Job Description
About us:
Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 28,000 corporate client groups and around 11 million private and small-business customers in Germany. The Bank’s two Business Segments – Private and Small-Business Customers and Corporate Clients – offer a comprehensive portfolio of financial services.
Our work environment includes:
- Modern office setting
- Work-from-home days
- Growth opportunities
The Role:
The Vocational Trainee (VT) scheme is a Sponsored Degree Programme that provides trainees with the opportunity to work full time, whilst studying towards a degree.
Upon joining, you will be assigned to a business area within Commerzbank, where you will stay for the duration of the scheme (three and a half years). The scheme has been developed to replicate the “Kaufmann" apprenticeship based training programmes which are well renowned in Germany.
During the first two years, you will study towards a Higher National Diploma (HND) in Business (Accounting and Finance) at the European College of Business and Management (ECBM).Upon successful completion of the HND, you will study for a further year and a half to top-up to a BA (Hons) degree in Business Management. The BA (Hons) is provided by ECBM and is accredited by the University of South Wales.
Overview of Programme:
- Three and a half years structured programme working full-time whilst studying towards an HND and degree
- Qualifications gained: HND in Business (Accounting and Finance) as well as a separate banking qualification (Bankkaufmann/Bankkauffrau), and a BA (Hons) degree in Business Studies
- Typically attend college for three days of every month
- Study leave: eligible for up to five days per academic year (in the first two years) and up to seven and a half days during the last year and a half
- Challenging work on a diverse range of projects
- On-the-job learning, with a dedicated team, and a buddy to support you
- A host of transferable business skills
- All college fees are paid for by the Bank on top of your basic salary. Other benefits include 25 days annual leave (plus bank holidays), selling and buying of annual leave, private healthcare, life cover and a non-contributory pension scheme
Your Profile:
- Minimum of 120 UCAS points at ‘A’ level or equivalent
- Fluent in English and a good level of Maths
- Genuine interest in working in a banking environment
Applications:
We open for applications in December 2022 and close February 2023.
Your application should include a copy of your CV, and a cover letter including:
- Why you are interested in working for Commerzbank
- Why you would like to join the Vocational Trainee Scheme at Commerzbank
Would you like to become a member of a strong and dedicated team? If so, please submit your application online via our job board: www.jobs.commerzbank.com. Visit www.commerzbank.com/career for more information.
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Typical VT Business Areas:
The 2023 business areas are yet to be confirmed and will be discussed at interview stage.However, to give you a guide, Vocational Trainees have previously been hired in the following business areas:
Capital Markets:
- The Capital Markets is a global team within Corporate Clients and is dedicated to delivering best-in-class capital market related solutions to corporates, financial institutions, and public sector clients. With its client-centric approach, the team provides primary and secondary capital markets solutions. Primary markets solutions include advisory, structuring, syndication, and execution expertise across all asset classes, both on debt and equity capital markets, backed by an extensive distribution network of international investors and other market participants. Our secondary markets offering comprises FX, rates and commodities related investment and risk management solutions, incorporating digitisation of business and trading processes into our service range.
- Capital Markets also accompanies its clients on their path of sustainable transformation offering sustainable finance products and services.
Finance:
- The roles and responsibilities of the Finance team in London are wide-ranging. The department is responsible for the day-to-day transactional accounting for the business.
- For example, this includes daily Profit &Loss (P&L) and extends to the preparation of monthly and annual figures that feed into the management reports and statutory accounts of Commerzbank as well as the statistical and regulatory information required by external authorities such as the Bank of England, the PRA in the UK and BaFin in Germany.
Treasury:
- The primary goals of Group Treasury are to safeguard Commerzbank's liquidity and to manage the risks arising from the banking book.
- Group Treasury is a cornerstone in the Bank's integrated financial resource management framework and manages the non-client-related asset portfolios.
Segment Management and Business Control (SMBC):
- Provides the foundations for the Corporate Clients segment to succeed in delivering value accretive financial performance.
- SMBC shapes the Corporate Clients segment by owning the business model and by enabling, supporting, and tracking the implementation of winning strategies as well as working alongside sales, clusters, central functions, and operations.
International Corporates:
- International Corporates is responsible for relationship management of large UK corporate companies (including many FTSE100 and FTSE250 companies) as well as relationship support for UK subsidiaries of international companies
- The team identify the business needs of our clients and then work with Commerzbank’s product team colleagues to deliver appropriate solutions across the Capital Markets, Lending and Transaction Banking business areas
Lending (Asset Finance International):
- The Asset Finance International team focuses on delivering working capital solutions and other bespoke financing solutions to clients of Commerzbank in all international branch locations (excluding DACH and Americas).
- Given the nature of the international client base, there is a focus on more bespoke solutions delivering clients any combination of liquidity, risk transfer and balance sheet management solutions.
Transaction Banking:
- We advise our corporate clients to optimize their Cash Management and Trade Finance business
- With its client-centric approach, the Sales Team identify the needs of our clients in this business and provide them suitable solutions along the available product range (e.g., Corporate Banking Portal, cash pooling, guarantees, Trade & Supply Chain Finance)
What do our current VTs think?
“Commerzbank’s VT scheme provides a perfect start into the banking industry, from day one you’re exposed to tonnes of knowledge, expertise, and support from your colleagues. Everyday you’ll be learning something new and exciting, from joining in September you’ll easily progress to have your own jobs and role that you serve in your department, making you feel like a valued team member.”
- Year 1 VT
“The Vocational Trainee (VT) scheme has been fantastic so far for my career and personal development. Everyone is welcoming and understanding of the fact that VTs come straight from school, so my comfortability was ensured from the beginning and teams are very encouraging for you to get involved from the start! With study leave days and days off to complete university work, the bank has been accommodating to make sure that work both in the workplace and at university is completed to the best of my ability. I am also completing rotations in other teams, allowing me to understand a greater breadth of how the bank functions and how other teams interact with one another. Along with internal and external course offerings and opportunities, overall, the scheme strongly positions its trainees for a good start to our careers, allowing us to gain a whole suite of experience very few our age have!”
- Year 3 VT
“Commerzbank’s VT programme allowed me to immerse myself into the finance sector culture from leaving Sixth Form. Retrieving all the benefits from university and more, without the debt has allowed me to become an attractive employee, opening various opportunities and maturing within the company. The Scheme is challenging and achievable, you get to meet international colleagues and make various friendships along the way.”
- Final Year VT
_“The Vocational Trainee (VT) Scheme gave me the best of both worlds; I was able to study for a degree and gain practical experience through my full-time role within the Bank. Unlike the traditional university route, I had a variety of opportunities via my role within the Bank, including gaining knowledge from colleagues, departmental rotations, working in other locations and professional development.
I think joining Commerzbank London after sixth form and completing the VT Scheme was the best route I could’ve taken; it gave me a head start to my career. I also met some great people along the way and had an amazing amount of support from my colleagues.”_
- Final Year VT
Job Types: Full-time, Apprenticeship
Schedule:
Ability to commute/relocate:
- London: reliably commute or plan to relocate before starting work (required)
Work Location: One location
Application deadline: 26/02/2023
Expected start date: 25/09/2023
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