citi logo
My Account
PERSPECTIVES

A Student's Story: Improving Undergraduate Knowledge of and Interest in Banking

September 05, 2013
Cheong Por Yee, Student, Citi Banking 101 Foundational Program

We noticed that many new college graduates who came in to interview with Citi Singapore could not distinguish between the various businesses and functions in banking. That got us thinking....how can we help them progress their interest in making banking their career? Since Citi is the largest banking employer and 2nd largest private sector employer in Singapore, we felt we could and should contribute to ensuring a pipeline of young talent for our company and the industry.

So with the help from colleagues who are business experts, our team in Human Resources developed a comprehensive two-week program specifically for undergraduates who are interested in pursuing careers in banking.

We called it the Citi Banking 101 Foundational Program. The program included lectures, group exercises and case studies covering different areas such as Audit, Business Analytics, Commercial Banking, Compliance, Corporate and Investment Banking, Credit Payment Products, Finance, Global Markets, Operations & Technology, Private Banking, Retail Banking, Risk, Secured Finance and Transaction Services. On top of these business modules, the students were taught resume-writing skills, interviewing techniques, the basics of developing a 'personal brand' and how to work as a supportive team member.

Did the program equip undergraduates with fundamental knowledge of banking and progress their interest in banking as a career? One student, Cheong Por Yee, shared his experience with the Citi Banking 101 Program and provides advice to youth looking to start a career in banking.

1) How did you become interested in banking?

I became interested in banking through an internship in Commercial Banking. The experience helped me realize how relevant the service of banking is to everyone in life, be it personnel from the corporate world or for our own individual purposes. Also, I enjoy making a difference in the lives of others and I find that I am able to fulfill that part of me in Banking, especially after witnessing the impact that relationship managers have on their client's life.

The Citi 101 program furthered my interest as well, as I was even more exposed to the intricacies of banking functions. I realized how intimately every department works together to offer a wholesome service to the customer. With the wide scope that the bank provides, compared to smaller and niche firms such as investment firms or asset management firms, I feel that working in a bank provides me with a bigger platform to develop myself as a person and my financial literacy.

2) What kinds of courses in banking have you been taking in college?

I am currently a year 2 Accountancy degree student, double majoring in Banking and Finance. Thus, I have not been exposed to many financial modules as yet. Currently, I am studying a module which is Equity Securities. This module teaches us how to value a company stocks. I personally am very intrigued and interested in this module (it has been long since I was this interested in a subject that the schools taught!). In this module, we are supposed to work in groups to value a specific company stock and put up a buy/sell proposal. This allows us to understand the perspectives of others when valuing a stock and consider qualitative information in our valuation through discussion. We even commented that we will buy the stock together as a group because we see great potential of it as of now! I feel that such financial knowledge will be able to help me in the long run, as it provides me the skills required to understand the stock and financial market.

3) What did you like most about the Banking 101 Program?

The program provided many opportunities - networking sessions, classes to help us understand the functions of each departments, and interactive case studies. I liked the case study portion from the Program the most, as it allowed us to understand the lecture materials through applying the concepts to real life scenarios. One that I really enjoyed was from Private Banking. The Private Banking department's case study gave us the opportunity to role play with potential clients. The "clients" were also specifically instructed to be hard on the bankers so that we could learn how to handle such situations. It was a very good experience, as you learn things that can't be taught through textbooks.

4) Did the Banking 101 Program provide a holistic view of the banking industry?

Yes, it definitely did! Banking 101 invited speakers from different departments such as Personal Banking, Commercial Banking, Corporate, Investment Banking, Markets, Finance, Risk etc. The speakers came from a multitude of backgrounds within the bank namely from front, middle and back office. These allowed a broad and balanced view of the bank. Not only that, I noted that the speakers were very cautious in using bombastic financial terms and explained to us the functions using layman terms. These really helped the participants a lot as we were clearer and could understand their presentation better.

5) What advice would you give to your friends who wish to learn more about the banking industry?

The advice that I would give is to have an open mind and understand more about the industry before stepping into it. Many aspiring young individuals like me are always inclined to join Investment Banking, Markets and Private Banks. They feel that there is more prestige in such departments and possibly a higher salary. However, they don't understand exactly what each department does. Therefore, I strongly feel that everyone should work to understand the roles of each department before deciding to commit to any specialized function.

I believe that happiness can be derived from a career and I believe that you can achieve happiness when you know what your motivation is. To some people, happiness can be changing someone's life and to others, it may mean earning a lot of money. There are different motivations for different people. Know your motivation; find a career that fits your motivation and you will lead a happy and fruitful life. Life is tough but every individual has the power to make a difference in his/her own life.

6) What's the best piece of advice you've been given?

My ex-boss once gave me this one-word advice - Network. And after my internship and work stint in Citi, I realized it isn't your skills that help you tide through your daily operations or even sudden problems posed by customers. It is your network and the people who you know that help you.

Despite the importance of networking, I believe that an individual should not view another human being as an asset. Instead, we should always treat people with sincerity and with goodwill. So in turn, I would like to tell all young adults out there - Step out of your comfort zone, get to know more people, meet others with authenticity, and be proactive about making friends.

Sign up to receive the latest news from Citi.

Select Preferences