Insights and experiences

When I started as an Analyst in Internal Audit in August 2024, I wasn’t sure at first what to expect! Audit is quite a dynamic function within the business, as you’ll consistently be looking into and assessing the effectiveness of different areas as you move from audit to audit. That can mean a lot of reading, but also means that you get to familiarise yourself with a really wide range of subject and better understand the business as a whole. Audit can provide a good overview of what different services the Bank offers, and how it’s structured from the Front Office to the Back Office.

One of the best parts about it is getting to interact with different stakeholders (i.e. the teams you’re auditing), as it means you get to talk with a range of senior people across the business; and the best part is, they have to answer your questions! In terms of growing you career, Audit is a good place to start, and I think a lot of its positives might not be as well known.

The audits we perform are increasingly requiring a broader and more diverse range of skills. For instance, during my last audit, we examined the reporting of our FX and Interest Rate derivative transactions. This involved the analysis of thousands of different types of trades across various regional entities and products, as well as having to delve into the many regulatory processes that underpin the reporting. Throughout this, we interacted with stakeholders across all aspects of the reporting process. Through our approach, we identified several enhancements to the overall reporting process, and at the end of the audit, our efforts were appreciated by the key stakeholders, who thanked us for our hard work!

Before I applied to MUFG, I didn’t particularly see myself working in the banking industry, mostly because it seemed a bit daunting and uninviting. However, when I saw the job posting on online, and after doing my own research into the company, I quickly realised that MUFG was a great way to enter and grow my career in finance. It offers a lot of support and benefits across its different graduate schemes as well as opportunities for employees to give back to their communities through employee networks, which I think is one of the highlights of working here.

For anyone uncertain about starting a career in finance (maybe your area of study is completely different), the most important thing to remember is that you’re not going to be asked to do something you’re incapable of doing. Throughout the application process, the assessment centres, the 5-week training, and the actual job itself, the expectations on me have felt really fair, while still pushing me to be as good as possible. The culture here is encouraging, which has made my experience so far enjoyable.

Had someone told me a few years ago that I would build a career in Internal audit (IA), I would have found it hard to believe. With an academic background in Biomedical Sciences from University College London (UCL), my initial aspirations were rooted in research. However, as I progressed through my degree, I recognised that my strengths in problem-solving, critical thinking and analytical reasoning were not confined to scientific research; they were transferable skills applicable across various industries.

Initially, transitioning from a scientific discipline to IA was undeniably challenging. The initial months were characterised by a steep learning curve, during which I had to quickly adapt to a dynamic corporate environment. Throughout my time in IA, I have learnt and continue to learn how to engage effectively with stakeholders, identify key controls and risks, assess whether controls are designed and operate effectively, and determine whether established processes and systems ensure compliance with the policies, procedures and laws. Additionally, I continued to develop my skills in preparing audit working papers in accordance with professional standards.

One of the aspects I enjoy most about IA is its variety and the breadth of exposure. Each audit presents a new challenge – whether it involves evaluating financial processes, assessing operational risks or ensuring compliance with regulatory standards. This diversity fosters continuous development and keeps the role both stimulating and rewarding.

Through these experiences, I discovered that while technical knowledge is important, curiosity, adaptability and a commitment to continuous learning are even more critical to professional growth and success. Rather than viewing my non-financial background as a limitation, I embraced it as an asset that allowed me to approach challenges with fresh perspectives.

Transitioning into IA was a step outside my comfort zone, but it has proven to be an incredibly rewarding decision. The role continues to challenge me, offers numerous opportunities for professional growth and allows me to contribute meaningfully to the organisation.

For graduates exploring career opportunities, I would strongly advocate maintaining an open mind. Often, the most unexpected career paths provide the most valuable experiences and personal growth.

Looking back at my time studying Economics, Banking, and Finance, I always knew I wanted to go into banking, and MUFG stood out to me early on as a firm that does things differently.

One of the things that immediately impressed me about MUFG was its approach to hiring. Unlike many institutions that tend to narrow their candidate pool to a handful of target universities, MUFG actively seeks out talent from a wide variety of academic backgrounds and institutions.

Being part of the Financial Planning & Analysis team, I can confidently say that MUFG supports their junior talent— both in the way it supports your growth and how it encourages you to bring your whole self to work. I’ve experienced first-hand how MUFG turns its inclusive values into real opportunities for growth and contribution.

