The Capital and Commercial Stream offers the opportunity to focus on improving New Zealanders’ wellbeing through utilising the Government’s commercial and financial assets.
You will be at home in this stream if you have a genuine interest in
- financial, commercial and operational asset management
- financial risk and performance management
- delivering value through effective balance sheet management
- ensuring effective business through corporate governance.
To apply for this stream you will have a 300+ level degree in either Accounting, Business Studies, Economics, Finance, Mathematics or Statistics.
In this stream, you will have the opportunity to:
- Conduct qualitative and quantitative analysis to support Ministerial advice on various commercial and governance decisions
- Collaborate with Crown Entities, State Owned Enterprises and cross-Treasury teams to understand key risks to delivering commercial strategies
- Execute technical processes such as pricing financial instruments or assessing value at risk from a financial portfolio
- Partner with debt management and export credit to consider the liability side of the balance sheet in all advice, and
- Support the key accountability processes between Ministers and Boards.
For more information, read our graduate stories below.

Eva: Graduate Analyst, Commercial Infrastructure and Urban Growth
Eva: Analyst, Commercial Infrastructure and Urban Growth
In my experience, the best way to learn is by doing, and the Treasury provides you with the support and encouragement to embrace your strengths and confront areas in need of development.
I appreciate the invaluable level of responsibility I have been provided at such an early stage in my career.
My role as a Relationship Manager in the Commercial Performance team can involve meeting with executive teams of State-Owned Enterprises or Crown entity companies to discuss their finances, policy and strategic direction, and then communicating the outcomes of these discussions to shareholding Ministers. It is important that I stay on top of the key issues and trends in the industries these entities operate within.
If you desire a career that matters not just for yourself, but your community and New Zealand as a whole, where you can collaborate with other passionate individuals from a range of diverse backgrounds, you belong at the Treasury!
Jordan, now Associate Portfolio Manager, Capital Markets

Jordan: Graduate Risk Analyst, Capital Markets
After completing university, I wanted to work for an organisation that allowed me to gain experience in both finance and economics.
Straight into the role, my team and managers had complete confidence in my ability to perform research and be involved in interesting projects including Funding benchmark, Interbank Lending Rate (IBOR) transition, and more.
Capital markets manages the funding needs of the crown. As a Financial Risk analyst, my team is responsible for managing financial risk and implementing policies related to portfolio valuation. Beyond that, I am working on developing strategic policy around the Government’s Funding strategy - looking at how we can optimise or have some sort of benchmark so we can make sure that our funding strategy is as good as it can be. If you have a passion for finance and capital markets, the Treasury is the perfect place to start your career.
Contact Us
If you have any questions regarding the graduate programme or the application process, please email us at [email protected]