Director, Head of North America for Futures & OTC Cleared Derivative Operations (Hybrid)

Organization Overview:

Market Operations represents the evolution and transformation of Operations in the Finance Industry which creates a uniqueness about how we deliver our products and solutions.  We take pride and are passionate about our People and our culture. We are invested in you, your experiences, development, and in building a successful career for you at Citibank. We are modernizing everything we do; allowing flexibility and creating an exciting environment which encourages diversity of thought and inclusion. 

We 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

The Head of North America (NAM) for Futures and Clearing Operations will be responsible for ~ 100 staff across 4 Cities. Futures & Clearing Operations sits within ICG Market Operations group supporting the FCX (Futures, Clearing and FXPB) Product within Equities Operations. The role will oversee five functional teams, Trade Management, Controls, Income & Expense, Client Services, and FXBP Middle Office. This role will report into the Global head of FCX Operations.

Responsibilities include providing leadership and direction to a diverse team and delivering a world class Operations service for our Futures businesses and Clients base. The head of NAM will have day to day risk and service oversight to run the Operations unit successfully, alongside driving change in the strategic design and implementation of the target operating model. 

The NAM head will focus on leading the Organization to successfully execute vs our primary goals which includes driving a proactive People Agenda and Strategy, ensuring a Robust Control Environment, enhancing our Service Capabilities, simplifying our Platforms to build appropriate Scale whilst maintaining upmost Expense Rigor to meet budget.

The NAM head will partner with internal stakeholders such as the Global Operations & Technology teams, Product groups, HR, Compliance & Internal Audit as well as engage with external industry bodies and Regulators

The Futures business within Global Markets is on transformative journey with a focus on implementing new businesses, markets, and processes.

The NAM head will play a pivotal role, cross collaborating with stakeholders in Technology, Transformation and Change, and The Futures Business and Operations team to review requirements and to execute on the Target Operating Model.

Key Responsibilities:

• Leading the Organization to deliver vs goals to meet the Target Operating Model as a part of the FCX Ops Global Leadership team
• Implementing a successful People and Engagement strategy to help attract, develop, retain, and recognize a diverse and talented workforce 
• Overseeing daily operations and management of functional teams, and acting as a senior point of escalation for issues
• Developing an effective control framework that fully meets Audit, Compliance and Regulatory requirements; delivery of periodic presentations to external regulators as required
• Maintaining a culture and environment where processes and controls are continually monitored, and potential risks escalated on a timely basis
• Acting as senior Operations lead in New Business Committee meetings, client sales pitches and due diligence visits and other governance forums, including deputising for the Global MD of Futures Operations as required
• Supporting and partnering with the Regional Business to facilitate a growing and expanding client base / operational offering
• Engaging in client discussions & relationship management activities as required to support the Business
• Developing and implementing a multi-year operations strategy for FCX Operations in partnership with the Business and Technology stakeholders
• Managing budgets and headcount plans to meet targets
• Driving and supporting the delivery of strategic platform re-engineering initiatives
• Driving the implementation of initiatives to continuously improve STP rates and scale, including the use of Robotics, workflow and other innovative re-engineering techniques
• Drive results and foster a culture of excellence, innovation, and continuous improvement within the Team

Skills & Qualifications

• BS/BA degree or equivalent
• 10+ years of experience in Tier 1 global financial institutions preferably with experience in Futures, OTC Clearing, FXPB, or Derivatives  
• Demonstrated experience leading people and developing effective and diverse teams across a global footprint

• Self-reliant, good problem solver, results oriented
• Energetic, flexible, collaborative, and proactive; a leader who can positively and productively add product impact to both strategic and tactical technology
• Able to juggle competing demands with a strong sense of prioritization of work and able to manage to tight deadlines
• Ability to conceptualize aspects of the organization’s model and its future development
• Experience delivering strategic change programmes spanning multiple years in a fast paced, large global financial services firm, ideally in an operations, risk, or technology organisation
• Strong and influential communicator who is articulate, able to face off to senior leaders but also ability to connect well with junior members of the team. Demonstrates ability to impact and influence those around them
• Experience in financial planning processes, including budgeting and forecasting
• Provides evaluative judgment based on analysis of factual information in complicated, unique and dynamic situations; draws on diverse range of internal and external sources
• Ability to establish and build trust with professionals throughout the business as a leader, advisor, and business partner to the organization with a clear client orientation.
• Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint
• Strong Knowledge of NAM Regulatory landscape and track record of working with Regulators and other Market Infrastructure providers in the region

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