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Senior Business Control Manager / Lead

Job Req ID 21295036 Primary Location London, United Kingdom; Belfast, United Kingdom Job Category Risk Management
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Job Purpose:

The Business Control Manager (BCM) role is within the EMEA Private Bank, reporting to the EMEA Head of Investment in-Business Risk and the UK Investment Centre Head.  The role involves leading and managing a team of BCM’s overseeing risk and control by exercising a programme of day-to-day and on-going supervisory activities across a group of Bankers, Investment Counsellors and Capital Markets teams (collectively ‘Representatives’). The role holder will interact with a range of stakeholders across all levels of the organization including Business Managers, General Market Managers, Desk Heads, Bankers, Investment Professionals and Servicing Teams. It is also Important for the role holder to be able to work closely with a diverse group of support and control functions including in-Business Risk, Compliance, Operational Risk, Legal and Internal Audit.

This role will be the senior CPB representative in the Belfast locations and will be responsible for local oversight and leadership of the CPB population in Belfast.  This will include ensuring the overall CPB cohort in Belfast is represented outside of Belfast, as well as ensuring that the team is fully integrated into the Citi Belfast location.

Job Background/context:

Citi Private Bank is a trusted advisor to the world's wealthiest, most influential individuals and families. Like Citi's government, institutional and multinational corporate clients, Citi Private Bank clients receive bespoke service and access to the best ideas and solutions tailored to their unique needs and aspirations. A part of Citi Global Wealth, Citi Private Bank offers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. Among its select clients are a third of the world's billionaires, many of whom are globally minded entrepreneurs with an expectation of an institutional level of service, who take advantage of Citi's holistic approach to wealth management.

Citi Global Wealth is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank. Citi Global Wealth delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals.

The Business Control Manager lead

Role will require managing a team responsible for various supervisory duties as assigned, which will include:

  • Monitoring and approval of Investment Objective Setting (‘IOS’) forms for client accounts
  • Monitoring and oversight of account level risk versus Investment Objectives, Risk Tolerance and other suitability information through execution of the Daily Risk Management Review (‘DRMR’) process
  • Monitoring and review of Suitability Surveillance Cases, and similar surveillance reports generated in relation to investment transactions.
  • Performing regular review of trade blotters / desk activities across the Investments organisation
  • Reviewing and approving certain alternative investments, higher risk or complex transactions either pre or post promotion
  • Reviewing and approving client MIFID professional status
  • Performing regular account documentation / suitability reviews including cross border aspects
  • Conducting periodic reviews of employees involved in the promotion of Investment Products, including but not limited to Training & Competency assessments
  • With support of the Independent Compliance Risk Management function (ICRM), monitor continuing education and licensing requirements for relevant employees
  • Managing and helping resolve sales practices / investment related complaints
  • Periodically reviewing and affirming listing of employees under supervision
  • Reviewing and approving certain correspondence and investment presentations
  • Performing periodic surveillance reviews
  • Lead and support key projects to (1) enhance controls and respond to new regulations and/or Citi Policies, and (2) implement process enhancements, management and oversight of new or arising issues
  • Presenting findings and preparing materials for regular Governance and Control Forums

Development Value:

The Business Control Manager will work closely with a variety of stakeholders and functions within Citi Private Bank and the broader Citi organization.

The position allows for considerable professional growth and learning across the space of Investments & Suitability; and will expose the candidate to a wide and diverse range of policies, processes and products across the Private Bank and related risk and control disciplines

Knowledge/Experience:

  • Relevant experience in Private Banking, Wealth or Asset Management, Capital Markets
  • Previous experience of managing a team
  • Previous experience in performing a supervisory role
  • Proven experience of working in, or with, control functions such as: Compliance, Audit, Risk
  • Strong understanding of UK FCA Conduct of Business (COB) rules; as well as good understanding of EU Regulation

Skills:

  • Analytical inquisitiveness and problem solving ability; an ability to ask insightful questions, break analytical challenges into workable components and draw meaningful conclusions
  • Demonstrates a knowledge of EU / UK / Swiss Regulatory Environments, in particular those that relate to sales and suitability
  • Efficient and effective use of office software (e.g. Excel, Powerpoint)
  • Strong IT skills due to the data gathering and reporting elements of this role
  • Ability to work well in a cooperative, high energy, matrix managed business
  • Ability to collaborate with and lead others to achieve objectives
  • Flexible approach and willingness to be 'hands -on' as and when required
  • Good at brainstorming; can conceptualise new approaches quickly
  • Can communicate complex ideas simply and compellingly

Qualifications:

  • A strong interest in and sound understanding of financial markets, products and Private Banking / Wealth Management
  • Strong and proven experience gained within control, compliance or monitoring would be beneficial
  • Experience gained within an Investment Supervisory / Control role would be beneficial
  • Degree educated
  • Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience

Competencies:

  • Strong inter-personal skills, including stakeholder and conflict management
  • Analytical ability
  • Excellent organisational skills and attention to detail
  • Ability to sift through complexity, identify potential areas of risk and set forth issues clearly
  • Ability to prioritise multiple tasks based on materiality
  • Able to work under pressure and to strict deadlines
  • Drive and determination - high energy level, but dispassionate and independent
  • Able to manage routine processes with precision and ad hoc projects with flexibility and creativity
  • Able to approach unfamiliar situations with reference to good control practices
  • Effective verbal and written communicator with good report writing and presentational skills
  • 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:

Risk Management

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Job Family:

Business Risk & Controls

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Time Type:

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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