The Unofficial Guide to Banking

What do banks do?

Put simply, banks provide services for people or organisations who want to borrow, lend and invest money. They are often huge, complex organisations that play a part in the lives of people in every corner of the world, with clients ranging from individuals to businesses, and even the governments and central banks of entire countries.

Explore

Division overview

Asset Management

Corporate Banking

Corporate Finance

Fixed Income & Currencies

(Sales, Trading, Structuring and Financing)

Infrastructure

(Group Audit, Chief Administration Office (Anti-Financial Crime, Compliance, Legal and Regulatory Affairs), Chief Financial Office (replacing Finance), Chief Risk Office, Human Resources, Operations, Group Strategic Analytics)

Private Banking & Wealth Management

Research

Retail Banking

Technology

Where could you fit in?

It’s an exciting time to join the finance sector. Technology and innovation are pushing the limits of what banking can achieve. It means banks like ours are bringing together new skills and different perspectives to innovate, progress and make a positive difference. It’s a mind-set that’s true wherever you work - from technology and finance through to wealth management and corporate finance. Find out where a career in banking could take you.

Find roles at Deutsche Bank

Find roles at DWS

What is Asset Management?

In Asset Management, there’s one key objective: generating income for clients. This is done by directing a client’s capital into a range of investments, chosen carefully by balancing risk, opportunity, and other variables – such as timeframes and other investments in a client’s portfolio.

On behalf of their clients, an Asset Management team might invest in stocks, bonds, property or the foreign exchange to help a client meet their investment goals. These are just some examples of common investments.

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Division overview

Within Asset Management, there are two sides to the business:
investments, and client coverage.

Investments

This is the ‘doing’ arm of Asset Management. Researchers, portfolio managers and traders work here, managing and making investments for clients.

Client Coverage

This arm of Asset Management positions and sells the investment services offered by the bank, and manages relationships with clients.

Client Coverage

This is about providing investment services and strategies to help clients invest in a way that will grow their capital. Clients can be either institutional (huge, big money firms) or retail (typically smaller or individual investors).

Passive Investments

Passive Investments take a much more long term ‘buy and hold’ strategy, where the idea is to maximise returns by minimising buying and selling. Passive investing builds wealth gradually, rather than seeking to profit from short term price fluctuations in the way that active investing does.

Active Investments

This involves the active buying and selling of assets such as stocks, bonds and shares. The aim is to take advantage of short-term price movements to beat the stock market’s average returns.

Alternative Investments

Alternative Investments involve assets that don’t fall into one of the traditional asset classes like stocks, bonds and cash. This includes things like Real Estate, Infrastructure, Commodities or Private Equity. These are riskier investments, but can generate high rewards.

Product development

This is where new and innovative financial products are developed for clients, getting them to market as well as ensuring they are fit for purpose and in line with all regulatory requirements.

Jargon buster

AUM

Assets Under Management is how much money a company is managing. This key metric tells you how big the company is compared to others and also can be used for calculating management fees.

Liquid asset

This is a financial asset that can be easily converted to cash within a short timeframe, such as stocks and bonds. It’s typically found in active or passive investment strategies.

Illiquid asset

This tends to be a higher risk asset that cannot easily and readily be sold or exchanged for cash, due to lower trading activity or interest. These types of assets are typically found in alternative investment strategies.

Diversification

This is a very important part of risk management strategy. Asset managers will often invest in different types of assets – at higher and lower levels of risk – to ‘diversify’ the portfolios they handle and minimise risk.

Yield

The yield is the amount of money that is earned on an investment. For shares, it’s the annual dividend payment. For property, it’s the rental income as a percentage of the total value of the property. For bonds, it's the annual interest as a percentage of how much they are worth at any given time.

Is Asset Management right for you?

From working with the world’s largest investors, to being at the heart of global events, a career in Asset Management can be as exhilarating as it is rewarding. Find out what skills and qualities we look for to be successful within DWS.

1

Strategy and insight

Strategic skills and sharp insight are key to developing products at the forefront of our industry.

2

Focus on the future

Forward thinking is essential in Asset Management: to make a sound investment, you need to think ahead and evaluate potential risks, returns and complications.

3

Good work ethic

The market never sleeps. Working in Asset Management, you’ll need to be ready to work hard to help your clients and develop your specialism.

4

Strong motivation

In Asset Management, your success is measured by the portfolios you manage. To progress, you’ll also need to take professional exams.

5

Genuine passion

While not as fast-paced as Sales & Trading, Asset Management is still a fairly high-pressure career path. To go far, you need to be genuinely passionate about the work you are doing.

Find roles at DWS

Find roles in Corporate Banking at Deutsche Bank

What is Corporate Banking?

The Corporate Bank partners with clients such as financial institutions, investors and issuers to shape the future of financial services together.

Corporate bankers specialise in offering clients the best products and solutions to make the most of their companies’ financial management. They provide them with services like liquidity management, foreign exchange, payment, trade finance and credit solutions.

It’s a huge and complex business where clients expect the latest technology, personalised advice and the benefits of broader industry expertise.

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Division overview

Cash Management

This is about making the most effective use of the bank’s liquidity to help clients with cash flow. The bank can identify client money that’s not doing anything and suggest a place to put it, monitor exposure and reduce an organisation’s risk when cash is tight, and make sure that collections are made from debtors in good time.

Lending

Clients want to ensure they can keep their company running, expanding and modernising. They may want to invest in new machines, equipment or in digitalisation. That’s where corporate banking comes in – supporting them with a wide range of financing options for any size of business.

Trade Finance

When an importer has to pay for goods upfront, they can find themselves in an exposed position if something goes wrong or gets held up. Trade finance supports the flow of world trade by advancing loans to purchasers and protecting them against the risks that come with prepayment for large transactions.

