The successful candidate will assume responsibility for the leadership of the EMEA Securities Finance Operations Team and also serve as Co-Head of Agency Securities Lending (ASL) Operations, collaborating intrinsically with the front-to-back teams in Business, Product, Technology and Risk. This role requires the incumbent to champion strategic initiatives across operational processes and foster a robust partnerships across the Services organisation to guarantee that the client experience—encompassing Transaction Management, Asset Services, Tax, and Middle Office—adheres to the most stringent standards.

The position requires significant contributions towards achieving cost efficiency and productivity targets, driving the implementation of a standardized global service model designed to facilitate organic growth and support New Business initiatives, whilst concurrently cultivating a diverse and highly capable talent pool. Furthermore, the role will ensure continuity within the regional construct by providing essential functional expertise to our business partners. A key responsibility will be to manage senior-level escalations pertaining to both Collateral Services and Agency Securities Lending Operations in EMEA.

The role will require representation on behalf of Securities Finance Operations at internal/external forums and will provide support to Product/Business for regional client engagements as required

This position is designated at a Director (C15) level, reflecting the extensive client focus and interaction, in addition to the inherent risks associated with the responsibilities.

Agency Securities Lending transactions involve the loan of securities by a client, who holds ownership or control thereof, to a Borrower (or buyer in the context of a repurchase agreement). These securities are acquired by the Borrower to support proprietary trading strategies, manage funding requirements, and fulfil settlement obligations. Within Investor Services, the ASL unit functions as the agent on behalf of multiple lenders for a single loan to a borrower. The ASL Operations team provides critical support for various functions including new loan collateralization and settlement, daily mark-to-market valuations, return collateral and settlement processes, recalls, cash/position reconciliations, contract comparisons, Securities Financing Transactions Regulation (SFTR) reporting, trade support, FED coupon processing, Borrower billing, and Client earnings. Custody Asset Servicing provides ancillary support for ASL corporate actions and income events. In addition the DAIS business acts as an extension of the client’s Treasury team to increase capabilities and efficiencies. The program has access to a wide range of money market instruments with varying risk, return and tenor.

Collateral Management constitutes an administrative service provided to clients, designed to facilitate the collateral management processes pertinent to their marginable agreements. These agreements encompass a diverse range of products, including Over-the-Counter (OTC) Derivatives, Cleared Derivatives, Futures, To-Be-Announced (TBA) securities, collateralized credit lines, and Bilateral Repurchase Agreements (Repo). The Collateral Management function serves as an intermediary between the client and its counterparty, ensuring adherence to the collateral-related provisions stipulated within the executed trading agreement. While Citi's Collateral Management department does not act as a direct party to these agreements, its operational scope includes the acquisition of data from clients and their respective custodians, the calculation of financial exposure, the reconciliation of margin movements with counterparties, and the ultimate settlement of margin calls through the utilization of cash and securities, in strict accordance with client directives.

Position Responsibilities:

• Achieve Service Level Compliance: Ensure 100% service level compliance across all functions, aligning with external contractual agreements and internal product/business expectations.
• Manage Financial Aspects of EMEA ASL Client Delivery: Oversee financial management for ASL Client Delivery, focusing on cost target adherence and effective resourcing in location.
• Ensure standardization of service offerings across all regional operational functions to deliver a consistent client experience globally.
• Simplify Technology Infrastructure: Streamline technology across the organization, with a primary focus on enhancing client query tooling and reporting mechanisms.
• Drive Citi Initiatives: Lead initiatives aimed at reducing manual touch points and inquiries within the Bank pertaining to Securities Finance processes.
• Continuously Enhance Client Delivery Processes: Collaborate with Functional Heads and the direct management team to review and improve client delivery processes, thereby fostering a positive client experience.
• Support Location Strategy Execution: Assist in the execution of Location Strategy activities, ensuring operational compliance with all send/receive site requirements, and guaranteeing robust training materials and post-go-live support.
• Collaborate on Productivity Initiatives: Partner with the Productivity Office to evaluate and support opportunities for enhancing efficiency within the function.
• Address Process Control Gaps: Proactively identify and rectify deficiencies within the process control framework to ensure that control steps throughout the process lifecycle are relevant, documented, and clearly understood by process teams.
• Support Business Growth Opportunities to expand market share and increase client engagement.

Requirements:

• Relevant senior experience in an Operational management environment, preferably with Agency Lending, Middle Office and Collaterak Operations experience
• Understanding the Client- Experience in leading client centric/focused teams with strong background in building Service capabilities instead of query management capabilities.
• Experience in leading global and regional teams, across multiple time zones, including large matrix organizations
• Experience in managing financials and resources associated to a global function
• Problem solving, process improvement, self-starter and results oriented
• Experience in dealing/managing clients whilst representing an Operational function.
• Local regulatory and compliance familiarity to drive processes and perform according to country procedures and standards
• Strong analytical skills – the ability to analyse processes and systems, evaluate data, and identify process improvements

We offer:

We work hard to have a positive financial and social impact on the communities we serve. In turn, we put our employees first and provide the best-in-class benefits they need to be well, live well and save well.

By joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as:

· Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure

· A discretional annual performance related bonus

· Private medical insurance packages to suit your personal circumstances

· Employee Assistance Program

· Pension Plan

· Paid Parental Leave

· Special discounts for employees, family, and friends

· Access to an array of learning and development resources

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self every day. We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive.

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

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Job Family Group:

Operations - Transaction Services

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Job Family:

Securities and Derivatives Processing

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Time Type:

Full time

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Primary Location Full Time Salary Range:

130 000,00 € - 300 000,00 €

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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Automated Processing and AI

We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate's skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.

Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.

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This job opening is for an existing job vacancy.

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

 

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