My team plays a pivotal role in helping the business understand its financial performance, manage costs, and plan for the future. From strategic forecasting and monthly reporting to providing ad-hoc insights for senior management, we support decision-making at every level. By collaborating with various teams across GCIB, the FP&A team ensures that financial planning and analysis align with the bank’s strategic goals and operations. This collaboration provides the FP&A team with a comprehensive understanding of the bank’s overall performance and how different functions contribute to it. It’s a team where I’m constantly applying the analytical skills I gained at university, such as data analysis and financial modelling, while learning how a global institution like MUFG operates in a fast-changing economic environment.

Throughout my experience at MUFG, I’ve had many opportunities to grow and develop my professional skills and build my network – the culture here is genuinely collaborative. People are generous with their time and genuinely want to help you succeed. From engaging with senior leadership to being part of employee networks, MUFG has created an environment where development is not just encouraged but built into the way we work. One thing I’ve especially enjoyed is the opportunity to streamline and automate some of our internal processes. It’s rewarding to know that improving how I work can also help the wider team be more efficient.

When I completed university, I knew I wanted to join a company that would challenge me, help me grow, and allow me to make a meaningful impact.

I was fortunate enough to participate in MUFG’s Summer Internship within Product Control, a programme which largely shaped my understanding of the world of finance and has been a defining factor in my professional career thus far.

The programme was scheduled for 10 weeks and I believe the Early Careers team really approached the itinerary for these 10 weeks with the due diligence to ensure it’s as productive and insightful as possible for all parties. You can expect to spend the first week of the programme with your cohort-colleagues, as this week is typically reserved to provide you with the foundational knowledge needed so you’re well prepped for the remaining 9 weeks on the desk. From the training, I learnt more the history of banking and had the opportunity to develop an in depth understanding of a wide range of financial products whilst developing more technical skills (like VBA and bond pricing). This training was massively well-received – those from non-financial backgrounds did not feel overwhelmed but also those with some knowledge in the field left knowing more than when they came in.

Following the training period, I recall being particularly nervous about starting on the desk. Now, this was admittedly more than the nerves you feel before starting a new job, but was more so related to many of the misconceptions that are always thrown around about the world of banking. It did not take long for MUFG to dispel my unease. My team were really accommodating and very committed to ensuring I got as much out of the programme as possible. For instance, I had the opportunity to sit down with most members of the team, understanding the desks which they produced P&L for and how different instruments changed valuation on a day-to-day basis – this gave me a holistic and well-rounded understanding of the function and also complemented the knowledge I had acquired during the training period. I was then assigned my own P&L. The team will ensure that this is one that, while it caters to your current skillset and understanding, also has tangible impacts on the firm – it’s important work which motivates you to approach it with care.

You will also be assigned a ‘buddy’ during this experience and that goes a long way to ensuring you never feel isolated nor left to your own devices. Your buddy would likely be someone who has been through the same programme before and consequently would be familiar with all the things you might currently be thinking or feeling. Furthermore, it was to my surprise that every member of the organisation I had asked – from Analyst to Managing Director – was more than willing to go for a chat over coffee. This afforded me the opportunity to leverage the knowledge and experiences of those who had been in the industry for years and I was able to get insights you wouldn’t otherwise be able to access.

When I was contemplating where to start my career, MUFG stood out for several reasons. The bank’s reputation for stability and innovation in the financial sector was a major draw. Moreover, MUFG’s commitment to technology and digital transformation offered a unique blend of financial and technological experiences. This alignment with my technical background made it an ideal choice, despite coming from a non-finance background. I studied Electrical Engineering for my undergrad degree.

MUFG’s culture is one of its most compelling attributes. The bank fosters an inclusive and supportive environment where employees are encouraged to innovate and collaborate. The hybrid working model at MUFG is a testament to its adaptability and commitment to work-life balance. It allows for a flexible work arrangement, combining the benefits of remote work with the collaborative energy of office interactions. Being part of employee networks such as the Diversity and Inclusion network has enriched my experience, providing opportunities to connect with colleagues across different departments and regions, sharing insights and fostering a sense of community.

