Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
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This role is essential to ICG Operation’s successful delivery of its assigned Resolution Planning projects as well as a variety of Markets related re-engineering projects including out-of-currency trade processing and cost-effective electronic trade confirmation (ETC) processing. Projects will cover all asset classes and will vary in complexity from time-bound discrete tactical process improvements to strategic front-to-back re-engineering. In addition, this role will serve as the team’s primary point of contact when its Director is unavailable.
The successful candidate will conduct workshops, conduct value stream mapping and solution identification and actively be involved in:
- Refresh of the 165(d) FMU playbooks;
- Updating of FMU Contingency implementation plans;
- Further build out of the Account Transfer Feasibility Study;
- 2018 IDI Plan submission;
- 2019 165 (d)submission;
- Ongoing SRP and CLAR exams
The role involves forming truly productive and collaborative partnerships with Operations colleagues in line functions to jointly draft and verify the various plans required to comply with our regulatory requirements.
The SVP will play a key role in leveraging the Resolution Planning preparation process to identify both improvement opportunities within the Resolution Planning process and the Operations and business processes that it’s reporting on. These improvement opportunities need to be clearly defined, scoped and most importantly achievable.
The environment is fluid and fast-paced; and all results are expected to be accurate, complete and delivered unambiguously.
Since 2012, Citi has submitted its annual Resolution Plans (aka, 165D or Living Will) to the FDIC/FRB. Each year the plans are further enhanced and ‘Operationalized’, in addition to incorporating responses and enriched content as defined by annually published Joint FDIC/FRB Guidelines.
In addition, during the next five to seven months, Citi will transition its Resolution Planning submission preparation process from an annual “virtually” staffed project team to a “BAU” line process. During this time, the foundation will be built to not only enable a successful migration; but also to ensure that the firm’s plans are reviewed and updated as required by major internal or external triggers and/or on a quarterly basis.
The successful candidate will play a critical role as part of the ICG O&T Resolution Planning submission by working with business units to assist in the identification, prioritization and delivery of opportunities within the area.
In addition, this group has been involved in a variety of Market Operations strategic initiatives including the MSSB migration, decoupling dependencies on legacy retail based applications, resolving outstanding Warrants issues, re-designing the out-of-currency settlement-booking model for Fixed Income and Prime-Broker ETC cost saving initiatives.
Increase cross product knowledge and the associated front-to-back business processing life-cycles. Significantly strengthen knowledge of inner working of financial markets and their touch pint with Dodd-Frank. Opportunities to demonstrate ability to deliver complex programs, provide creative solutions to difficult Operational processing challenges, identify hidden cost-savings opportunities and to expand into more senior regional and global roles
Define and document opportunities for improvement in target areas
Work with Process Owners and Sponsors to ensure key processes are documented and are fully understood
Lead workshops to draft our IDI and Resolution Planning documents
Perform FMU process contingency analysis and future state modelling
Provide regular and accurate reporting of project progress, deliverables and anticipated outcome
Administer of various Resolution Planning meetings and prepare the associated agendas and subsequent minutes and summaries
Acts as the primary contact when the teams’ Director is unavailable
• Solid practitioner level knowledge of financial products and basics of FMUs
• Strong facilitator of workshops and meetings to engage and draw contributions from all contributors
• Experienced influencer of people and comfortable interacting with all organizational levels
• Good experience managing the people side of change to ensure buy-in and commitment to solutions implemented and overcome resistance
• Experience managing project teams and motivating people to deliver without line management authority
• Experience with data collection, sampling and measurement, validation and analysis
• Self-starter, used to working under own initiative
• Coaching/management of junior employees (direct team members and employees of the extended organization)
• Bachelors degree or in lieu of a degree, a minimum of 4 years of relevant work experience
• A minimum of 10 years of Financial Services or equivalent work experience
• Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience
Demonstrable an in-depth understanding of:
• Financial Markets (Cash Securities) products
• Trade Processing-Life Cycle
• Middle Office and Operations daily processes and controls
• Project management and business analysis
• Basic accounting including “T” accounts
• Communicates through words and actions an intense passion for, and commitment to, re-engineering and process improvements
• Proficient in MS Word, Excel, PowerPoint
• Extremely organized and detailed
• Conceptual thinker and creative problem solver
• Ability to produce quality deliverables that are complete and accurate
• Ability to multi task
• Ability to adapt to a fluid and changing environment
• Excellent verbal and written communication skills