Very poor culture / Poor Internal Management Consulting team and Overall Program Management
Pros
Other than decent salaries there is nothing else I can find as a pro. I appreciate that it depends on your line manager, department etc so I am sure some people may have a different point of view.
Cons
1. Very poor culture. Many employees (especially those in the States) shout and bully and they get away with it even when escalated to HR. Especially those based in Florida tend to bully a lot. Other employees (current and past across a two decades period) have told me that it has always being like this and that this is coming from the top. 2. HR are very weak, most of the time look dazed and confused. There is no point escalating anything to HR. 3. Internal Management Consulting team: Citi recently did a massive hire to build their own Internal Management Consulting department as the CEO wanted to reduce the costs to external Management Consulting firms. Even worse most of them if not all of them are not technical literal and every program is dependant on technology nowdays. However as they wanted to hire quickly, the people they have hired are either too junior for the level they have come in or have very poor experience. They managed so bad the most recent FED FR2052 exam 2023, they had people working 24hours for more than a month even though they had double the man power compared to the FED exam in 2021. The fact that they had double the man power and still people were working 24/7 shows how bad the new internal management consulting team is. The operating model had so many gaps, mistakes and you could tell that they had no clue what they were talking about, let alone how inexperienced they were putting together an operating model. 4. They have far too many Program Managers and even more PMOs and most of them they are not even good. I doubt if they understand the difference between a Program Manager, a Project Manager and a PMO employee. I appreciate now why the Fed keeps fining them for poor program management. What is worse is rather than hiring more intelligent people to manage the programs and fire all those that have been around for decades, they introduced a CAO, a monster tool and even more reports to address the FED's latest consent order for poor program management. 6. There is a lot of backstabing as they are so many program managers, PMO so they are fighting between them who will manage a program either because they are worried about loosing their job or because they are trying to increase their portfolio to get promoted. 7. SPV level: Have clear criteria for this level as you can not be hiring at SPV level externally with 10 years of experience when other departments hire at SPV people with 25 years of experience. It causes a lot of issues internally at Citi as well with relationships. I can understand now why Jamie Damon left (pushed) from Citibank and JP Morgan is No 1. Citibank will never be like JP Morgan. The executive team should be embarassed.