Risk Management

When carrying out cross-border business, importers and exporters are exposed to specific risks, such as exchange and currency risks, non-payment, damage to goods in transit and fraud. Corporate banking experts advise them on the best way of reducing these risks.

Jargon buster

Cash pooling

An automated physical movement of cash to and from different subsidiary bank accounts into one, centralised ‘header’ bank account on a domestic, regional, or global level. This enables treasurers to benefit from better visibility of cash and simplify cash management structures while avoiding overdrafts and other bank fees.

Corporate Trust

The provision of agency and other related services to support debt capital markets activity.

Letter of credit (LC)

An LC is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. If the buyer is then unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

Custody

A securities collection and distribution service provided by financial institutions – the institution collects dividends, proceeds and interest from customers’ security sales before distributing them on their behalf.

Corporate Actions

Events related to holding a security – it could be dividends, coupon payments, bonus issues and takeovers, for example. These can be mandatory (e.g. dividends) or voluntary (e.g. takeovers).

Is Corporate Banking right for you?

With a diverse range of work and clients all over the world, a career in Corporate Banking offers plenty of possibilities. If you want to make an impact, here are some of the skills we look for at Deutsche Bank.

1

Curiosity

You’ll need to be hungry to learn about a lot of different industries, products, and services, and to keep your knowledge up to date.

2

Thick skin

TV and film tends to exaggerate what life in banking is like, but you will need to keep a cool head under pressure.

3

Good with people

Some of your time will be spent entertaining clients – hosting them at events, and going out with them in the evening. And you’ll need to be able to bring together diverse groups of people and get them to deliver work.

4

International outlook

You’ll work with people from lots of different countries, and be involved with multi-national clients right from the start.

5

Attention to detail

You’ll need to be the first person to spot areas of concern for your clients, and understand how global events can affect your work.

Find roles in Corporate Banking at Deutsche Bank

Find roles in Corporate Finance at Deutsche Bank

What is Corporate Finance?

Corporate Finance provides strategic advice and capital markets products that help clients build their business. Or to put it another way, they link companies that need money with investors that can provide it.

On behalf of its client, the bank will issue debt or shares, and sell it on the global market to pension funds, mutual funds, hedge funds and private individuals. The money this raises can then be used to fund the client’s growth.

Roles in corporate finance can broadly be divided into two categories; origination teams, who work with clients to understand their needs and identify new business opportunities, and product teams, who develop and execute specialist solutions within capital markets or by providing advice they may require.

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Division overview

Mergers and acquisitions

In a merger, two companies of roughly similar size join together to create a larger entity, usually under a new name. In an acquisition, a larger company buys and absorbs a smaller one or runs it as a subsidiary. Depending on who they’re acting for, bankers will introduce buyers and sellers of companies to try and make a deal happen.

Equity capital markets

To raise extra money, a business can offer stock – a ‘share’ of itself – for sale to investors on the equity capital market. Capital markets are an essential part of the modern economy, bringing together buyers and sellers of equity assets.

Leveraged Finance

A way of raising money. Generally, it’s related to an acquisition or asset purchase where a combination of higher yielding (higher interest) loans and bonds are provided as a cheaper way of financing a transaction as opposed to equity or cash.

Debt capital markets

Another means of raising money is through debt – usually in the form of bonds. Bankers working on debt capital markets provide businesses with advice on raising, refinancing, and restructuring this debt.

Investment Banking Coverage

Delivering the most relevant products across advisory, capital markets and risk management products to senior decision makers on the client side. Teams are typically grouped around particular industries (sectors) or geographies and work with clients in these segments.

Jargon buster

WACC

Weighted Average Cost of Capital (WACC) is a method for analysing the combination of debt and equity that is most cost effective for the funding needs of a company.

Road Show

This involves marketing a potential transaction to investors in more than one physical location accompanied by senior management from the company, or conducting these same meetings on a virtual basis.

LBO

In a leveraged buyout (LBO), one company acquires another relying primarily on debt to pay for the acquisition. The idea is to cheapen the cost versus relying on equity or cash and may result in higher returns if the value of the company increases.

SPAC

Special Purpose Acquisition Company (SPAC), is a public equity investment where investors provide funding to a management team or investment idea. The funding is then used to acquire a company with investors who are given the choice to continue to hold the company or redeem their investment.

Tombstone

A graphic included in a marketing presentation, traditionally in a box or ‘tombstone’ format, to highlight recent successful transactions in a related area to provide evidence of why a bank should be chosen.

Is Corporate Finance right for you?

With a diverse range of work and clients all over the world, a career in Corporate Finance offers plenty of opportunities to make an impact. If you want to help build the bank of tomorrow, here are some of the skills we look for at Deutsche Bank.

1

Ambition

In a profession that attracts high achievers, you’ll need plenty of ambition and determination.

2

Numeracy

Being able to do quick calculations in your head under pressure will give you the edge when you’re deciding on a course of action.

3

Hungry to learn

Although you’ll come to specialise in a particular field, you’ll need to keep learning all the way through your career. It’s quite the learning curve.

4

Good with people

Some of your time will be spent entertaining clients – hosting them at events, and going out with them in the evening. And you’ll need to be able to bring together diverse groups of people and get them to deliver work.

5

Attention to detail

You’ll need to be the first person to spot areas of concern for your clients, and understand how global events can affect your work.

Find roles in Corporate Finance at Deutsche Bank

Find roles in FIC Sales, Trading, Structuring and Financing at Deutsche Bank

What is Fixed Income & Currencies?

At Deutsche Bank, roles in our Fixed Income & Currencies (FIC) business can largely be broken down into four areas: Sales, Trading, Structuring and Financing.

Although this is just one part of a bank’s work, it is where a lot of its commercial activities take place. In simple terms, traders buy and sell products like debt (bonds) and commodities (like oil and natural gas) and execute foreign exchange deals to make an incremental profit and/or hedge risk.

