Vice President – Corporate Actions Risk, Regulatory, Oversight, Control and Strategic - Jersey City
Citi Market Operations and Operations Technology is currently at a pivotal point in its evolution and journey to implement a target operating model. We take pride and are passionate about our People and our culture. We are invested in people and their development. We are transforming and simplifying our operating model creating an exciting environment which encourages diversity of thought and inclusion.
We are a dynamic, global and diverse Organisation, with a presence in over 60 Countries; covering all front post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & 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 Derivs, FXPB) 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 core to the success of the Markets business and has significant impact across the lifecycle of a Trade. We partner extensively with a range of internal stakeholders including 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 the group service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first class experience when doing business with Citi.
Our Digitization and Implementation group works alongside our Operations teams delivering automation solutions to solve for operational challenges. We partner with Citi’s innovation labs to drive optimization and overall play a pivotal role in enabling us to transform to achieve our target operating model.
Our Technology groups develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning.
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 optimise and streamline processes, and drive strategy across our industry.
Job Purpose :
This role is within ICG Markets Operations and Technology. The role is within the Asset Servicing group which is a high-risk function and part of the Markets Operations and Technology division. Asset Servicing is represented Globally across the NAM, EMEA and APAC regions. The Asset Servicing department is an integral part of the ICG O&T division and has responsibility for processing Corporate Actions and Income events for Firms and client’s positions. It is one of the highest risk areas within operations. The unit provides client-orientated support to both the front and middle offices and utilises all processes of the other areas of operations. The department supports, Prime Brokerage, Firm trading desks, Stock Lending, Repo, and SWAPS for both Equity and Fixed Income.
The role is a senior individual contributor role to perform functions relating to Risk, Regulations, Oversight, Control and Strategic developments for Corporate Actions Processing. The role will report directly into the Corporate Actions ROCS Team Manager and will be responsible for continuing to strengthen the experience within the teams whilst enhancing risk and control frameworks, aligning to company strategy and vision.
- Performing net position calculations to ensure compliance with SEC Rule 14e-4; coordinate across multiple firm and client accounts to capture position changes and elections on eligible net long positions.
- Provide training both remotely and on site to the Buffalo Corporate Action team as part of new starter training, general training and specific targeted training on the back of remedial actions.
- Communication with escalation contacts across all internal departments such as Front Office, Middle Office, Settlements, Product Control, Secure Coding, Compliance, Network Management and Operations Control. This may include running escalation calls with on risk events across the globe with the business, MO and Ops areas.
- Ability to pro-actively escalate internally within Operations, Control, ORM and Business.
- Perform process reviews, identifying any gaps and implementing controls and/or process to deliver Global consistency.
- Attend market industry forums and represent Citi Markets.
- Key Asset Servicing contact in respect of projects on the back of Regulatory changes.
- Cover all regulatory aspects for Corporate Actions Processing.
- Oversight duties such as performing deep dive reviews and process analysis.
- Manager Control Assessment Sampling, ARCM reviews, Quarterly Risk Assessments, updates and management.
- Control tasks such as reviewing end of day reports, preparing data and chairing break/Control meetings, Procedure reviews and other similar duties.
- Support and be a key lead in strategic automation for all platforms. Identify areas for Manual Touch point reduction and demonstrate working towards simplification strategy.
- Key contact for any new business initiatives that impact Asset Servicing Ops.
- Key point person during any Audits, Control or Regulatory reviews and actions.
- Tracking of incidents and near misses including monitoring of remedial actions.
- Support and cover for Income team colleagues during period of extensive volume, holiday and cross training.
- Provide cover for Processing Teams in exceptional circumstances as requested.
- Provide processing support for ad-hoc instructions for conversions, SPAC splits (detachments), warrants, exchanges, DRS, and legend removals.
- Monitor and review trends via Error, KPI’s and metric analysis and implement corrective action plans to maintain the culture of preventative action.
- Ability to pro-actively escalate internally within Operations, Control, ORM and Business.
- Ability to identify issues, gaps in controls and execute remediation timely.
- Continuously enhance risk and control framework to reduce opportunity for losses and/or near misses.
- Manage any Corrective Action Plans as assigned.
- Understand, implement and monitoring of all market and regulatory changes.
Qualifications and Skills:
- BS/BA degree or equivalent work experience preferred.
- Series 99 preferred or ability to obtain within months of hire
- Significant experience in Tier 1 global financial institutions.
- SME knowledge in Asset Servicing, with experience in Corporate Action Processing. Understanding of Stock Record; long/shorts, and various position types including stock lending positions
- Energetic, flexible, collaborative, and proactive; a leader who can positively and productively add product impact to both strategic and tactical technology.
- Strong, influential communicator who is articulate and concise.
- Strong risk management and control mind-set; understanding of the critical risks and necessary controls related to corporate action processing.
- Provides evaluative judgment based on analysis of factual information in complicated, unique and dynamic situations; draws on diverse range of internal and external sources.
- Self-reliant, good problem solver, results oriented.
- Ability to establish and build trust with professionals throughout the business with a clear client orientation.
- Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint.
- Ability to conceptualize aspects of the organization’s model and its future development.
Job Family Group:Operations - Transaction Services
Job Family:Asset Servicing
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