During my rotation in the Financial IT division, I developed Python scripts to manage Oracle Cloud VMs and databases, significantly reducing costs and contributing to the company’s ESG goals which MUFG takes very seriously. This experience honed my technical skills and provided valuable insights into the financial operations of a global bank. I was entrusted with significant responsibilities early on, but always with adequate support and guidance from my team. This not only boosted my confidence but also helped me understand the real-world impact of my work.

In my current role within the Compliance Technology team, I am engaged in reconciliation analysis between WorldCheck data and Siron KYC. This involves ensuring data integrity and compliance with regulatory standards, a critical function in today’s regulatory landscape. Here, I’ve been able to leverage my SQL skills extensively, which was both challenging and rewarding. Communicating these analyses to business stakeholders has sharpened my ability to translate complex technical information into actionable insights for non-technical audiences.

The MUFG Analyst Programme has been a transformative experience. From the intensive training sessions to hands-on projects, every aspect of the programme is designed to build a solid foundation in both finance and technology. The exposure to different areas within the bank has broadened my perspective and equipped me with a versatile skill set. One of the most inspiring aspects of MUFG’s recruitment approach is its inclusivity. The programme welcomes candidates from non-financial backgrounds, emphasising potential and willingness to learn over specific academic qualifications. This inclusive approach ensures a diverse and dynamic cohort, enriching the learning experience for everyone.

Joining MUFG has been a rewarding decision, providing a platform to grow both personally and professionally. The combination of a supportive culture, hybrid working environment, and opportunities to work on impactful projects makes MUFG’s Technology Graduate Programme an excellent choice for aspiring technologists in the financial sector. I encourage prospective candidates to embrace the opportunity, regardless of their background, and become part of a forward-thinking organisation committed to innovation and excellence.

1. Why did you join Product Control?

I joined Product Control because it struck me as a department in which I would be able to really dive into the nuances and technical details as to how trading desks make money. I am someone who really endeavours to challenge myself intellectually and therefore I was very much motivated by the prospect of overseeing the PnL of some of the more structured/complex product types. The department largely sits at the heart of the bank, so I knew I would have collaboration with a lot of other teams and be able to leverage their specialised knowledge and experience to develop my skillset.

2. What do you enjoy about Product Control?

I think Product Control, like many other departments in the bank, is one which places a specific focus on optimisation and efficiency. I am consistently challenged to think outside of the box and carefully think about the different ways that trading profits can be presented and reporting processes can be streamlined. There are often new trades to deep dive into, so you’re able to be very close to the action and would also be trusted to build out new process, thus given autonomy and ownership over your work.

3. What is something that people might not necessarily know about PRO (Product Control)?

The job is a lot more technical than I think most people realise/would expect it to be. In order to effectively produce PnL, we really need to know the ways in which each trade makes money and we also need to reconcile the PV and cash moves on many moving parts within a trade ecosystem. As a result, purely by virtue of overseeing the valuation moves of many of these different products, you get a really informed understanding of financial mathematics and you see many complicated pricing concepts in action.

4. Why should someone apply for the Product Control Analyst role?

Again, this echoes the aforementioned, but you really are able to develop a deep base of knowledge and understanding as to how and why banks are able to make money. As a junior employee in your career, it’s important to have a holistic and diverse comprehension of what trading desks do/what market risk do/how collateral is optimised and this team really puts you at the centre of it all. Furthermore, PRO are keen to give you a lot of responsibility from the get-go, which I think is essential for development in your early career, or at least certainly was for me.

‘Advice to any future interns/grads in any career is to always remain open and willing to learn’

Having studied Maths at university, I joined MUFG as an intern in the summer of 2022 with a fairly limited financial background. Beginning with a week’s training, the programme brought together students from a variety of degree disciplines to learn about the financial industry and how MUFG operates within it. Through the remaining nine weeks, it was great to gain active experience whilst on the desk alongside exposure to senior colleagues through a comprehensive Business Speaker series; this guided an understanding of different business areas and how they may interact. I really valued the time and effort every employee took to spend with the cohort and each of us individually and with such, saw truth in the ethos MUFG aims to harvest in terms of purpose and vision.