Sales, Trading, Structuring and Financing encompass the following asset classes: Interest Rates, Foreign Exchange, Credit and Emerging Markets.

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FIC Products

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Division overview

Trading

In a Trading role you will be responsible for taking risk decisions, you could put your coding skills to work to develop state-of-the art quantitative models to price bonds, interest rate derivatives, caps, floors, swaptions and exotic options. You will liaise with Structuring to source the various exposures that make up bespoke products developed for clients.

As a market-maker you will match client flows on both sides, hedging any residual risk in the market and monitoring all risk parameters. Market insights are key to develop trade ideas that you will present to Sales and directly to clients.

Through regular contact with Sales and other DB teams (eg. Corporate Finance, FX Structuring) you will gain insights into client activity and decision making. You will learn to filter and interpret large volumes of information from a range of financial markets to form a view on market sentiment and identify drivers of buyers and sellers.

Through on-the-job learning you will develop a deep understanding of our trading systems and our client franchise to be able to handle real-time and strategic challenges.

Structuring

Structuring teams provide products that are tailored to clients’ specialised needs. They might help an institutional investor achieve a required risk profile, or a corporate looking to acquire new equipment through financing.

Financing

Deutsche Bank has a market leading financing business with a global footprint and unique capabilities. We offer structured risk and non-flow financing solutions for clients globally across multiple industries and asset classes.

Sales

Sales people are in touch with institutions, corporates and private individuals, suggesting appropriate investment opportunities, potential trading strategies and products. If, for example, a currency suddenly increases in value, or there’s a new bond issuance, the sales team will inform investors and suggest the best course of action.

FIC Products

Foreign Exchange (Currencies)

Foreign exchange markets are at the crossroads of macroeconomic policy, financial markets, and corporate activity. Companies and institutional investors hedge their foreign exchange risk or invest in FX as an asset class using a range of products, from linear (eg. spots and forwards) to highly complex structured instruments (eg. exotic derivatives), and precious metals.

Credit

The Credit business is where corporate debt meets financial markets. Our market-making desks trade credit products across the liquidity spectrum, from highly liquid vanilla corporate bonds to bespoke structured securities, and across the credit risk spectrum, from investment grade through high yield to distressed. Our financing desks deploy DB’s balance sheet to lend to corporates, private equity sponsors and other institutional investors in structured trades across a variety of industry sectors.

Interest Rates

Does a company need to hedge its complex interest rate exposure? Or does an insurer or pension fund want to manage asset-liability risk? Or does an institutional investor seek to invest in an innovative product? The Rates business transforms a client’s complex financial needs into a bespoke product that is well constructed and efficiently risk managed.

Emerging Markets

Our emerging markets business offers a fully integrated and global product platform across many countries, offering clients onshore expertise and connectivity, linked into Deutsche Bank’s global network. With a focus on execution capability, we provide clients with market access and multiple solutions in a wide range of products. Our product range includes Foreign Exchange, rates, derivatives, structured cross-market derivatives covering multiple Emerging Markets jurisdictions and external debt and Credit Default Swaps.

Jargon buster

Sell side

Investment banks like Deutsche Bank come under the umbrella of ‘sell side’ firms. On this side of the financial market, firms deal with the creation and selling of public and private securities to those on the ‘buy side’ of the industry.

Buy side

Hedge funds, pension funds and asset managers are all on the buy side. They raise money from investors as well as investing into securities across various asset classes.

Asset class

The public side of an Investment Bank is home to sales, trading, structuring and research professionals who only deal with publicly available information. The public side will often have business areas split via asset classes – an asset class is a grouping of comparable financial securities like Rates, Credit, FX and Commodities.

Bid/Ask

When traders put a price on a specific financial product, there are two separate facets to the price. The ‘bid’ is the price at which a trader in the bank is prepared to buy the security (from a participant on the buy side). The ‘ask’ is the price at which a trader in the bank is prepared to sell it. (The ‘ask’ is sometimes called the ‘offer’.)

Securities

The term securities once referred to paper certificates sent out to investors as proof of an investment. Today, it’s used more broadly as a way of describing the most common types of investments – from stocks and shares to commodities like oil and gold, and bonds. An organisation that sells a security is known as the issuer.

Is Sales, Trading, Structuring and Financing right for you?

It’s the kind of job that many people imagine they’d enjoy, but the reality might not suit everyone. Have you got what it takes?

1

Calm under pressure

You’ll be making quick decisions about products worth millions of dollars, so you’ll need to be calm and collected when things get tough.

2

Interest in financial markets

The rewards are impressive, but to succeed you need to have an insatiable demand for knowledge about how the markets operate.

3

Natural networker

This kind of work is built on positive interpersonal relationships, and you’ll often spend time entertaining clients.

4

Fast learner

There’s only so much that theoretical learning can prepare you for – the rest, with the support of your team, you’ll be expected to pick up as you go along.

5

Good with numbers

Even though computers can carry out any calculation in the blink of an eye, being able to calculate the likely impact of a trade yourself is a real advantage.

Find roles in FIC Sales, Trading, Structuring and Financing at Deutsche Bank

Find roles in Infrastructure at Deutsche Bank

What is Infrastructure?

The infrastructure divisions perform control and service functions across the bank, in particular tasks relating to, human resources, operations, finance, audit, legal and compliance, as well as financial services such as risk management and regulation. Some will have begun their careers in banking, but many will have crossed over from a similar role in a different industry. And as banks become more heavily regulated, they depend more on teams of specialists in each division.

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Division overview

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What is the Chief Financial Office (CFO)?

The Chief Financial Office (CFO) oversees all financial details of Deutsche Bank. Global teams provide accurate and timely financial information as well as advice and analysis to Deutsche Bank’s businesses and infrastructure functions.

