Business
Interview Results
I chose to interview the friend of my family, who works as the Head of Analytical Department in the Citibank. His name is Richard Rees and he works at one of huge number regional departments of the above mentioned bank. Mr. Rees has been with Citibank for the past twelve years. He started as a junior analyst in this company. The interview included the wide range of questions, which were linked to the development of the banking sector in the international market, external and internal factors that could impact on the company. All questions were divided into three groups:
organizational culture and value system of the company;
work challenges and possible problems of the company in the international market;
information technologies in the company’s business processes and how they can impact on the bank competitiveness.
The second part of the interview was devoted to the working challenges, threats and opportunities of the company in the competitive international market. It should be noted that finance sector environment is quite complicated in our days. Stability of the bank is considered as the main its advantage in order to retain current customers and find new ones. There are two main departments in the Citibank: consumer businesses and institutional businesses. The company’s management must develop the company in the way that to improve main financial indicators, which are important in each ranking of banks. For example, the reliability rating of banks, which is formed by magazine “Forbes” annually, uses assessments of banks by international rating agencies Fitch, Moody's and S & P as a basis. This ranking of banks in terms of reliability, includes the following financial results:
the amount of capital assets and credit institutions;
sufficiency and return on equity;
credit risks;
the share of individual deposits .
In this case, the role of analytical department and its head is crucial: head must make serious decisions each day and regularly analyze all indicators. Each mistake can start a chain reaction of the following wrong steps in the management of the company.
The last set of questions concern the technological environment of the company and software that is used in the Citibank. The main principles of the company, which relate this direction, are the safety of personal data, the privacy on the Internet and fraud protection. Citibank uses the following stack-technologies: Java, Oracle, SQL and also protocols (TCP/IP, SSH, SFTP). Citibank develops an online project that allows its clients to perform a large number of operations anywhere in the world where there is Internet. Mr. Rees uses the main bank system, Rational Rose, Vision and other software in his work. These technologies can improve business effectiveness and provide quick reviews of the current situation.
According to the answers of Mr. Rees, compliance with the safety of client personal data is the company’s priority. The bank protects this information by means of physical, electronic and procedural safeguards that comply with the same requirements of the local legislation. The company trains its employees adequately of personal data processing methods. In the case of involvement of other organizations to provide support services, the company requires these organizations to maintain confidentiality of the personal data, which are transmitted to them.
Citibank actively supports team collaboration. There are Citi Employees Networks, which offer large opportunities for professional development, networking and community involvement.
Lessons Learned and Managerial Implications
After conducting interview with Mr. Rees, one can say that analytical department of financial institution (in our case, the bank) plays a crucial role in its activity in the international market. The main function of the analytical department is to provide reliable information on the bank's work timely in order to make right managerial decisions. In this case, staff is a main factor of the company’s competitiveness in the international market. Complicated hiring process that is based on the various internships for students and graduates must be the main principle of the bank, if it wants to find the most talented employees in order to effectively develop in the competitive market.
Informational technologies are one more crucial resource of the company, using that it can be possible to solve the problems and offer more opportunities to customers. As we know, both people and corporate clients are more interested in on-line services in our days, because they are quick, convenient and available anytime. In this case, management of the bank actively develops this direction. At the same time, head of analytical department can impact on almost all managerial decisions and it is the biggest challenge of this position.
In conclusion one can say that interview with the manager of Citibank shows me the crucial aspects of the real managerial work and allow me to better understand how the manager faces with the challenges in the international competitive bank environment.
Works Cited
Official Site of Citibank, “Citibank. A Mission Of Enabling Growth And Progress.”. Citigroup.com. N.p., 2016. Web. 29 Mar. 2016.
