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CEP Deputy Head of Asset Liability Management (ALM)

Job Req ID 21306108 Primary Location Dublin, Ireland Job Category Finance
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Job Background/context:


Build out Dublin based CEP Treasury teams to support the planned growth as well as post Brexit moves and CEP's strategic projects and activities. As such, building CEP’s ALM function to support CEP's Head of Asset Liability Management (ALM - PCF-23) regulated role with the Central Bank of Ireland and ECB.

The CEP Head of Asset Liability Management (ALM) is looking to recruit an experienced ALM professional to support ALM and Treasury activities in Citibank Europe plc (CEP). The Deputy Head of Asset Liability Management will build out and oversee a team of experienced ALM professionals to build a best in class ALM functional group and capabilities to support the growth and success of CEP.

In performing this 1st line of defence function, the Deputy Head of ALM will provide full support for a prudent use of the balance sheet with respect to liquidity, capital and returns.

This is a “Director level”, “Treasury leadership” role to support all Treasury related items. Furthermore, this role will interact with, other Finance Functions, Product and Business Lines, Independent Market Risk Management (2nd Line of Defence), Internal Audit, Compliance functions as well as Regulators and Senior Management as appropriate.


Responsibilities:

  • Contributes to the governance of funding, investing and analytics of the balance sheet. This includes:
  • Participates in managing liquidity and interest rate risk, the capital/legal entity structure and capital planning.
  • Contributes firm wide liquidity risk policy and standards, as well as establishing the framework for sizing liquidity requirements including internal stress testing framework, help developing contingency funding plans in conjunction with other stakeholders, providing support for liquidity oversight to the entity ensuring that the entity maintains adequate liquidity appropriately positioned to meet the company’s local and global needs both in normal market conditions as well as during periods of stress.
  • Part of a team which actively manages the balance sheet by ensuring adherence to established targets in order to achieve liquidity, balance sheet and capital return metrics.
  • Engages in the appropriate establishment and monitoring of liquidity, interest rate risk and balance sheet limits.
  • Liaises with businesses to ensure both an understanding and the ability to manage those limits in a well-governed environment which allows for business growth.
  • Interacts with respective regulators, senior management and ALCO committees.
  • Performs other duties and functions as assigned.
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Key Responsibilities:

  • Alco Governance & Control
  • Participate in the CEP ALCO, supporting CEP Treasurer and all businesses operating on CEP’s Balance Sheet.
  • Support strong governance framework over Country Treasurers through Country Treasurer MCA, goal setting, and Country Treasurer Governance policy.
  • Ensure consistency of approach and support standardization of practices where needed, including ALCO, Liquidity and Asset and Liability Management, or other Global Treasury initiatives.
  • Balance Sheet
  • In coordination with the CEP CEO, CEP CFO and CEP Treasurer, provide full support to the Treasurer to ensure that the CEP ALCO is effective in driving appropriate allocation and use of financial resources, addressing franchise wide liquidity and capital requirements, stakeholders are engaged, balance sheet topics are covered and governance best practices are followed.
  • Oversee securities allocation and its appropriate funding to ensure appropriate allocation and use of financial resources.
  • Monitor consistency of current and future balance sheet usage with Strategic Plan, MYC and CCAR cycles.
  • Liquidity
  • Oversee funding, capital, liquidity and interest rate risk under both regulatory and internal.
  • Fully support maintaining a strong control environment and in compliance with both internal and regulatory requirements through daily monitoring of liquidity and escalate to CEP CFO and CEP Treasurer appropriately.
  • Support review of Country Funding and Liquidity Plans (FLPs) as required by Global Liquidity Risk Management Policy including fungibility and inter affiliate transactions and integration into CEP’s 3 year FLP and ILAAP processes.
  • Ensure countries maintain effective and current Contingency Funding Plan and its integration into CEP’s CFP
  • Monitor macroeconomic and geopolitical headwinds in the country and the region to make sure the balance sheet remains liquid under stress scenarios
  • Closely coordinate with CEP Treasurer and country teams to help roll out global initiatives (e.g. ILST), and provide support to meet MRA requirements.
  • Fund Transfer Pricing
  • Clearly articulate country’s FTP / LTP requirements, and recommendations of FTP / LTP proposals to CEP Treasurer for approval from CEP ALCO, Regional Treasurer and information to Regional EMEA ALCO.
  • Fully support consistent implementation of funds transfer pricing policies.
  • Capital
  • Oversee Capital’s quantity, quality, and dividend repatriation plan. Support the treasurer to make certain that local entity dividends equate to 100% of net income remit-able earnings for the current / prior year unless explicitly granted forbearance through the annual Capital Plan process, or a Legal Entity Capital Request (LECR) where applicable and or local regulators
  • Lead the transformational strategy across Interest Rate Risk and Funds Transfer Pricing to ensure the design and build of a best in class ALM function and meets objectives that relate to Citi’s transformation
  • Helps drive IRR and FTP strategy through the review and determination of a best in class metrics, methodology and modelling requirements to enable an efficient and effective strategy meeting Front Office, Treasury and Business needs
  • Builds a strong talent base and drive employee engagement and retention, enhancing leadership opportunities and providing coaching and mentoring to team members across all levels

The Main duties include:

  • Capital management (e.g. equity, debt, securitizations, MREL issuance)
  • Balance sheet management (e.g. maturity mismatches, lending/deposits activities, FX exposures, etc.)
  • Liquidity management (e.g. daily to multi-year funding activities, involvement in TLTRO operations with the ECB)
  • Treasury services (e.g. internal hedging of lending and deposit books)
  • Liquidity, Capital and Interest Rate stress testing program etc.


Development Value

  • This role will require strong and thoughtful leadership skills to lead and represent Citi Treasury function in CEP. It will present an opportunity to further enhance ability to influence decision taking through better leadership and communications skills. It will provide the successful candidate with:
    • Substantial interaction with Country and Regional Management, including CEP’s CEO, CFO, CRO and Treasurer, as well as Business Leads.
    • The opportunity to lead and present at forums including ALCO.
    • The ability to make a significant contribution to ensuring the firm meets its financial target through efficient use of balance sheet.
    • The opportunity to understand the regulatory requirement impacting Treasury both locally and globally.
    • The ability to be an influential decision maker on the utilization and planning of resources to support the Citi franchise.
    • Exposure to a broad range of business areas and products

Qualifications

  • University degree in Finance, Economic or Accounting or postgraduate degree in similar disciplines.
  • English language at proficient level both written and oral. Other languages are a plus.
  • Prior Treasury experience required.

Skills:

  • Strong and proven analytical skills.
  • Excellent oral and written communication skills.
  • Ability to handle tight deadlines and multi-task.
  • Ability to work under pressure and to prioritise objectives.
  • Must be able to understand complex financial concepts and distil into clear, concise and simplified concepts.
  • Experience with understanding and preparing analytics for a senior audience.


Valuing Diversity:

Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

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Job Family Group:

Finance

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Job Family:

Balance Sheet Management

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Time Type:

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