Transaction Services Overview
Egyirba Walker-Arthur
Senior Program Manager, Career Program
What is Transaction Services?
The Transaction Services division of a bank helps its clients to manage their
cash in an efficient and effective manner.
Corporations
Financial Services Institutions
Transaction
Services
Provides cash management solutions for
Middle Market Companies
Small Businesses
Governments
Municipalities
Transaction Services is not just about moving cash; it is also about:
- the security requirements that come with it
- the assurance that the processes are as streamlined as possible
1
What different areas are there in
Transaction Services?
Cash Management
Product
Management
Transaction
Services
Trade Finance
Security Services
Sales
Capital Markets
2
What different areas are there in
Transaction Services?
• Cash Management
Covers the services offered by a bank to help its clients take payments for goods or
services, and to process receipts. It also includes assisting them to keep track of
their cash flow, and helping them collect money from customers.
• Trade Finance
Trade Finance services companies involved in international trading. It is about
helping clients manage risks involved in international trade and resolving any other
issues associated with their international transactions.
“Every day is different in Transaction
Services…there’s always a challenge
around the corner.”
3
What different areas are there in
Transaction Services?
• Securities Services
This involves servicing or managing a client’s securities (usually defined as non-cash
assets such as bonds and shares). A key function here is safeguarding a client’s
securities. This is where the phrase ‘custodian bank’ comes in – in other words the
bank takes custody of the securities.
• Capital Markets
Capital Market Sales, a specialist team within Transaction Services offers products
and services for managing client transactions on the capital markets. Also provides a
comprehensive service to set up and maintain professional risk management for
their clients.
“I like the wide variety of work I do – I
don’t know what I’ll be doing week-toweek.”
4
What does an intern do?
Transaction Services interns have:
- reviewed current client use of the firm’s cash management products to provide
recommendations on how clients could improve their liquidity and save money
on fees
- developed models to compare pricing differentials between different clients
- identified daily leads for the sales team and revamped the process by which
each new sales deal is approved
- gone on Sales Calls to offer other products that could make clients’ cash
management processes more efficient
- analyzed supply chain activity to develop value proposition for several client
pitches
- built out an Earnings Credit Rate dashboard to show clients how much banking
fees they could offset by optimizing their balances
- analyzed the market for one of the bank's product offerings and made
recommendations to senior leaders as to how to remain competitive in the
space
“Every day is different in Transaction
Services…there’s always a challenge
around the corner.”
5
Transaction Services Placement
Citi Global Transaction Services (GTS)
-
Summer: 10 weeks (Treasury and Trade Solutions or Securities and Fund Services)
Full-time: 3 one-year rotations (Tampa, Delaware, Columbus and other locations)
Deutsche Bank Corporate & Investment Bank: Transaction Banking (CIB:TB)
-
Summer: 10 weeks (Cash Management, Trade Finance, Trust & Security Services)
Full-time: 4 three-month rotations (5 week training in London, placement at 60 Wall)
J. P. Morgan  Treasury & Securities Services (TSS)
-
Summer: 10 weeks (Sales or Business Analyst)
Full-time: 4 six-month rotations (training before each rotation. NYC, last rotation is
abroad)
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SEO Transaction Services Program
Requirements
– Minimum cumulative GPA of 3.2
– Excellent interpersonal skills (KEY!)
– Exceptional logical written and verbal communication skills, including
the ability to convey complex ideas simply
– Advanced analytical and research skills
– Superior strategic/break through thinking and problem solving abilities
– Strong leadership aptitude and initiative
– Ability to work both independently and as part of a team
– Familiarity with Microsoft Office (esp. Excel and PowerPoint)
– Preferred majors include: finance, accounting, economics, operations
research or business management and administration.
Open to Juniors only | Internships
located in NYC
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Why Work in Transaction Services?
• Opportunity to be in a client facing role – You'll be talking directly to and
entertaining clients as a routine part of your job
• You will gain immediate exposure to senior management
• Quickly develop a firm-wide perspective of your firm’s lines of business
– you’ll be talking to other teams within the bank, in other banks and
other parties involved in Transaction Services (such as clearing houses
and exchanges)
• You will get hands-on experience developing business processes and
creating innovative products
“The reason why I chose Transaction Services is
because I was looking for something that would
be more client facing where I would be able to
talk with clients and actually work to solve their
problems.”
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Why Work in Transaction Services?
• Working in Transaction Services develops managerial and
entrepreneurial skills and it is a great space for students interested in
starting their own business one day
• Work/life balance – The average analyst works from 8AM – 7PM and
no weekends
• Salary – starting salaries are comparable to investment banking – up to
75K
• Stability – Transaction Services is a fee based business so relatively
stable compared to other areas in banking
• Challenging - there are a lot of different areas, products and services
you'll be expected to learn about
• Opportunity to work on an international assignment. Possible locations
include London, Hong Kong, Tokyo, Sao Paulo etc
“I like the wide variety of work I do – I
don’t know what I’ll be doing week-toweek.”
9
Intern Perspective: What attracted you
to Transaction Services?
“I was looking for project-based
work that required me to draw on
my analytical, managerial and
creative skills. I would say if a
student is interested in doing
meaningful work, collaborating
on cross-functional teams to
creatively solve problems and
actually see your work's impact,
then Transaction Services is
definitely a program you should
consider.” – Tamara Carson,
University of Connecticut,
Transaction Services Class of
2011, Deutsche Bank
10
Intern Perspective: What attracted you
to Transaction Services?
“I chose Transaction Services
because I was looking for a
unique experience where I would
be able to develop a variety of
skills – rather than simply
developing financial skills and
excel efficiency, I wanted to be
challenged to engage in problem
solving and come up with
strategies to help my firm’s
clients improve their cash
management solutions.” – Matt
Sisneros, St. Mary’s University,
Transaction Services Class of
2011, J. P. Morgan
11
Intern Perspective: What attracted you
to Transaction Services?
“I was attracted to this industry
because of the strong organic
revenue and profit growth over
the past 5 years. Moreover, the
opportunity to network with the
senior management at a world
class market leading franchise
was a huge selling point.” – Paul
Kivuva, University of Florida,
Transaction Services Class of
2011 , J. P. Morgan
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