The CFO is a strategic group, looking to control costs, limit risk and strengthen Deutsche Bank’s decision-making process. It consists of group wide functions (Tax, Group Finance, Chief Accounting Office, Treasury, Planning & Performance Management, and Investor Relations), dedicated teams for each of the Bank’s core divisions and infrastructure areas, as well as regional finance.

What is the Chief Risk Office (CRO)?

Deutsche Bank is exposed to a wide range of risks every day. Credit losses, volatility of market prices, operational failures, infrastructure outages, liquidity shortages, regulatory requirements and legal matters can all have an impact on the bank’s capital and reputation. It is the responsibility of the Chief Risk Office to identify, aggregate, manage and mitigate these risks.

The Chief Risk Office (CRO) does this through rigorous monitoring and measurement processes, framework of principles, close collaboration with the Deutsche Bank’s Business divisions and other infrastructure areas. Risk management continually evolves and adapts to keep pace with increasingly complex financial products and ever-changing market dynamics.

To be successful in this environment requires a truly integrated approach of capital and risk management, a model embodied by the Chief Risk Office (CRO) and the bank. This industry-leading platform is built on consolidated management of capital, funding, and liquidity; comprehensive stress testing; and robust underwriting and monitoring standards.

Roles in risk management include:

Credit: working on the bank’s internal credit approval and monitoring service
Market: studying shifts in the market and assessing their impact on the bank’s trading
Investment: assessing risks associated with entities the bank buys or invests in
Operational: assessing internal risks like system failures and fraud
Group Strategic Analytics (GSA) is responsible for the development and delivery of quantitative analytics across the entire Deutsche Bank Group. The group employs Quantitative Strategists covering all aspects of model development, implementation, and execution. We produce our own analytical frameworks and applications and collaborate with technology and business partners to solve real business problems.

GSA play a critical role ensuring the accuracy of our pricing models as well as the integrity and stability of our capital and risk calculations. GSA are also responsible for curating our analytics to provide robust processes driven by data and analysis to enhance our client flows and revenue.

What is Human Resources?

Human Resources (HR) makes operational and strategic decisions about the bank’s current and future workforce, attracting, recruiting and retaining talented people, making sure they’re properly trained and ensuring that people are treated fairly. Their main areas of responsibility include:

Recruitment: hiring the best employees to meet the demands of the business
Training & Development: ensuring employees have access to training and development opportunities throughout their careers
Compensation and benefits: managing salaries, perks and bonuses
Employee relations: resolving disputes while observing correct processes
HR advice: acting as consultants on strategic HR issues to senior management
Regulation & governance: setting and communicating company rules and procedures
Internal mobility & redeployment: creating opportunities to retain and redeploy talented employees

What is Operations?

Operations makes sure the bank’s business is carried out efficiently, on time, and without risk. It’s largely concerned with Sales & Trading, and the millions of transactions that take place there every day. Its main responsibilities include:

Trade processing and support: clearing, settling and documenting every trade
Market: promoting smooth internal data communication
Investment: supervising and servicing activities while reporting on transactions
Client Service: advising and communicating with clients on transactions they’ve made with the bank

What is Group Audit?

Group Audit has an integral role in the achievement of a bank’s strategic goals and is responsible for examining, evaluating and reporting on the design and effectiveness of internal operational systems, as well as risk management and governance processes. Work here involves:

Assisting the bank’s businesses: and infrastructure functions to identify and control weaknesses.
Advising: with a high profile in the bank, Group Audit acts as an independent and forward looking challenger and adviser to Senior Management on any issues and occurrences and are increasingly consulted for advice by the regulators.

What is the Chief Administrative Office (CAO)?

The Chief Administrative Office (CAO) is primarily composed of Anti-Financial Crime (AFC), Compliance, Legal and Regulatory Affairs. Jointly, the CAO functions provide the strong and necessary control environment for our bank to deliver on its strategy and to enter a phase of sustainable growth going forward.

Anti Financial Crime (AFC) performs a critical role in keeping Deutsche Bank’s business operations as well as the global financial services clean from financial crime while serving the interests of the bank and society at large. Thus, AFC cooperates closely with regulatory authorities and also contributes to the fight against cybercrime. Areas of responsibility include adherence and policy management for anti-fraud, bribery & corruption, anti-money laundering and sanctions & embargoes.
Compliance is mandated by regulators to be a fully independent control function that monitors, assesses and trains on compliance with legal and regulatory requirements and internal policies, provides advice on compliance to the management body and other relevant staff, and establishes policies and processes to manage compliance risks.
Legal (incl. Group Governance) is a fully independent infrastructure function, mandated to provide legal advice both to the Management Board as well as to the business divisions and infrastructure functions and to support the Management Board in setting up and guarding Deutsche Bank’s Governance framework and manage the Bank’s Legal and Governance Risk.

Typical work includes:
- Employment law: supervises employee-related legal matters and litigation.
- Intelligence: research and due diligence on legal risks to the bank’s business.
- Litigation and arbitration: handles legal proceedings that involve the bank.
Regulatory Affairs is responsible for the Bank's relationships and cooperation with regulators providing a clear understanding of regulatory requirements. Areas of responsibility include building relationships with regulators to ensure we are complying and accurately responding to regulatory requests.
Chief Operation Office supports CAO in fulfilling its holistic responsibility and drives the strategy of CAO.

Jargon buster

AML

Anti-Money Laundering refers to the policies, laws, and regulations to implement in order to prevent financial crimes.

ERM

Enterprise risk management is what a company does to manage business risks.

KYC

Know Your Customer. This is all about having enough data and information to understand how customers behave in order to identify any suspicious activity on their account.

EBITDA

EBITDA stands for ‘Earnings Before Interest, Tax, Depreciation and Amortisation’. This is the percentage of profit a company makes before taking away certain things like tax charges. These things can make it hard to know how well a company is really doing.

