The Internal Organization of a Local Brick and Mortar Business

The Internal Organization of a Local Brick and Mortar Business
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The Internal Organization of a Local Brick and Mortar Business
Citibank is a local bank in Los Angeles and is part of the many branches across the United States. As a commercial bank, Citibank has nine major departments that make up the bank’s internal structure and organization. Various people work in these departments in an effort to enable the bank meets its goal of giving financial services to the public and therefore this paper uses the division-classification strategy to explain the bank’s internal organization. The local Citibank in Los Angeles has departments such as the retail banking department, wealth management department, loan servicing department, deposit operations, cash management, electronic banking department, investment banking, mortgage banking and wire transfer operations department. All these departments are typical of most commercial banks in the United States and particularly the Citigroup banks.
The retail banking department in Citibank consists of banking professionals such as the customer service managers, loan officers and tellers. The duties of these professionals include offering services to the customers in areas such as savings, personal loans, mortgages, credit and debit cards, and checking their accounts. The wealth management department is made up of professionals that mainly deal with giving services in investment portfolio management and financial planning. The other department is the loan servicing department, which has agents that deal with the payments of individual and business loans. The department also deals with the collections of the mentioned loans.
Another department in Citibank is the deposits ope...