy as well as in other industries as a program for high
flyers, and there are many options available to an ex-Management
Associates. Several alumni have branched out into consulting,
investment banking or into starting their own companies.
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Compensation
Base salary of 44000 SGD, with variable bonus which depends on the
individual's performance. Vacation time is 18 days. Other perks
are the same as that of the banking industry in Singapore.Stock
options are available, but this is not specific to the Management
Associate program (it is the same as that is available to the
other employees in the organisation).
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Advice to Jobseekers
This is an excellent option for anyone thinking of a career in the
financial industry. For a career in Citigroup, this is the best
possible entry option. The program is available and is the most
prestigious program in almost all countries that Citigroup
operates in, and is recognised as the fast track program to senior
management. Excellent analytical, communication and leadership
skills are necessary for success in the long term.
Even if a long-term career in Citigroup is not the choice, this
program offers many good exit options. It is recognised within the
industy as well as in other industries as a program for high
flyers, and there are many options available to an ex-Management
Associates. Several alumni have branched out into consulting,
investment banking or into starting their own companies.
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