Upon graduating, I took up an offer for a place on the MUFG Analyst Programme. In a similar way to the internship, it began entry training which provided an opportunity to build significantly on any foundational knowledge in addition to an excellent opening to expand networks and collaborate with analysts from a variety of geographical locations.

Over the course of the five weeks, I thoroughly enjoyed working alongside all of the fellow analysts in completing tasks, competing in challenges and ultimately creating a presentation which apprehended the whole essence of the training. These weeks justly captured the essence of alliance within the organisation and reaffirmed the decision I took to return post-graduation.

Beyond the first five weeks, the MAP programme develops parallel to your on-the-desk learning. It gives you opportunities to actively participate in Employee Networks, continue to mature through Business Essential Skills webinars whilst also allowing continual outreach to global colleagues through a chat roulette. The programme encourages well rounded growth of all of its participants and most potently equips everyone with the correct tools to thrive in any organisation.

I joined the Information and Data Management department in both the internship and graduate programmes. Broadly split into two categories, the department aims to analyse a range of data sets to identify issues, validate repositories and implement governance framework alongside working to produce accurate and timely management indexes to support executive decision-making and meet regulatory reporting requirements. The department as a whole has access to vast volumes of information and I have therefore especially appreciated the extensive view of the business and its dealings I have gained whilst working within the liquidity risk space specifically. From an on-the-desk perspective, it has been great to join a team of like-minded individuals with varying levels of experience. I have found it particularly useful to draw upon their approachability and wealth of knowledge to learn beyond the scope of daily tasks and take initiative in new findings.

Advice I would insist on giving to any future interns/grads in any career is to always remain open and willing to learn. Often easier said than done, I believe it to be the single most important thing that has aided my development thus far and the robust employee focussed culture at MUFG has encouraged this greatly.

Having studied Economics & Accounting, I joined MUFG Technology Analyst Programme. In this Blog, I will share insight into what its like working in Technology.

In the ever-evolving world of technology, MUFG must strive to stay ahead of the curve by seeking new ways to innovate and improve. This is where the Technology Innovation Management (TIM) team comes into play. Comprising of two key areas, the TEC Business Analyst (BA) function and the Innovation Lab, TIM plays a crucial role in driving system changes, improving efficiencies, and breaking the current status quo.

What is a TEC Business Analyst? The main objective of a TEC Business Analyst (BA) is to accurately analyse current workflows and propose technological system changes across all areas of the bank. The team of BAs is split across various domains, including front office, risk, finance, operations, financial crime and compliance. Through close collaboration with business stakeholders from each department, a BA gains insight into current challenges, pain points, and areas that require improvement. Once the current needs from the business are fully understood, it is the role of the BAs to provide a solution to the issues at hand and set functional and non-functional requirements to develop strategic change.

My first project as a BA was to provide recommendations for a new Securities-Based Lending reconciliation process. This project was not only valuable in expanding my understanding of collateralisation and credit risk, it also provided me with the opportunity to collaborate and learn from various stakeholders in other business functions. Working closely with the Information Data Management team and Trade Platform developers, we were able to identify, map and address the existing challenges and pain points found within their operating systems. This allowed us to strategise and implement effective system changes to improve and streamline the process.

What’s the function of the TEC Innovation Lab? This area of TIM is tasked with fostering creativity and nurturing a culture of innovation within technology and the business. By identifying the most relevant and beneficial Generative AI solutions and the latest technological advancements, the Innovation Lab helps enhance decision-making processes, streamline operations, and create new opportunities for growth and collaboration.

In this space, I had the freedom to develop an application that allowed users to find technology employees based on specific skills and project expertise. Before development went underway, a pitch was necessary to the technology management team in order to gather feedback and concerns. This was my first time presenting to the management team and nerves were running high. Key takeaways from this experience: ensure the vision and ideology is clear and understandable from the get go – it’s important that engagement is made from the first 30 seconds of your pitch, take time to state and explain the value add of your idea and walkthrough mitigating any potential pitfalls.

Currently, I am assisting with the planning and modelling of an AI Documentation Tool with an external vendor. This tool looks to utilizes large language model technology to analyse existing written documentation and process flows to assist with future high-level documentation write-ups. Developing and working through proof of concept projects as such serves as a testing ground for futuristic technologies and ideas. This is what makes working in TIM so enjoyable – it allows experimentation and continuous learning.

