Schools MBAs and Undergrads to Mentor Senior Citi Executives on Digital Strategies
September 26, 2013
A select group of the School’s MBA and undergraduate students will serve as mentors to senior Citi executives as a way to incorporate their perspective on social media and digital technologies for long-term strategies. The unique “reverse mentoring” program, designed by Citi, will involve 15 Citi executives working in the consumer bank, Citi treasury and trade solutions, wealth management and private banking, public affairs and human resources divisions of Citi’s Latin American regional office.
One junior, senior or MBA student from the School of Business will be paired with each of the 15 Citi executives for six months beginning in October 2013. They will focus on such projects as mobile payment and mobile wallet trends; communicating with millennial customers; the social media relationship between consumers and the banking industry and its impact on Citi; the value proposition for prospective Citi millennial employees; and the firm’s digital retail business.
“Reverse mentoring is a very innovative practice, especially in the banking industry. We believe in the valuable contribution that young students can offer through their fresh perspective and we expect to take advantage of that to fine-tune our digital strategy for the next ten or fifteen years”, said Alvaro Marquez, Human Resources Head for Citi Latin America. “The University of Miami School of Business Administration is a great partner for these purposes, since many Latin American social trends and business opportunities are generated or early captured in Miami”.
The student mentors will work with their executive mentees in face-to-face meetings, as well as virtually, throughout the program. Throughout the duration of the program the students will receive training sponsored by Citi in presentation skills, innovation and design thinking.
“We are very fortunate to partner with Citi on this program, which we believe will not only bring value to the firm and its digital media strategies, but will enable our students to gain valuable hands-on experience in the business world,” said Dean Eugene W. Anderson. “It is through such experiential learning that our students can test, develop and refine the leadership, networking, presentation and other skills they need to be successful in today’s increasingly competitive business environment.”
The reverse mentoring program is another in a number of collaborative initiatives involving the School of Business and Citi. The firm has recruited nearly 50 young alumni and graduates over the past three years. The offices of undergraduate business education, career services, and alumni relations also work together to bring students and Citi executives together throughout the year. This includes organizing career fairs, bringing Citi executives to speak to student organizations or classes and networking with School alumni who currently work at Citi – a group dubbed “Citi ‘Canes.” Citi Latam recently began hiring students from the School for full-semester paid internships. Students work full-time in a variety of roles, getting the opportunity to connect with people around Latin America.