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Form of work
SalaryWe are a dynamic, global, and diverse Organization, with a presence in over 60 Countries; covering all post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative, Clearing & 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 Derivatives, Clearing and Foreign Exchange Prime Brokerage) 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 the core of all activity at the Firm and have significant impact across the lifecycle of a trade. We partner extensively with a range of internal stakeholders such as 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 service performance and strategic partnerships with top tier clients, where we play a key role in supporting global clients to ensure they have a first-class experience when doing business with Citi.
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 optimize and streamline processes and drive strategy across our industry.
Team/Position Overview:
Collateral Optimization Operations in Markets Operations is a newly formed growing team established to deliver best-in-class capabilities in collateral management, inventory management, risk management and collateral efficiency.
The team support global Markets businesses working across products, regions, and divisions, with a broad range of stakeholders. The objective of the team is to deliver efficient, controlled, and scalable collateral optimization, supporting cost reduction and capacity growth.
The Eligible Collateral Schedule negotiations team undertake the negotiations of Eligible Collateral profiles for uncleared derivatives. These would be both bilateral and triparty arrangements.
The group maintain and update negotiation templates, ensuring they continue to be compliant with applicable regulations. Additionally, the schedules need to align with credit risk tolerances, collateral optimization objectives and operational capabilities.
Transformation:
The Collateral Optimization Program for Markets is a multi-year investment initiative with a clear transformation objective. The successful candidate will play a pivotal role driving collaboration across groups, developing, and reviewing requirements, developing a target operating model, designing robust processes, and implementing new platforms.
Key Responsibilities:
- Provide best in class client service: Through regular and daily engagement with clients, facilitating a seamless experience of negotiation and execution of Eligible Collateral schedules.
- Participate key transformation initiatives: Deliver key enhancements driving risk reduction, cost reduction, client service excellence & revenue opportunities.
- Work effectively with Citi stakeholders: Partnering closely with key groups such as Legal, Operations, Technology, Client Onboarding, Markets businesses, and risk functions, ensuring their requirements are being met around ECS negotiations.
- Develop and demonstrate knowledge of collateral definitions and regulations surrounding uncleared derivatives margin regulations.
- Robust control environment: Identify trends, synergies and weaknesses across products, regions and teams. Recommending and implementing control enhancements. Drive best practices and strong risk governance.
- Champion diversity and inclusion, supporting a work environment that allows our People to thrive and excel.
- Promote a culture of continuous improvement, cultivating a robust service and control environment.
- Coaching and Mentoring: Develop our talent, support their growth.
- BA/BS degree preferred
- Relevant experience in the following: Agreement Management, CSA and Eligible Collateral Schedule Negotiations, Client Onboarding, Derivatives Confirmation Drafting, Collateral and Margin Management, with a strong appreciation of uncleared margin regulations, securities products, practices, risks, and regulations. Preferably at large financial services firm.
- Familiarity with triparty collateral management platforms (Bank of NY Mellon, Euroclear, JP Morgan, Clearstream).
- Experience operating in a sensitive client-facing position with a strong client service mind-set.
- Thinks logically and is good at problem solving. Able to understand and articulate the rules that control the negotiation of the ECS.
- Has good attention to detail. Tiny differences in contract data/wording or rules can dramatically change the meaning of data value on the systems and ability to challenge/ask questions is important.
- Able to write clearly and concisely. To present ideas and proposals to senior decision makers without technical jargon.
- Demonstrate sound judgement and a strong risk management mindset, demonstrated through implementing sound controls and processes.