Introduction: Curiosity for the Field
My journey into technology began during my GCSEs when I developed an unexpected interest in computer science. Initially, I wasn’t particularly skilled in technical subjects, but computer science offered a different experience. Learning about algorithms, programming techniques, and problem-solving, I realised how these concepts could improve everyday life. This newfound curiosity turned into a passion as I found myself gravitating towards technology, spending weekends reading about the field instead of playing sports. It became clear that technology was the only field I could envision myself working in.

This path led me to university, where I created a heart rate monitoring project to improve lives. Today, I find myself making a difference by working in a bank like MUFG.

Embracing a New Challenge
Transitioning from a tech-focused environment to a role that fuses financial and technical knowledge was both challenging and rewarding. Before finishing university, I decided to apply for jobs in the financial sector to enhance my financial expertise. My long-term dream is to start a gaming/health-tech company, but I realised I needed a solid understanding of financial logistics. This led me to the analyst graduate programme at MUFG, which I joined last summer.

The MUFG Experience
At MUFG, I underwent six weeks of financial training for my role as a technology analyst in the AMD (Architectural Middleware and Data Management) Department. My first rotation was with the app dev team, where I worked on SQL-related problems and developed a full-scale application for the compliance team. This role exposed me to new technologies like Angular for front-end development and C# for middleware. I also learned how to manage and deploy applications using GitHub and schedule jobs using Control-M.

During this time, I updated C# code to create new reports for market data. This involved analysing existing data structures, optimising queries, and ensuring the reports met stakeholder needs. This project honed my skills in data management and software development, showing the tangible impact of my work.

My colleagues were incredibly supportive, guiding me through unfamiliar tools like Control-M and SDA application deployments. I collaborated with other teams, addressing code improvements and programe updates. This experience taught me how to incorporate MUFG’s vision of providing excellent service to stakeholders and delivering outstanding results.

Growing in the Financial Tech Space
Currently, I am in my second rotation in the Enterprise Data Management (EDM) team, where I am enhancing my analytical skills. My role involves documenting processes in a way that business stakeholders can understand, improving business efficiency. This rotation has further expanded my knowledge and skills, preparing me for future challenges and opportunities.

Conclusion: A Perfect Blend of Passion and Purpose
Choosing a career in technology at a bank like MUFG has been a rewarding decision. It combines my passion for technology with the opportunity to make a positive impact on customers’ lives and the broader financial ecosystem. The fusion of financial and technical knowledge has been intellectually stimulating and essential for my long-term career aspirations. As the banking industry evolves, I am excited to be part of this journey, contributing to innovations that will shape the future of finance. I encourage any individuals interested in technology to apply to MUFG. I can’t imagine any better place to start your career than here.

Throughout my time studying Finance, Accounting, and Management at the University of Nottingham, I was fortunate enough to gain insight into the various areas of the financial services and fintech industry.  The MUFG internship programme provided an understanding of MUFG’s business services and the operations of a leading global bank. Parts of the programme involved collaborative team working to create market-focused presentations, one of which included a research report that analysed the impact of the macroeconomic policy response to the pandemic on financial markets.

 Following completion of the internship and graduation from university, I was keen to join the Analyst Programme for graduates.The Analyst Programme begins with five weeks of technical training that introduces graduates to the various financial products that MUFG provide for their clients. Although this training took place remotely due to the pandemic, the programme delivered multiple interactive sessions. It was enjoyable to work on projects and network with other analysts from different backgrounds locally and globally across Europe and America, many of whom I am still in contact with today. When it came to starting in the office, the colleagues in my team were very welcoming and happy to spend time working through technical and financial concepts. It has been great working with experienced industry professionals who are passionate about sharing their expertise on different product-related structures and valuations. As a result, I have been able to continuously develop my financial product knowledge and professional skills, all while building a strong network. 

The Analyst Programme also offers the opportunity to participate in various Inclusion & Diversity and CSR-related initiatives through a range of employee network groups. As a member of the Social Mobility Network, we work towards ensuring that individuals from low socio-economic backgrounds can fully access the opportunities available at MUFG. These activities are a fantastic way to engage with employees from across the bank and attain further insight into the different roles within the organisation. There is additionally a range of network-led charitable fund-raising activities to get involved with throughout the year as well as talks from internal and external speakers that raise awareness of important work/life topics.