Lines of defense

This is a framework that outlines internal audit’s role in assuring the effective management of risk. The first line of defence includes functions that own and manage risks, the second line of defence are functions that deal with compliance, the third line of defence are functions that provide independent assurance.

Is an Infrastructure role right for you?

Depending on the role or area you’re interested in, certain skills may be more useful than others. At Deutsche Bank, there’s no specific type of person we look for. Wherever you work, you’ll enjoy an environment that will bring out the best in you.

1

Team player

You’ll be a great communicator, ready to learn and happy to share ideas and perspectives with colleagues all over the bank.

2

Attention to detail

You go about your tasks with accuracy and thoroughness and recognise that the smallest details can make a big difference.

3

Agile & open minded

We look for people who are open to new ideas, eager to learn and keen to explore their long-term career options.

4

Proactive

The banking world is ever-changing. It’ll be up to you to bring a go-getting attitude and a readiness to make the most of the opportunities that lie ahead.

5

Professional

A bank is a highly professional environment where you’ll need to be reliable, respectful and work with integrity at all times, in everything you do.

Find roles in Infrastructure at Deutsche Bank

Find roles in the International Private Bank at Deutsche Bank

What is Private Banking and Wealth Management?

Individuals with substantial wealth often have complex financial arrangements, and want to make sure that their asset portfolios are generating the best possible returns. They’ll work with a specialist advisor at a bank with in-depth knowledge of financial markets and investment opportunities who will understand their perspective and help them reach their goals.

Wealth managers work in a consultative way, getting advice from appropriate experts and offering appropriate products and solutions.

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Division overview

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Division overview

Within Private Banking and Wealth Management, there are two types of services: discretionary or non-discretionary.

Discretionary

Clients hand over responsibility for executive portfolio management to the bank.

Non-discretionary

Clients receive advice from the bank, but make final decisions for themselves.

Relationship managers

Relationship managers are the main point of contact for clients and are responsible for acquiring new clients too. They create and maintain strong relationships with clients, solving problems and listening to feedback. They will usually be an experienced investment advisor.

Product specialists

These are typically experts in a particular asset class who will develop investment products and make them available to clients.

Investment managers

Investment managers act in the market and make decisions by working closely together with the client about where investments are placed. Ultimately, they’re responsible for how clients’ portfolios perform.

Jargon buster

UHNW

As the name suggests, Ultra-High-Net-Worth individuals are some of the world’s richest people – they hold investable assets totalling at least $30 million.

Wealth Planning

Wealth planning is about understanding client objectives and planning strategies that are designed to help protect, grow and effectively manage a client’s wealth.

ESG

ESG (Environmental Social Governance) are the three factors that make up how sustainable a company is. It includes looking at the environment, social governance, and financial performance. People think this will tell you more about what will happen in the future to a company's finances.

DPM

Discretionary Portfolio Management (DPM) is when a portfolio manager or investment counsellor makes decisions about what to buy or sell with a client’s money. The term "discretionary" refers to the fact that investment decisions are made at the portfolio manager's discretion.

CBV

Client business volume (CBV) is a measurement of a client’s business that takes invested assets, sight deposits and loans into consideration.

Is Private Banking and Wealth Management right for you?

Managing the assets of some of the world’s wealthiest people is a fulfilling and challenging job – but their expectations can be high. Some of the skills we look for at Deutsche Bank include:

1

Good at communicating

You’ll need to give expert advice on complex matters to people with varying degrees of knowledge.

2

Resilient

If something goes wrong, it’ll be up to you to explain why, and decide on a course of action to get things back on track.

3

Curious

There’s a lot to learn, and you’ll be expected to have far-ranging and in-depth knowledge.

4

Socially adept

Building positive relationships with clients is a big part of the job, so you’ll need to enjoy being around people.

Find roles in the International Private Bank at Deutsche Bank

Find roles in Research at Deutsche Bank

What is Research?

Research provides financial analysis across various asset classes – a grouping of similar investments. The bank’s research team analyses relevant trends in financial markets, the economy and society as well as highlighting risks and opportunities, and acting as a consultant for clients and stakeholders.

Essentially, Research is about delivering high-quality, independent analysis that helps investors to understand markets and promotes public debate on various issues.

What would you like to see?

Division overview

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What skills you need

What our graduates think

Division overview

Company Research

Involves fundamental analysis of companies with the aim to have a view on the share price. An analyst will recommend to buy, sell or hold the shares to their clients.

Economic Research

It’s important for a bank to know what’s happening in major global economies like the USA and UK – that’s where Economic Research comes in. Analysts here have expertise in a particular area.

FIC Research

This involves the analysis of interest rates, credit, currencies, and other assets with a view to making a recommendation on investment strategy.

Thematic Research

Banks need to be able to advise clients on all sorts of different topics, not just finance. Thematic research involves researching and writing on interesting (and often more abstract) subjects to help inform clients’ decision making. Areas of research could include everything from cryptocurrencies and Environmental, Social and Governance factors through to Covid-19 cases and vaccination rates.

Jargon buster

Cheap and expensive valuation

This refers to a stock being either under-priced or over-priced relative to the outlook for a particular company (where the fundamentals may be either better or worse than its competitors). A range of techniques are used to assess valuation.

Bull & Bear

Bull is an investor who expects prices to rise. Bear is an investor who expects prices to fall.

Chinese wall

An imaginary barrier which restricts the flow of information between the public side of a business (research, sales, and trading) and the private side (corporate finance, private equity).

Primary & secondary offering

Primary offering is when a private company taps the markets to raise money – think Uber. Secondary offering is when an existing public company raises more money from investors.

Cloud

Cloud computing allows users of global banks to access new and upgraded software wherever they’re based, eliminating the need for large, costly IT infrastructure. The speed at which banks can evaluate and adopt new tools and applications can also be hugely increased.

