Markets Operations is currently at a pivotal point in its evolution and journey to implent a target operating model. We take pride and are passionate about our People and our culture. We are invested in people and their development. We are transforming and simplifying our operating model creating an exciting environment which encourages diversity of thought and inclusion.
We are a dynamic, global and diverse organisation, with a presence in over 80 Countries; covering all post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.
Our Operations groups are core to the success of the Markets business and has significant impact across the lifecycle of a Trade. We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. We have a Client relationship group dedicated to overseeing the group service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first class experience when doing business with Citi.
Our Digitization and Implementation group works alongside our Operations teams delivering automation solutions to solve for operational challenges. We partner with Citi’s innovation labs to drive optimization and overall play a pivotal role in enabling us to transform to achieve our target operating model.
Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning.
Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace. We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm and our reputation.
We work closely with our external global peers, partners and regulators, and play an integral part in leading an agenda at the forefront to optimise and streamline processes and drive strategy across our industry.
Job Purpose:
This role entails determining and delivering on risk strategy & remediation across the global Markets Operations function, the candidate will act as a senior Risk Lead for the Organisation, responsible for ensuring we have appropriate supervisory oversight and governance across our Operational functions.
The team’s remit includes:
Risk framework strategy and implementation
- Regulatory and Internal Audit remediation for cross-Markets Ops findings (e.g. MRAs/ Audit Escalation Reports)
- Control Framework oversight for Payments and Balance Sheet Management
- Effective design and implementation of broader Ops Control Solutions
Risk Metrics strategy and oversight
- Strategy and design of Operational Risk metrics /strategic dashboards
- Governance of Risk Metrics
This includes ensuring that best practices are set and embedded globally across our Operations teams and ensuring we can report and oversee our risk and control metrics and transform the culture and operating model to create a robust control environment.
The candidate will partner with first line and second line, and across all Markets Ops functions and regions to review the control framework for key risk areas, conduct a gap analysis relative to current state, leading to a plan for control enhancement requirements.
The candidate will assess our current control operating model and propose and execute on alignment of processes to ensure optimal organisational structure for best in class risk management of our functions. The candidate will review risk metrics, and lessons learnt so that themes are understood and solutions are created in a holistic and consistent manner.
The candidate will liaise with a number of stakeholders, internal and external, to review and execute a holistic strategy across Audit and Risk partners to ensure we have a consistent and cohesive approach across the Organisation vs our obligations
The role provides a range of opportunities to impact and influence the overall target state design and implementation of our strategic transformation priorities including:
- Strategically position the Operations organization by helping to formulate the future vision of our operating model
- Implementing best practices and global consistency, simplifying & standardizing processes, and flows
- Opportunity to learn and acquire expertise across a range of products and asset classes
- Empowerment to make decisions and drive a strategy
- Significant interaction with a wide range of stakeholder groups and senior management to help drive the agenda
Key Responsibilities:
Organizational Oversight:
- Partnering with Markets Operations to ensure we are set up to succeed. Executing vs a strategy that fosters a culture and environment where processes, risks and controls are continually monitored, and potential risks escalated on a timely basis as well as acting as a senior point of escalation
- Embedding an effective supervisory control framework that fully meets Audit, Compliance and Regulatory requirements.
- Determining core control framework for Markets Lines of Business
Transformation to Target State:
- Review our suite of controls and suggest change to uplift the risk profile throughout the Organisation and its products
- Drive standardization of controls across regions and suggest opportunities for harmonisation across teams
- Implement plans and execute vs milestones ensuring we meet deadlines
- Ensure our infrastructure and tools meet the needs in order to manage risk. Develop and suggest operating model changes in order to pivot the operations Organization towards digitization and a robust control environment
- Driving and supporting the delivery of strategic platform re-engineering initiatives, with conscious intent to standardize and industrial flow, reducing manual touch points and aligning tech delivery vs. business goal and wallet share optimization
- Supporting the implementation of initiatives to continuously improve Straight Through Processing (STP) rates
Story Telling:
- Help drive comprehensive risk KPIs/Metrics for senior executive consumption – for each product and function, working in close partnership with the product Leaders
- Analyse risk metrics for trends and lessons learnt
- Partner with the Ops product leaders to understand and update process flows, challenges and potential solutions and present opportunities to senior Management
- Articulate solutions vs current state for digitization, automation, low code solutions and straight through processing
Skills & Qualifications:
- BS/BA degree or equivalent work experience preferred
- Significant experience related to operations or capital markets preferred and people management experience
- Experience delivering strategic change programmes in a fast paced, large global financial services firm,
- Strong people manager and experience leading global teams including; hiring, training, mentoring and developing team members
- Excellent verbal, written, and presentation skills. In particular, demonstrat ability to effectively communicate technical and business issues and solutions to multiple organizational levels internally and externally as needed to support the strategic goals.
- Strong risk management and control mindset
- Self-reliant, good problem solver, results oriented
- Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint.
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Job Family Group:
Risk Management--------------------------------------- ---------------
Job Family:
Operational Risk-------------------------------------- ----------------
Time Type:
Full time------------------------------------- -----------------
Primary Location:
Jersey City New Jersey United States------------------------------------ ------------------
Primary Location Full Time Salary Range:
$163,600.00 - $245,400.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
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Anticipated Posting Close Date:
Jul 08, 2024---------------------------------- --------------------
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