A strong attribute of the graduate programme is the early career support graduates receive early on. Graduates are encouraged to follow their interests, which is reflective of MUFG’s strong employee focussed culture. I am excited for the challenges that lie ahead and look forward to advancing my career and building on the skills and experiences gained at MUFG. 

“Congratulations! Your application has been successful.” The one thing every graduate wants to hear after several stressful months filled with insight days, cover letters, job applications, psychometric tests, and interviews. All your hard work has finally paid off, but now what? 

In the few months leading up to your start date, I’d recommend improving your industry knowledge. Whether that’s reading financial news, listening to MUFG’s own podcast, or even watching films like ‘The Big Short’ (2015) and ‘Rogue Trader’ (1999). Anything that will help to familiarise you with the terms used in the finance industry will definitely be beneficial.

However, if you’re in the situation that I was in where, you have a lot of interest and desire to work in the finance industry, but your educational background wasn’t in finance or economics, don’t panic! The Analyst programme begins with five weeks of introductory training, which is basically a crash course in all things finance. You learn the history of banking, key concepts of the industry, and how to interpret and analyse data and you even work in teams for a ‘client pitch’ exercise. This whole process will bring you up to speed very quickly. 

The Early Careers Team here at MUFG ensure the whole joining process runs smoothly and makes each analyst feel very welcomed and supported. On the first day of the programme there were several activities where you are given the opportunity to introduce yourself and learn about the other analysts on the programme. There are also scheduled events like quiz nights and drinks where you get to meet your peers as well as analysts from the previous years in a more informal, relaxed setting.

In this introductory period, you will also meet your manager, buddy (someone from your team who you can ask anything!) and maybe even a few others from your department. Once the introductory five weeks are over and you begin working within your actual department, the support doesn’t stop. From the very start, I’ve been given endless opportunities to develop my skills, network and learn about the company, while being thoroughly supported by the Early Careers Team, my own department and the friends you make while on the Analyst Programme. MUFG is an amazing place to start your career, so don’t worry about what to expect because you’ll be guided and supported the whole time! Be proactive, seize every opportunity and add value however you can! 

At the end of my penultimate year at university, I completed an internship rotating through a number of departments and I was delighted to receive a graduate offer from the Line P&L team within Product Control.

What is Product Control?  The Product Control team at MUFG is divided into two sub-departments: Line P&L and Valuations.

The Line P&L team are responsible for the daily P&L reporting for each business area.  We provide key financial information by explaining profit and loss in depth with respect to attribution of risk parameter movements, deal activity and market linked commentary. The team is engaged in the launch of new products which are to be traded by the firm in order to evaluate the controls implemented for its P&L reporting. Additionally, on a monthly and quarterly basis, we evaluate the performance of business units by detailing market events and key activity that has driven P&L, in which such commentary is distributed internally.

On a monthly basis, for each of the trading desks, the Valuations team prepare independent price valuation reports and analyse the specific risk parameters which may be driving differences in pricing. These documents provide the relevant financial information to governance forums that are contained within internal reporting packages. The team also run balance sheet and trade population reconciliations to ensure completeness and accuracy of trade valuations.

My fascination to join Product Control stems from a number of reasons, particularly the plethora of opportunity you are given even as a graduate. In the short space of a few months into joining the desk, I was given tremendous responsibility of reporting P&L for multiple business units. This experience enabled me to ascertain the fundamentals of different business functions within an organisation, and vastly broadened my technical understanding, which were facets of a graduate job I was looking for.

In addition to developing my technical competencies, I was also able to hone my interpersonal skills as I regularly had the opportunity to interact with other teams across the business including traders and sales reps. This gives me the ease of developing my network and personal brand within the firm, and the gravity of networking is constantly placed at the forefront within the working world.

Furthermore, working in Line P&L within Product Control, you are given more than just the opportunity of working on different asset classes, but you are able to partake in various projects outside your day-to-day role, transition into the Valuations team if this fits your personal interests and you are able to complete the Chartered Financial Analyst (CFA) exam.

Product Control takes great pride in providing its team members with opportunities that will accelerate both their professional and personal development, and it is for these many reasons why I decided to join this team.

Sorting Tool