Bonds & Coupons

Bonds are loans that are a promise by a borrowers like corporates and governments to repay the borrowed amount on an agreed upon interest rate and a fixed payment. Coupons refers to the interest that the borrower of the loan pays to the holder.

Is research right for you?

If you love to get to grips with all sorts of different issues and you’d enjoy turning complex data and information into meaningful insights, Research could be the perfect place for you. Here are some of the skills we look for at Deutsche Bank.

1

Interest in financial markets

You should have a good knowledge about how financial markets work, and what can drive different assets to the react the way they do.

2

Inquisitive mind

Research is about questioning information, thinking creatively and asking the difficult questions. It’s an environment for people who want to dive deeper to broaden their understanding

3

Good with numbers

This is all about using accounting and other data to think about past, present and future trends.

4

Strong writer

Research analysts often write reports to explain their views to the markets and to clients. It’s vital to communicate what can be very complex information clearly and concisely so it’s easy for busy clients to digest.

5

Confident communicator

You’ll be speaking to clients, companies, industry experts, and different stakeholders within the bank about your analysis and insights. That means you’ll need to be comfortable talking to people with different agendas.

Find roles in Research at Deutsche Bank

Find roles in Retail Banking at Deutsche Bank

What is Retail Banking?

Retail provides products and services like loans, mortgages and current accounts to individuals and small companies. It’s the kind of banking we think we all know, but there’s much more to it than high-street branches and call centres. It’s a huge, complex and competitive business where customers want the latest digital technology without losing access to personal advice.

Opportunities in retail range from front-line customer service and branch management to relationship management and product development. People with aptitude can progress quickly and will get the chance to study for professional qualifications.

What would you like to see?

Division overview

Jargon busters

What skills you need

Division overview

Customer service

Working on the counter at a branch or in a contact centre, customer service teams are the first point of contact for the bank’s retail customers. They help with queries and problems, and refer them to the appropriate specialists.

Product development

Product development teams make sure that the bank’s range of services – like credit cards, savings accounts and insurance – meets the changing demands of its customer base and are marketed appropriately.

Branch management

Branch managers are responsible for the commercial performance of their business unit, managing in-branch recruitment, setting targets for junior staff, and reporting on activity to the wider bank.

Strategy

Strategy specialists analyse market conditions and competitor activity to see where the bank could gain an advantage. They also review the bank’s performance against its targets and produce reports and insight.

Jargon buster

Targets

Bank branches will be set financial targets by head office, which they'll try to meet by making money on the products that are sold – all while still providing excellent customer service.

POA

Power of attorney is when someone is given third party control over an account.

Credit

Retail banks are an important source of credit for people. They give you money in the form of loans, credit cards and mortgages, to buy big things like houses and cars. Credit is an important because it helps the economy to grow.

AML

Anti-Money Laundering is about understanding and recognising the techniques criminals will use to gain benefit from the money they make from their crimes.

Is Retail Banking right for you?

Retail Banking is fast-paced and you are often seen as the face of the Bank if you work in branch. Find out the kind of attributes you’ll need to be a success.

1

Client focus

Retail banking is all about making customers’ lives better, easier and happier. You’ll need a passion for delivering best in class customer service at all times.

2

Communication skills

You’ll be dealing with people who have some financial knowledge – like small business owners – and people who have very little. You’ll need to tailor your style for each audience.

3

Relationship builder

Learning how to build relationships is the key to winning and retaining business in retail banking; you need to do the kind of work that can make a lasting impact on your clients.

4

Numeracy

Not all roles in retail banking require you to be a mathematical genius but a head for figures can be advantageous – you’ll often need to think on your feet.

5

Team player

You’ll work closely with teams providing services, advice and guidance to clients on a daily basis; effective teamwork can make all the difference.

Find roles in Retail Banking at Deutsche Bank

Find roles in Technology, Data & Innovation at Deutsche Bank

What is Technology in Banking?

The right technology can give one bank the edge over the competition and plays a big part in compliance with regulations that continue to evolve. It’s now less to do with IT support, but rather about emerging trends set to transform the industry like Blockchain and AI, and the increasing significance of the Cloud. That’s why institutions invest vast sums in tech and employ tens of thousands of people to develop and maintain it.

It’s most evident on the trading floor, where it makes trades faster, more competitive, and more profitable. But technology, and making technology better, is crucial to every part of a bank.

What would you like to see?

Division overview

Jargon busters

What skills you need

What our graduates think

Division overview

Engineers

Engineers create new applications and software to be used by the bank, or adapt software that’s been acquired from a third party to the needs of their institution. They work on everything from retail customer-facing mobile banking apps to applications that use financial modelling to help traders make better decisions.

Information Security

Information Security identifies and evaluates data security threats and finds ways to manage, deter and remove them. This involves monitoring, analysing, developing and supporting security controls, and managing disaster recovery plans.

QA Testing

Analysing requirements, writing test cases, and creating test data are just a few things Quality Assurance (QA) Testing teams do to ensure products uphold the highest standards. From planning and strategy to analysis and reporting, this team watches their work come to life in a way that drives banking forward.

Business Analysts & Project Managers

Business Analysts assess existing systems and develop proposals for new requirements. Project Managers will manage all stages of the activity through development, running a team of engineers and dealing with third-party suppliers. It’s up to these individuals to troubleshoot problems that come up in testing, and hand over a robust new product to the rest of the business.

Service Management

Service Management teams are hands-on technicians, supporting the banks functional teams and leveraging their expertise to ensure best-in-class Service Management. From monitoring and tracking production data to supporting the resolution of issues, their insights and input help advance the banking industry.

Data Scientists

Data Scientists design and develop algorithms, implement technical solutions, and configure applications. From participating in the design and architecture of data science solutions to exploring technologies to be used, they contribute to the creation of the data science body of knowledge and represent the bank as a data science practitioner in industry initiatives.

Jargon buster

ML

Machine Learning (ML) is all about finding patterns in data and using those patterns to predict the future.

AI

Artificial intelligence (AI) is transforming banking operations, reducing response times to customer queries, improving fraud detection, and automating investment decisions by aggregating thousands of variables and potential outcomes in seconds.

Big data

This is a term that describes a very large volume of information that is difficult to process using traditional methods. This data can be used to analyse trends and in some ways improve customer satisfaction with things like personalised suggestions.

Quantum computing

Quantum computers can process information much faster and more efficiently than traditional computers. These computers are based on quantum mechanics and can solve complex problems that even the most powerful supercomputers cannot solve.

Cloud

Cloud computing allows users of global banks to access new and upgraded software wherever they’re based, eliminating the need for large, costly IT infrastructure. The speed at which banks can evaluate and adopt new tools and applications can also be hugely increased.

Blockchain

Blockchain is a system that records information in a way that makes it difficult to change, hack, or cheat the system. It's like a digital ledger of transactions. Each block in the chain contains many transactions, and every time a new transaction occurs on the blockchain, they have to be updated everywhere at once.

Is Technology right for you?

Technology is shaping our industry at rapid pace, unlocking new possibilities in finance, and reimagining what banks can be. If you want to transform the future of banking, these are the skills we look for at Deutsche Bank.

1

Problem solver

The demands made on the technology team are unique; solutions to outdated or unsuitable systems aren’t always obvious, and you’ll need creative thinking to find the answer.

2

Calm under pressure

Banks are intense places to work, and tech is no exception. You’ll need to feel confident working in a demanding, exciting environment.

3

Adaptable

In technology, everything can be turned on its head by a new innovation overnight. You’ll need to stay ahead of the curve if you want to thrive.

4

Good communicator

Of course you’ll need to know your trade – but because you’ll be working with people from right across the bank, it’s important that you can explain your thinking in simple terms.

5

Future-focused

From day one, you’ll become part of a global team that is transforming the world of banking. Your curious mindset will help to keep us one step ahead.

Find roles in Technology, Data & Innovation at Deutsche Bank

Privacy Notice

At Deutsche Bank we recognise the importance of personal information entrusted to us. It is one of our fundamental responsibilities as a bank to ensure that we protect the information entrusted to us by our clients and our website visitors. Please find below select security measures we established to protect your privacy

Why does Deutsche Bank collect personal information?

We collect, process, and use personal information on our websites in order to offer you even better products and services, best adapt our business processes to our clients’ needs, and steer you to the most suitable product information and online banking applications.

How is information collected and how long is it retained?

Information collected on our website will only be retained for as long as necessary to fulfil the purpose for which it was collected. If you wish to access or correct any information Deutsche Bank AG holds about you, you may have your data deleted, blocked or corrected (as long as compliant with applicable law). You have the right to access the personal information we hold about you; this service is free of charge.

What information is collected and how is it used?

Data tracking
Tracking information includes details of the originating page that you used to access the Deutsche Bank website including the search requests you may have made when using a search engine. Details of the Deutsche Bank websites you visited and which search terms you may have used on the website are also collected, as well as additional information about website errors, website scrolling and the volume of data transferred between your browser and the web server.
Length of stay
We record the duration of your visit by processing when your visit started and came to an end as well as the network activity time, pop-up display time and the time that any errors occurred.
Pseudonymised IDs
Your pseudonymised IDs (uniquely identifiable number combinations) are stored In order to identify you as a repeat visitor to our website.
Session information
Besides temporary session IDs, with which your visit can be assigned via several subpages, your session information also includes the duration of the session.
Campaign information
Campaign information comprises the advertising media you have clicked on, where it is located and which marketing campaign it belongs to.
Loading times
The information collected includes the time taken for images and the whole website to load, as well as the time at which the website was loaded completely and the time spent on the website.
Location information
Where available, we collect information about the postcode, town, country, longitude, latitude and time zone of your visit.
System information
The information about the system with which you visit the website, including the display resolution, the operating system and browser used, network and connection information, the end device used, information about cookies, flash and JavaScript as well as the language setting, your domain, the IP address (shortened) and where applicable your organisation (if available)
We use the information collected on our websites to compile user profiles using pseudonyms. These pseudonymised user profiles do not allow any of your personal details to be identified. You can opt out of your information being collected by using the “Analytics & Re-Marketing Opt-out” link further down this page. Without your explicit consent this tracking information will not be combined with your personal information.

How is information retained, protected and used?

Information input collected through this website will be transferred to the responsible Deutsche Bank AG division. Banking secrecy as well as confidentiality are maintained. Data will not be transferred to third parties, unless necessary to answer your queries (i.e. leaflets dispatched by vendors). Your information is used to exclusively fulfil the purpose for which it is collected, relating to the website through which it is collected.
Websites through which we collect your information are usually encoded using the encryption module of your browser. These sites are certified by renowned institutions for international encryption technique, analogous to Deutsche Bank’s Internet Banking. Moreover, Deutsche Bank AG put in place additional and comprehensive state-of-the-art security measures when both accounts and custody accounts are accessed via the Internet. Firewalls prevent unauthorized access.
Diverse encryption and identification layers protect customer information from intrusion or disclosure to third parties during data transfer. Furthermore, Deutsche Bank AG internally uses sophisticated encoding methods in order to prevent de-coding by unauthorised persons. Moreover, an electronic identifier is generated during data transfer to safeguard your information.

Data privacy notices and EU General Data Protection Regulation

In addition to this website-specific privacy notice, further data privacy information, as required by the EU General Data Protection Regulation under A. X. in German and English.

Data privacy notes on social plugins

Our website uses social plugins (“plugins”) from the social networking sites Twitter, Facebook, LinkedIn and XING. If you access a Deutsche Bank website using such a plugin, your browser will contact the server of the underlying social networking site, load the visual presentation of the plugin, and present it to you.
While this is happening, the social networking site receives information concerning your visit to our website, as well as further data such as your IP address. In order to ensure an appropriate level of data privacy in connection with our internet presence, we have deactivated the respective plugins with a button and placed a short data privacy note that can be consulted before a plugin is activated.
Our website also contains links to the social networking sites like Facebook, Flickr, Instagram, LinkedIn, Twitter, XING or YouTube. We have no influence on the data that social networking sites collect via an active plugin or via a link. For more information, please consult the relevant data privacy notice:

Cookies

In view of the importance of data privacy, and our obligations of transparency, we provide information below about cookies, how we use them on our website.
What are cookies?
Cookies are small text files that are sent to your computer to ensure the technical functionality of the website. Deutsche Bank uses cookies in some areas of its web pages to make it easier for you to use the pages and to make them more personalized.
What are cookies?
When trying to understand cookies, it can help to know following terminology:

Cookies installed on your device by the organization running the website you are visiting are known as “first party” cookies.
Cookies installed on your device via the website you are visiting by another organization are termed “third party” cookies. An example is a cookie set by a specialist website analytics company that provides the website owner with data on the numbers of people visiting its website (Cookies for range and usage analysis).
So-called “persistent cookies” remain on your device even after you close your internet browser. They are activated each time you visit the website that created that particular cookie. For example, where a "persistent cookie" is used on a website to remember your login details, you will not need to enter those details each time you visit that website (Functional and preference cookies).
Session cookies, by contrast, are temporary and are typically used to enable the website to operate, e.g. by permitting a user to move from page to page without having to log in again. Once you close your browser, all session cookies are deleted (Technically necessary cookies).
Flash cookies are installed by websites that contain media (e.g. video clips). Adobe Flash software is required for this. This allows content to be downloaded more quickly and information to be stored, for example that the content has been accessed from your device (Functional and preference cookies).

What cookies do we use?
This website only uses cookies that are necessary for the technical functionality of our website and the recognition of errors and security relevant conspicuous features or to offer a service or functionality requested by you; e.g. a cookie that "remembers" your personal settings such as selected language or similar. Marketing cookies and other cookies requiring your consent are not used on this site.
The following technically necessary cookies are used.

Cookie name	Purpose of use	Class	Lifetime	Type	Processing company
io	Marketing	Optional	End of Session	Persistent	Webtrekk GmbH
wt_rla	Marketing	Optional	1 months	Persistent	Webtrekk GmbH

How to control cookies
Some cookies allow you to take full advantage of the functionality of our website. In order to offer certain functionalities, certain technically necessary cookies can be used to display these functionalities correctly.
You can set your web browser to disable cookies. Please note that most browsers offer different ways to protect your privacy. If you do not activate or deactivate certain cookies via the browser settings, it is possible that certain functionalities will not be available to you as expected. For example, you can allow first-party cookies, but block third-party cookies, or receive a notification each time a website wants to install a cookie.
Please note that if you disable cookies in this way, you will not be able to set new cookies. However, it will not prevent previously set cookies from continuing to work on your device until you clear all cookies in your browser settings. Instructions for managing cookies on your browser can usually be found under the browser's help function or in the operating instructions for your smartphone.

If you feel that the above is not sufficient or if you have any queries as regards the collection, processing or use of your information we are looking forward to hearing from you. We will make every effort to reply as soon as possible and take into consideration any suggestions from your end.
For inquiries about the personal data of yours that we hold, please use the following PDF German language form(PDF) or contact us at data.privacy@db.com.

If you feel that the above is not sufficient or if you have any queries as regards the collection, processing or use of your information we are looking forward to hearing from you. We will make every effort to reply as soon as possible and take into consideration any suggestions from your end.

For inquiries about the personal data of yours that we hold, please use the following PDF German language form(PDF) or contact us at data.privacy@db.com.

Webtrekk

The Unofficial Guide to Banking

What do banks do?

Division overview

Asset Management

Corporate Banking

Corporate Finance

Fixed Income & Currencies

Infrastructure

Private Banking & Wealth Management

Research

Retail Banking

Technology

Where could you fit in?

What is Asset Management?

What would you like to see?

Division overview

Within Asset Management, there are two sides to the business: investments, and client coverage.

Within Asset Management, there are two sides to the business: investments, and client coverage.

Client Coverage

Client Coverage

Passive Investments

Passive Investments

Active Investments

Active Investments

Alternative Investments

Alternative Investments

Product development

Product development

Jargon buster

AUM

Liquid asset

Illiquid asset

Diversification

Yield

Is Asset Management right for you?

Strategy and insight

Focus on the future

Good work ethic

Strong motivation

Genuine passion

What our graduates think

What is Corporate Banking?

What would you like to see?

Division overview

Cash Management

Cash Management

Lending

Lending

Trade Finance

Trade Finance

Risk Management

Risk Management

Jargon buster

Cash pooling

Corporate Trust

Letter of credit (LC)

Custody

Corporate Actions

Is Corporate Banking right for you?

Curiosity

Thick skin

Good with people

International outlook

Attention to detail

What our graduates think

What is Corporate Finance?

What would you like to see?

Division overview

Mergers and acquisitions

Mergers and acquisitions

Equity capital markets

Equity capital markets

Leveraged Finance

Leveraged Finance

Debt capital markets

Debt capital markets

Investment Banking Coverage

Investment Banking Coverage

Jargon buster

WACC

Within Asset Management, there are two sides to the business:
investments, and client coverage.

Within Asset Management, there are two sides to the business:
investments, and client coverage.